/ Writing

/IBRL

Kyle Samani
October 2, 2025 | 5 minute read

Today, DoubleZero (DZ) launched onto mainnet-beta. Multicoin Capital co-led a $28M investment round in DoubleZero earlier this year. Blockchains are globally distributed systems. The core L1 teams have collectively invested $1B+ over the last decade optimizing networking protocols, consensus, execution, and storage.

Kyle Samani
October 2, 2025 | 5 minute read

/Creating The World’s Leading Solana Treasury Company

Kyle Samani
Multicoin Capital
by Kyle Samani & Multicoin Capital
September 11, 2025 | 10 minute read

Today I’m excited to announce that Multicoin Capital, Jump Crypto (the largest trading firm in crypto), and Galaxy (the largest financial conglomerate in crypto) have successfully led a $1.65B PIPE into Forward Industries, Inc. (NASDAQ: FORD), which will use the net proceeds to initiate a Solana treasury company strategy. Each sponsor committed over $100M in USD.

Kyle Samani
Multicoin Capital
by Kyle Samani & Multicoin Capital
September 11, 2025 | 10 minute read

/Bienvenida a Brian Strugats a Multicoin Capital

Kyle Samani
July 15, 2025 | 2 minute read

Hoy nos complace recibir a Brian Strugats a Multicoin Capital como nuestro nuevo Head Trader. Brian será responsable de proporcionar la mejor ejecución para el fondo, gestionar nuestras relaciones de contraparte, proporcionar un contexto de mercado accionable para el equipo de inversión y mejorar nuestras capacidades de trading.

Kyle Samani
July 15, 2025 | 2 minute read

/New Modalities for Issuance and Trading

Vishal Kankani
Shayon Sengupta
Kyle Samani
June 26, 2025 | 14 minute read

It is effectively impossible for a regular person to create a new tradeable asset on traditional financial rails. Crypto trivializes this. Today, anyone in the world can create new assets on Solana in a few seconds for ~$0 cost. Consequently, there has been an explosion in user-generated assets (UGAs).

Vishal Kankani
Shayon Sengupta
Kyle Samani
June 26, 2025 | 14 minute read

/Jito (JTO) Asset Report

Shayon Sengupta
Tushar Jain
March 4, 2025 | 4 minute read

Over the past three years, Multicoin Capital has acquired a significant position in JTO, the native token of the Jito Network, across our hedge fund and venture funds. An executive summary of our 45 page asset report is presented below. You may download the complete report and analysis, including our valuation model and price target, by clicking the "Read Full Report" button.

Shayon Sengupta
Tushar Jain
March 4, 2025 | 4 minute read

/Where Are All The Robots?

Shayon Sengupta
February 25, 2025 | 6 minute read

Today, we are excited to announce that Multicoin led an $8M strategic acquisition of GEOD, the native token of the Geodnet Network, from the Geodnet Foundation. Geodnet is a precise positioning network that leverages DePIN economics to power mission-critical localization services for drones, autonomous vehicles, and the tens of millions of robots that will likely proliferate the Earth over coming years.

Shayon Sengupta
February 25, 2025 | 6 minute read

/Inversión de la relación hombre-agente

Shayon Sengupta
January 30, 2025 | 12 minute read

En 1997, Deep Blue de IBM derrotó en un partido de ajedrez al entonces campeón mundial Garry Kasparov, quedando claro desde entonces que los motores de ajedrez de computadora pronto superarían a los humanos. Curiosamente, un humano bien preparado que trabaje junto con una computadora, un acuerdo a menudo llamado "centauro", podría superar a los motores más fuertes de aquella era.

Shayon Sengupta
January 30, 2025 | 12 minute read

/The Solana Thesis: Internet Capital Markets

Kyle Samani
January 22, 2025 | 17 minute read

Multicoin Capital has been investing in Solana’s native asset, SOL, and the broader Solana ecosystem since Solana’s seed round in May 2018. We have previously published four theses about Solana in that time. The first two were published about nine months before mainnet produced its first block in March 2020. As the Solana network has evolved, so has our frame of reference on how to think about the Solana network, and SOL the asset.

Kyle Samani
January 22, 2025 | 17 minute read

/Some Things Never Change, Even In 2025

Multicoin Capital
by Multicoin Capital
January 9, 2025 | 12 minute read

One of the best quotes from Jeff Bezos is: “What's going to change in the next 10 years?' And that is a very interesting question; it's a very common one. I almost never get the question: 'What's not going to change in the next 10 years?' Earlier this week, we published a stereotypical VC post about new areas that our investment team is looking forward to seeing in 2025.

Multicoin Capital
by Multicoin Capital
January 9, 2025 | 12 minute read

/Ideas de frontera para 2025

Multicoin Capital
by Multicoin Capital
January 7, 2025 | 12 minute read

2025 está listo para ser un año crucial para la industria. La aparición del primer marco regulatorio pro-criptografía, combinado con la madurez técnica de las cadenas de bloques de capa 1, los protocolos de DeFi, las redes de DePIN y las monedas estables, está creando un terreno fértil para la próxima ola de innovaciones de frontera. Manteniéndonos fieles a nuestra tradición, estamos compartiendo las ideas y oportunidades que más nos entusiasman para el próximo año.

Multicoin Capital
by Multicoin Capital
January 7, 2025 | 12 minute read
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