Gm! This week Kyle Samani joins the show to discuss his most recent piece "The Solana Thesis: Internet Capital Markets". We deep dive into Kyle's current thesis for Solana, bringing TradFi on chain, the opportunity in DePIN & AI, the state of crypto venture & more. Enjoy!

The Solana Thesis: Internet Capital Markets: https://multicoin.capital/2025/01/22/the-solana-thesis-internet-capital-markets/

--

Follow Kyle: https://x.com/KyleSamani

Follow Mert: https://x.com/0xMert_

Follow Jack: https://x.com/whosknave

Follow Lightspeed: https://twitter.com/Lightspeedpodhq

Subscribe to the Lightspeed Newsletter: https://blockworks.co/newsletter/lightspeed

--

Use Code LIGHTSPEED10 for 10% off tickets to Digital Asset Summit 2025: https://blockworks.co/event/digital-asset-summit-2025-new-york

--

Ledger, the global leader in digital asset security, proudly sponsors the Lightspeed podcast. As Ledger celebrates 10 years of securing 20% of global crypto, it remains the top choice for securing your Solana assets. Buy a LEDGER™ device now and build confidently, knowing your SOL are safe.

Buy now on https://shop.ledger.com/?r=1da180a5de00.

--

Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/

--

(00:00) Introduction

(01:19) The Solana Thesis: Internet Capital Markets

(03:57) Payments, Financial Services & The Role Of MEV

(07:04) Latency On Solana

(10:02) Ledger Ad

(10:49) What Is Conditional Liquidity?

(14:09) Bringing TradFi On Chain

(18:53) Atomic Composability

(23:33) UX Interoperability

(29:05) The Future Of Ethereum Is Coinbase

(36:46) Sandwich Attacks On Solana

(40:10) Fee Reductions In Crypto

(43:32) DePIN & AI

(47:57) The State Of Crypto VC

(50:34) The Solana ETF

--

Disclaimers:

Lightspeed was kickstarted by a grant from the Solana Foundation.

Nothing said on Lightspeed is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Mert, Jack, and our guests may hold positions in the companies, funds, or projects discussed.