Kyle Samani says Solana was the 'always the answer' for new crypto treasury venture

Multicoin Capital co-founder Kyle Samani says the firm's decision to launch a Solana-based treasury company was driven by conviction, and a little push from the United States Securities and Exchange Commission (SEC).

"There was never really a question for us of whether we're going to do a digital asset treasury (DAT), what asset to do. Solana was always the answer," Samani told TheStreet Roundtable  host Scott Melker. 

"We've been investors in Solana since day one. We've doubled down on Solana repeatedly over the years."

Samani said the new firm, Forward Industries, represents another step in Multicoin's long-term bet on the Solana (SOL) ecosystem. But the timing, he added, was influenced by a key policy speech.

Founded in 2017, Multicoin Capital is a Texas-based crypto investment firm known for early bets on Solana (SOL) and The Graph (GRT). The firm manages venture and hedge funds focused on decentralized protocols, Web3 infrastructure and blockchain scalability. Recently, it launched Forward Industries, a Solana-native digital asset treasury company designed to bring traditional finance onchain. 

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He cited remarks by SEC Chairman Paul Atkins on July 31 in a speech titled Project Crypto , delivered to roughly 4,500 SEC employees. 

"In that speech, Chair Atkins said, unequivocally, we are moving US securities markets on chain," Samani recalled. The comments, he said, triggered a realization: "After he gave that speech, I started to think like, how is this going to happen?... I kind of thought after he gave that speech, I was like, wait a minute, if we do this digital asset treasury thing, that's really a vehicle for us to accelerate the project crypto."

According to Samani, launching Forward Industries wasn't just about profitability, it was about shaping the onchain future. "We believe doing this not only is a profitable endeavor, but is actually good for crypto and good for Solana ," he said.

Solana over Bitcoin

When asked how a Solana treasury differs from MicroStrategy 's Bitcoin-heavy strategy, Samani said Solana's yield generation makes it a more dynamic base asset.

"Full credit to Sailor and the team at Strategy for kind of figuring out this flywheel between ATMs and Preferreds," he said. "The challenge that they face is their capital structure and their coupon payments are not perfectly congruent. Bitcoin doesn't produce any yield."