Multicoin | Crypto

Cash fell to $4.5 million while Galaxy loans reached $120 million and 52.7% of reported SOL equivalents were pledged. The post Multicoin exits the $1.65 billion Solana treasury company it helped launch eight months ago appeared first on CryptoSlate.

Solana became one of Samani’s favorite crypto projects at Multicoin in 2018 after he initially favored Ethereum but grew dissatisfied with how its developers addressed scaling. Multicoin Capital’s co-founder, Kyle Samani, said he is stepping down as managing partner of the crypto investment firm after 10 years in the industry.  Samani called it a “bittersweet moment” in a post on Wednesday, adding, “I am excited to take some time off and explore new areas of technology,” which he later revealed would include AI and robotics. He added that he is “more confident than ever that crypto is going to fundamentally rewire the circuitry of finance.” Read more

Crypto giants Galaxy, Multicoin and Jump are seeking to raise $1 billion for a Solana treasury, with Cantor Fitzgerald as their lead banker. Update Aug. 25, 9:01 am UTC: This article has been updated to add more details about the current largest corporate SOL treasuries. Digital asset companies Galaxy Digital, Multicoin Capital and Jump Crypto are reportedly working to raise $1 billion to buy Solana.  A Bloomberg report citing anonymous sources said on Monday that the three companies are looking to form the largest treasury dedicated to Solana (SOL). It added that the three companies have tapped Cantor Fitzgerald as lead banker. Read more