8-K: RELI Appoints Digital Asset Pioneer Blake Janover to Lead Crypto Board

Reliance Global Group appoints Blake Janover as Chairman of its Crypto Advisory Board to advance its digital asset treasury program and blockchain initiatives.

Summary

• Reliance Global Group (RELI) entered into an Advisory Agreement with Convergence Strategy Partners, LLC, effective November 18, 2025.
• Convergence Strategy Partners, through its President Blake Janover, will provide strategic advisory services for RELI's digital asset treasury (DAT) program and related digital asset, blockchain, and capital markets initiatives.
• Blake Janover has been appointed Chairperson of RELI's Crypto Advisory Board (CAB).
• The agreement has a term of six months.
• As compensation, RELI will issue 450,000 shares of its common stock to the Advisor. 315,000 shares are immediately earned, and 135,000 shares are subject to forfeiture based on termination conditions.
• RELI plans to move away from a multi-asset digital strategy, intending to dispose of its Solana holdings, and will seek recommendations for a single-asset digital strategy.
• The Advisor is explicitly limited from acting as a licensed securities broker or investment advisor and cannot advise on Solana-related activities due to potential conflicts of interest.

Sentiment

Score: 7

Explanation: The appointment of a highly experienced and recognized leader in digital assets and blockchain, coupled with a clear strategic direction for a Digital Asset Treasury program and exploration of tokenized assets, indicates a proactive and potentially value-accretive move. The compensation structure with shares aligns interests. However, the inherent volatility and regulatory uncertainty of digital assets, along with the contingency of shareholder approval for compensation, temper the sentiment slightly.

Positives

• The appointment of Blake Janover, a recognized pioneer in bringing digital assets to public markets, strengthens RELI's leadership in InsurTech and decentralized finance.
• Janover's extensive experience, including over 20 years as an entrepreneur and operator, involvement in billions in commercial property transactions, and half a billion in equity capital markets, brings valuable expertise.
• The strategic focus on a Digital Asset Treasury (DAT) program and blockchain initiatives aims to accelerate innovation, efficiency, and long-term shareholder value.
• Exploring tokenization of insurance-linked assets could introduce greater liquidity, accessibility, and efficiency, merging insurance and decentralized finance.
• The stated intention to dispose of Solana holdings and move to a single-asset digital strategy suggests a more focused and disciplined approach to digital asset management.

Negatives

• The forfeiture clause for 135,000 shares upon certain terminations introduces a contingency for the advisor's full compensation.
• The need for shareholder approval for the issuance of Advisory Shares, with a cash payment alternative if not obtained within six months, introduces a potential contingency for the compensation structure.

Risks

• Ability to realize the anticipated benefits of the Crypto Advisory Board and Blake Janover's appointment.
• Ability to successfully develop, implement, and scale the DAT strategy and other digital asset initiatives.
• Performance and volatility of digital assets.
• Pace and outcome of regulatory developments affecting digital assets and the company's business.
• Ability to maintain adequate liquidity and access to capital and to execute the capital markets strategy.
• Competitive pressures within InsurTech and insurance brokerage.
• General business, economic, market, and geopolitical conditions.
• The 135,000 Subsequent Advisory Shares are subject to forfeiture if the agreement is terminated for 'Cause' by the Company or by the Advisor 'other than for Good Cause'.
• If shareholder approval for the Advisory Shares is not obtained within six months, the Company will pay a cash amount equal to the fair market value of the shares as of the Effective Date, which could differ from future share value.

Future Outlook

Reliance Global Group aims to leverage Blake Janover's expertise to advance its Digital Asset Treasury (DAT) strategy and other blockchain-related initiatives, including exploring the tokenization of insurance-linked assets. The company anticipates these efforts will drive innovation, efficiency, and long-term shareholder value by positioning itself at the forefront of blockchain-enabled value creation within the InsurTech ecosystem. The strategy includes moving away from a multi-asset digital strategy, specifically disposing of Solana holdings, in favor of a single-asset approach.

Management Comments

• "Blakes appointment comes at a strategically important moment following a significant consolidation across the crypto markets, conditions that historically create opportunities for disciplined digital-asset allocation, accretive treasury positioning, and long-term value capture." Ezra Beyman, Chairman and CEO of Reliance Global Group.
• "Blakes pioneering leadership in digital-asset transformation brings invaluable insight that will help position Reliance at the forefront of blockchain-enabled value creation within the InsurTech ecosystem." Ezra Beyman, Chairman and CEO of Reliance Global Group.
• "His leadership will help guide our efforts to integrate digital asset innovation into our model while advancing growth and value creation across the broader InsurTech landscape." Ezra Beyman, Chairman and CEO of Reliance Global Group.
• "Reliance Global Group operates at one of the most transformative intersections in modern financewhere InsurTech meets decentralized finance." Blake Janover, Chairman of the Crypto Advisory Board.
• "Through its Digital Asset Treasury Initiative, Reliance has an opportunity to pioneer how blockchain and tokenization can drive growth, efficiency, and meaningful long-term value for investors and stakeholders." Blake Janover, Chairman of the Crypto Advisory Board.
• "I have seen firsthand how thoughtfully executed digital-asset strategies can unlock significant value, and I look forward to applying that experience to help accelerate Reliances evolution in this space." Blake Janover, Chairman of the Crypto Advisory Board.

Industry Context

This announcement positions Reliance Global Group at the intersection of the rapidly evolving InsurTech and decentralized finance (DeFi) sectors. By appointing a recognized pioneer in digital asset transformation like Blake Janover, RELI aims to capitalize on the strategic opportunities presented by blockchain technology and digital assets, particularly after a period of consolidation in crypto markets. The focus on a Digital Asset Treasury (DAT) program and the exploration of tokenizing insurance-linked assets reflect a broader industry trend of integrating innovative technologies to enhance traditional financial services, seeking to improve liquidity, accessibility, and efficiency in specialized markets.

Comparison to Industry Standards

• Blake Janover's previous role as Founder, Chairman, and CEO of Janover (Nasdaq: JNVR), which he took public in 2023 and transitioned into Defi Development Corporation, demonstrates a track record in pioneering digital asset transformation strategies for publicly traded companies outside of Bitcoin on major exchanges like Nasdaq or NYSE.
• Janover's current role as Chief Commercial Officer and Board Member at Defi Development Corporation, and his service on the Crypto Advisory Board of Caliber Cos (a Nasdaq-listed public company), indicates his experience in integrating decentralized finance within regulated corporate frameworks, providing a benchmark for RELI's own initiatives.
• The company's intention to dispose of Solana holdings and move to a single-asset digital strategy suggests a more focused approach, potentially aligning with best practices for managing digital asset volatility and risk, though specific comparable companies or projects for this shift are not detailed.

Management Changes

Corporate Governance

Stakeholder Impact

• Shareholders: Potential for long-term value creation through enhanced digital asset strategies and exploration of new revenue streams via tokenization. Dilution from the issuance of 450,000 shares as compensation.
• Management/Board: Gains specialized expertise and strategic guidance from Blake Janover and Convergence Strategy Partners in the complex and evolving digital asset space.
• Employees: No direct impact mentioned, but successful digital asset initiatives could lead to growth opportunities.
• Customers: Potential for new or improved insurance products/services if tokenization initiatives are successful, leading to greater efficiency and accessibility.

Next Steps

• The Advisor will provide strategic advisory services for a term of six months.
• RELI will issue 315,000 Advisory Shares 'as soon as practicable' and 135,000 shares at the end of the six-month term (subject to forfeiture).
• RELI will move away from a multi-asset digital strategy, disposing of Solana holdings, and implement a single-asset digital asset strategy based on Advisor recommendations.
• If shareholder approval for the Advisory Shares is required and not obtained within six months, RELI will pay a cash equivalent.
• RELI will continue to develop and implement its DAT strategy and explore tokenizing insurance-linked assets.

Key Dates

Recommendation

The appointment of Blake Janover and the strategic focus on digital assets and blockchain represent a forward-looking move with significant potential for long-term value creation in the InsurTech space. Janover's proven track record in digital asset transformation for public companies adds credibility. However, the digital asset market remains highly volatile and subject to evolving regulatory landscapes, introducing inherent risks. The success of the DAT program and tokenization initiatives is speculative, and the 6-month term of the advisory agreement is relatively short. While the strategic direction is positive, the speculative nature of digital assets and the early stage of these initiatives warrant a 'hold' recommendation, suggesting investors monitor progress and market conditions closely before making further commitments.

Keywords

Reliance Global Group, RELI, Digital Asset Treasury, DAT, Blockchain, Crypto Advisory Board, CAB, Blake Janover, InsurTech, Decentralized Finance, DeFi, Tokenization, Insurance-linked assets, Strategic Advisory, Equity Compensation, NASDAQ