Ex-Multicoin co-founder Kyle Samani criticizes his former firm for opposing Solana developer interests through regulatory advocacy on prediction markets.
Regulation & Gov ·
Kyle Samani, who co-founded Multicoin Capital and served as a managing partner before stepping back from that role in February 2026, has publicly accused his former firm of opposing the interests of developers working on Solana. According to Samani, Multicoin is "working against everything you are building," a statement directed at the Solana developer community.
The disagreement centers on regulatory positioning. Multicoin and the Hyperliquid Policy Center jointly filed to support the CFTC as the exclusive federal regulator of exchange-traded prediction markets, while also advocating for clearer rules and increased transparency around contract approvals. Samani's critique suggests this regulatory stance conflicts with what Solana builders are pursuing, though the material does not specify exactly which developer initiatives are at odds with the filing.
Samani remains an active participant in the Solana ecosystem despite his departure from Multicoin's management. The nature and scope of the regulatory disagreement—and whether other Solana developers or organizations share Samani's view—remain unclear from the available reporting.