Multicoin Capital's Kyle Samani sees Solana activity and crypto M&A picking up ahead of 2026

Kyle Samani, Co-founder and Managing Partner at Multicoin Capital, said he is focusing on building new ways to expand trading and on-chain activity on Solana, as well as working on new initiatives under his recently launched venture, Forward Industries.

“I spend a lot of my time these days working with Multicoin portfolio companies and planning initiatives to drive new kinds of user trading and on-chain activity on Solana,” Samani said. “There are a number of new apps being developed that we think are going to drive tens of millions, if not hundreds of millions, of new users over the next year.”

Samani launched Forward Industries a few weeks ago with backing from Jump Crypto and Galaxy Digital. The new entity is designed to act as a publicly traded capital vehicle in the crypto space. “We are looking to leverage our brand, relationships, and understanding of the crypto industry to deliver returns to shareholders above and beyond just holding native Solana,” he said.

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Commenting on the broader industry, Samani said that most major crypto metrics have increased several times over the past year, but the key driver ahead will be regulation. He pointed to the Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS Act), passed by the US Congress, which authorises stablecoins to be issued globally. “When we look back in 20 years, we’re going to see 2025 as comparable to 1996 for the Internet,” he said. “That legislation will provide the foundation on which the global crypto industry will grow.”

Samani said regulatory coordination is improving. “I was in Washington DC a couple of weeks ago, meeting with Speaker Johnson,” he said. “He talked about coordination with other members of Congress around the world, and that’s a good sign for the industry.”

On mergers and acquisitions, Samani said a new wave of dealmaking is emerging as more crypto companies prepare to go public. “Companies like Circle, Gemini, and BitGo are likely to use their stock as currency to complete acquisitions,” he said. “Most of these will be for adding new lines of business.”