“The entire financial system should be 24-7, should be permissionless, should be programmable, and it should be open.” – 02:29
Kyle Samani, Managing Partner at Multicoin Capital, joins Remy Blaire to discuss the latest developments in the cryptocurrency space, particularly focusing on Solana.
Remy begins by highlighting the impressive performance of Bitcoin, which has reached record highs above $125,000, and Ethereum, which has topped $4,700. Despite these milestones, Remy emphasizes that Solana remains a significant player in the market, noting its growth as a Treasury Reserve asset and the doubling of ETP net inflows and outflows as September concludes. Kyle shares insights on Grayscale’s recent announcement regarding its Solana trust enabling staking, further underscoring Solana’s increasing relevance.
The conversation shifts to the Alpenglow upgrade, which Kyle describes as one of the most exciting upgrades in Solana’s history. He explains that the upgrade will reduce block times from 400 milliseconds to approximately 150 milliseconds, with a long-term goal of achieving block times as low as 20 to 25 milliseconds. This enhancement is poised to revolutionize the operation of global-scale internet capital markets on the Solana blockchain, making transactions nearly instantaneous.
Kyle elaborates on the concept of Internet Capital Markets (ICM), which he believes is a core investment thesis for Solana. He articulates the vision of ICM as a 24/7, permissionless, and programmable financial system that allows anyone with an internet connection to trade assets seamlessly. He points out the current disparity in access to capital markets, noting that while hundreds of millions of people have access to cryptocurrencies, many still lack access to traditional equities. Kyle expresses optimism that this gap will continue to narrow as blockchain technology advances.
The discussion also covers Kyle’s recent venture, Ford Industries, which he co-founded and now serves as Chairman. He shares that Ford Industries has become the largest Solana digital asset treasury company globally, following a significant $1.65 billion investment. This development positions Ford Industries to leverage Solana’s capabilities in innovative ways that traditional securities exchanges cannot match.