Kyle Samani, managing partner of Cryptocurrency Fund Multicoin Capital, is expected to take over as president of a new digital asset financing company planned under the name Solana.
According to Bloomberg, Multicoin will form the Solana Digital Asset Treasury (DAT) along with Galaxy Digital and Jump Crypto for around $1 billion. This structure is expected to be implemented through acquisitions of public companies that have not yet been realized.
Samani's transition to chairmanship of this new structure will be “Who is Solana's Michael Saylor?” Michael Saylor has become prominent in the crypto community for his Bitcoin investment through micro-tactics, but there is speculation that Samani can play a similar role in the Solana ecosystem.
Multicoin was the first to join Solana's seed round in 2018. Since then, Samani has frequently expressed his support for Solana and criticised his rival blockchain projects.
If the new Treasury facilities at Multicoin, Galaxy and Jump can be deployed with $1 billion, this will be the largest Solana Treasury structure to date. Upexi, the current leader, has a net asset value of $413 million.
*This is not investment advice.
