Managing Partner, Multicoin Capital
All-In Liquidity: Forward Industries Chairman Kyle Samani on Market Opportunity
About Kyle Samani
Kyle Samani, managing partner at Multicoin Capital and chairman of Forward Industries, appeared at the All-In Liquidity Summit in June 2026, where he pitched a company called Geonet at the intersection of crypto and AI. He described the current crypto market as a "bear market" and encouraged investors to "go turn over stones, look for the little gems out there," adding that "you make money in bear markets and you realize it in bull markets." Samani noted that Forward Industries, which he described as "the world's largest Solana digital asset treasury company," holds millions of Solana on its balance sheet and is working with DeFi teams and projects like Geonet to earn yield. In a May 2026 appearance at the Accelerate USA event, Samani hosted Michael Weisz, founder of YieldStreet, and discussed bringing private market assets on chain. Samani said that by tokenizing assets and enabling them to access DeFi, "what was once a static asset is now a utility," and argued that this approach can "truly scale the adoption of the private market product." He also cited recent U.S. legislation such as the GENIUS Act and the CLARITY Act, as well as a changed posture at the SEC under the current administration, as creating a regulatory environment where the industry is "ready to move forward."
Transcript (29 segments)
✨ AI-enhanced transcript with speaker attribution
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Kyle Samani0:00
So, right now I encourage people to go turn over stones, look for the little gems out there. There's plenty of gems out there. Not everything is AI. And you know, if you pick the right gems in a crypto market, you usually end up being rewarded in the poll.
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Kristen0:16
We're here at the Allin Liquidity Summit in Yanville, California, and I'm pleased to be joined by Kyle Samani. He's chairman of Forward Industries. Kyle, welcome.
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Kyle Samani0:24
Kristen, thanks for having me here.
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Kristen0:25
Great to see you here at this event. What brings you to the summit?
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Kyle Samani0:26
I had the good fortune of meeting David Saxs about seven or eight years ago. He backed my last company and did really well for him. And I called David and Jamoth a few weeks ago and they were like, "Hey, we're doing this pitch contest." And they were like, "Why don't you come pitch something crazy?" So I pitched a pretty crazy little company called Geonet that's at the intersection of crypto and AI.
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Kristen0:44
Okay. And you did that on stage earlier. Is that right?
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Kyle Samani0:46
Yeah. About an hour ago.
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Kristen0:47
Yes. And what was the message there? What was the takeaway for viewers?
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Kyle Samani0:51
Yeah. So it was a pitch contest. So my job was to kind of find a weird unknown name and share it with the audience. So Geonet is a weird little token network that's growing super fast and it basically is a way where anyone in the world can help set up a global positioning network for hyper local GPS. So your phone GPS will go to about 2 meters. But if you're a drone or a robotic lawn mower or like a tractor that's using advanced AI, you need GPS location down to about 2 centimeters. So Geonet is basically a global network where anyone can contribute into building this positioning system. It's growing super fast and is returning cash to shareholders. It's a really, really cool project at the intersection of crypto and AI.
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Kristen1:30
Let's talk about Forward Industries because there might be some overlap there. Is there?
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Kyle Samani1:33
There's I think there will be in the near future. Yeah.
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Kristen1:36
Interesting. How so?
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Kyle Samani1:37
Well, so Forward Industries where I am chairman is the world's largest Solana digital asset treasury company. So we own a lot of Solana on the balance sheet. I think 7.2 or 7.3 million Sol these days. And we're doing all kinds of stuff on chain to earn both dollar denominated and Solana denominated yield above and beyond our cost of capital. And at Forward we're working across the Solana ecosystem with both DeFi teams as well as teams like Geonet to do really cool new innovative things to deploy our balance sheet and earn yield controllers.
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Kristen2:08
How would you describe the state of liquidity right now?
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Kyle Samani2:11
In crypto? Crypto is in a bear market right now. So today is kind of a rough day in the markets, but look, this is when money is made. You make money in bear markets and you realize it in bull markets. So right now I encourage people to go turn over stones, look for the little gems out there. There's plenty of gems out there. Not everything is AI. And you know, if you pick the right gems in a crypto market, you usually end up being rewarded in the bowl.
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Kristen2:35
Sounds like you're a long-term investor.
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Kyle Samani2:36
I am.
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Kristen2:37
Interesting. Okay, let's also talk about AI. You brought it up earlier and certainly it is a key theme here. Are you bullish on AI?
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Kyle Samani2:44
Absolutely.
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Kristen2:45
Why?
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Kyle Samani2:45
I mean it is obviously the most transformative technology I've used in my lifetime. I'm now vibe coding a lot of the day building some cool new consumer products and I could not have done what I am doing now 5 months ago. So when you extrapolate this out in the future, it is very clearly going to change the nature of all knowledge work.
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Kristen3:03
Yeah. How would you describe overall sentiment here for the market?
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Kyle Samani3:04
I think everyone is excited about AI, but I think they're worried just about valuations. You know, a lot of the AI names are just unbelievably hot. And obviously with SpaceX, OpenAI, and Anthropic all coming to the market at around the same time, there's a lot of worries of just like liquidity, obviously no pun intended.
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Kristen3:21
Yeah. So, where does that go from here?
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Kyle Samani3:24
I mean, look, as an investor, you make money by holding things you believe in through volatility. That's certainly what I've done in crypto over the last eight years. And it's what I'm doing now in AI. Will we have dips? Yeah. Hold the high quality names you love and believe in and you tend to get rewarded for those as the agentic economy grows.
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Kristen3:42
What else is in store for you here at the liquidity summit?
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Kyle Samani3:44
I'm spending time with a lot of the executives and investors here. We're diving deep on names like Geonet that I talked about earlier. Some people ask me about Forward where I'm chairman. And then exploring a lot of these crypto and AI themes.
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Kristen3:55
All right. Wonderful. Kyle, thanks so much for taking the time to join us at the NYSC Media Hub.
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Kyle Samani3:59
Kristen, thanks so much for having me.