Multicoin Capital’s Kyle Samani on Internet Capital Markets

Watch on YouTube ↗  |  October 01, 2025 at 19:57  |  13:32  |  All-In Podcast
Speakers
Kyle Samani — Chairman @fwdind. Figuring out what’s next after a wild run as Cofounder and Managing Partner @multicoin

Summary

Kyle Samani of Multicoin Capital gives an All-In Summit keynote arguing that capital markets, still built on the 1933, 1934 and 1940 securities laws and layers of rent-seeking intermediaries, will be rebuilt as 'internet capital markets' on blockchains. He says the technology is ready, citing Solana processing over a billion transactions a day at under a penny each, and that 2025 brings regulatory alignment through crypto executive orders, the Genius Act, the expected Clarity Act and SEC Chair Atkins' plan to move securities on-chain and permit regulated 'super apps' such as Robinhood, Coinbase and SoFi. He illustrates trading and prediction markets embedded in news media, sports TV, group chats, livestreams and podcasts, and predicts the legacy system will be consumed rather than adapt.

  • Modern markets still rest on the 1933, 1934 and 1940 securities laws; intermediaries add fees, delays, inertia and two-day settlement.
  • A first-principles redesign would be global, 24/7, programmable, permissionless and cryptographically secured on one ledger.
  • Solana cited as proof the tech is ready: over a billion transactions a day at an average cost under a penny.
  • 2025 regulatory alignment: crypto executive orders, the Genius Act for stablecoins, an expected Clarity Act and SEC Chair Atkins' on-chain agenda.
  • Atkins' 'regulation super app' would let platforms like Robinhood, Coinbase and SoFi offer crypto, tokenized and traditional securities plus staking, lending and DeFi from one interface.
  • Prediction markets and trading expected to embed in news, sports TV second screens, group chats, livestreams and podcasts.
  • Speaker expects legacy intermediaries to be consumed and calls 2025 the year the dam broke, akin to the 1996 Telecommunications Act.
Ideas
Kyle Samani Chairman @fwdind. Figuring out what’s next after a wild run as Cofounder and Managing Partner @multicoin 3:54
Solana powers on-chain internet capital markets.
Blockchains will be the infrastructure powering issuance, access and trading of every asset in what he calls internet capital markets: one global, 24/7, programmable, permissionless market secured by cryptography. The technology is finally ready because modern chains like Solana now process more than a billion transactions a day at an average cost under a penny, whereas older chains like Ethereum were too slow and expensive to scale. With 2025 regulatory alignment (crypto executive orders, the Genius Act, an expected Clarity Act and SEC Chair Atkins directing staff to bring securities markets on-chain), he expects a boom in on-chain DeFi activity, tokenized securities and trading embedded in media, group chats and livestreams, much of which is already happening daily on Solana. He calls 2025 the year the dam broke and a generational opportunity for investors and builders.
SOL MED
Kyle Samani Chairman @fwdind. Figuring out what’s next after a wild run as Cofounder and Managing Partner @multicoin 6:40
Regulated super-app rules favor Robinhood, Coinbase, SoFi.
SEC Chair Atkins' proposed 'regulation super app' framework would let one regulated front end trade non-security crypto assets, tokenized securities and traditional securities and offer staking, lending, trading and general DeFi access without 50 state licenses or multiple federal licenses. The makings of these super apps already exist in Robinhood, Coinbase and SoFi, which he expects will soon route users directly into crypto-native protocols such as Jito, Drift and Kamino. This convergence of regulated financial services and permissionless protocols opens capital-market access to people worldwide and should produce an absolute boom in on-chain activity, positioning these platforms as the distribution layer.
HOOD COIN SOFI MED
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This All-In Podcast video, published October 01, 2025, features Kyle Samani discussing SOL, HOOD, COIN, SOFI. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Kyle Samani  · Tickers: SOL, HOOD, COIN, SOFI