Key Solana Backer Quits Amid Market Crash
Analysis
Price Impact
LowThe departure of a key backer's co-founder (kyle samani of multicoin capital) could initially signal negative sentiment. however, samani explicitly stated he is not capitulating, remains 'mega long sol,' and is maintaining his exposure to the solana ecosystem through an 'in-kind redemption' in forward industries, where he serves as chairman. this significantly mitigates any potential negative impact.
Trustworthiness
HighThe information comes directly from kyle samani's statements, as reported by u.today, a known crypto news outlet. the quotes clarify his intentions clearly.
Price Direction
NeutralWhile the headline might initially cause concern, samani's strong affirmation of his continued 'mega long' position on sol and crypto, coupled with his method of redemption which keeps him invested in the solana ecosystem, prevents a bearish narrative. it effectively neutralizes potential fud, providing underlying support rather than a sell signal.
Time Effect
ShortAny immediate knee-jerk negative reaction to the news of a co-founder leaving should be short-lived, as the detailed explanation of samani's continued commitment to sol and crypto will likely quickly reassure the market. the long-term sentiment for sol is unlikely to be negatively affected by this event.
Original Article:
Article Content:
Cover image via U.Today Read U.TODAY on Google News A sudden exit Not selling Advertisement Kyle Samani, the co-founder of Multicoin Capital, has announced he is leaving the firm. The departure comes amid a major market crash, which makes it rather notable. However, it should be noted that Samani had pushed back against the narrative that he is capitulating. HOT Stories Mark Dow: I Want Bitcoin to Go to Zero Crypto Market Prediction: Will XRP Break Bullish Trap? Shiba Inu's (SHIB) 3 Bullish Targets, Ethereum's (ETH) 300-Day Record Broken A sudden exit After spending nearly a decade building Multicoin with highly aggressive bets on Solana (SOL), Samani described the decision to call it quits as "bittersweet." Advertisement "My time at Multicoin has been some of the most meaningful and rewarding of my life," Samani wrote. "That said, I am excited to take some time off and explore new areas of technology." You Might Also Like Wed, 02/04/2026 - 14:22 Solana (SOL) to $150? Latest 43% Boost in Volume Might Fuel Rebound By Godfrey Benjamin At the same time, he expressed full confidence in the remaining leadership team, including co-founder Tushar Jain and other partners. Samani has described them as "some of the best investors and operators in the world." Advertisement Not selling Samani went to great lengths to clarify that he is not giving up on Solana itself despite the sudden exit. He has announced he has requested an "in-kind redemption" in shares and warrants of Forward Industries (FWDI) instead of redeeming his stake in Multicoin’s Master Fund for cash. Forward is a publicly traded entity where Samani serves as Chairman. It functions as a crypto-native holding company with substantial exposure to the Solana ecosystem. "To be absolutely crystal clear," Samani stressed, "I am still mega long SOL, mega long crypto, and will continue to be involved in crypto both in my personal capacity, and as Chairman of Forward." #Solana News