Multicoin co-founder Kyle Samani announced his departure to explore a new direction in the technology space, remaining as Chairman of the largest SOL treasury company

On February 5, Multicoin Capital co-founder Kyle Samani said in a social media post he is stepping down from the firm while remaining chairman of Forward Industries—the largest Solana (SOL) treasury company. As part of a redemption request he plans to submit to Multicoin’s main fund by March 31, 2026, Samani is seeking redemption in FWDI stock and warrants—not U.S. dollars—subject to Multicoin’s final decisions, legal/compliance approvals, and Forward Industries’ independent consent. Samani noted mixed emotions as he prepares to leave, calling his time at Multicoin “one of the most meaningful and rewarding experiences of my life.” He added he plans to take a temporary break before exploring new tech-focused opportunities. A leading crypto investor, Samani co-founded Multicoin in 2017. The firm has since become one of the crypto space’s most successful funds, managing billions in assets. Multicoin was a prominent early institutional backer of Solana, investing heavily in its seed/early stages and holding firm through Solana’s 90%-plus crash following the FTX collapse. Samani is also known for his avid long-form writing in crypto; his and Multicoin’s “three mega theses” have shaped how a generation of industry practitioners understand crypto’s native value. In September 2025, Forward Industries fully pivoted to crypto via a $1.65 billion PIPE (Private Investment in Public Equity) round led by Multicoin, Jump Crypto, and Galaxy Digital. Samani personally invested $25 million in the round and became chairman. As of January 15, 2026, the U.S.-listed Solana treasury firm held 6,979,967.46 SOL—far more than its competitors. Nearly all its SOL has been staked, netting 133,450 SOL in staking rewards to date.