Kyle Samani, co-founder of Multicoin Capital, is anticipated to take on the role of chairman for a new Solana treasury vehicle, according to sources. This initiative aims to raise $1 billion and is being developed in collaboration with Galaxy Digital and Jump Crypto. The treasury is designed to be established through acquiring an undisclosed publicly traded company, with the transaction yet to be completed. Samani has been a significant supporter of Solana since its early days and is known for frequently advocating for the blockchain on social media. If successful in raising $1 billion, this treasury would surpass Upexi, currently the largest Solana treasury with a net asset value of $413 million. Notably, treasury companies for Solana hold a smaller percentage of its assets compared to their counterparts in the Bitcoin and Ether arenas, with only 1% of SOL held by treasury companies compared to 3.4% for Bitcoin and 2.9% for Ether.

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