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BlockBeats News, May 5th, Jito Labs, the Solana ecosystem staking protocol, plans to launch a consumer-oriented crypto trading app, JTX, in July this year, officially transitioning from the infrastructure layer to the front-end transaction business. Initially, JTX will support Solana-based spot trading and will later integrate perpetual contract and prediction market functions, with the perpetual products possibly accessed through the Solana ecosystem trading platform, Phoenix. Founded in 2021, Jito currently has about 39 employees and holds over $1 billion in cash reserves. The company performed well in 2025, recording a nearly $6 million revenue in a single week during popular on-chain transactions on Solana (such as the Meme coin craze), and received a $50 million investment from Andreessen Horowitz's crypto fund last year. Jito CEO Lucas Bruder stated that the company is no longer satisfied with providing only the underlying infrastructure but aims to directly reach users through self-built applications to drive an upgrade in on-chain transaction experience.

US venture capital firm Global Millennial Capital announced that its fund, GMCL IPO Opportunities Fund, has completed a $100 million fundraising round. The fund will invest in the fields of artificial intelligence and DeFi technology, with a focus on medium-sized enterprises valued between $5 billion and $20 billion.

This acquisition offer represents a significant premium over the current share price, demonstrating the acquirer's confidence in the company's future value. The privatization proposal is still at a non-binding stage, which means the terms of the deal may be adjusted as negotiations progress. Market observers noted that this move may rekindle investor attention towards the wave of privatizations among Chinese concept stocks. The company's board stated it would evaluate the proposal but has not made any decisions regarding the transaction timeline or final outcome.