Multicoin Capital managing partner Kyle Samani is expected to serve as chairman for a forthcoming Solana treasury vehicle, three sources with knowledge of the matter said.

Multicoin hatched plans for a potential $1 billion Solana digital asset treasury company, alongside Galaxy Digital and Jump Crypto, Bloomberg first reported.

According to the report, the DAT is expected to be created via a takeover of an undisclosed publicly traded entity. The transaction is yet to take place. 

Multicoin and Galaxy declined to comment. Samani and Jump did not return requests for comment.

Samani’s role as chairman could answer a question on many Solana watchers’ minds lately: Who will…

Read more on Blockworks