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Monday Dec 1 2025 22:10
2 min
Forward Industries, a prominent digital asset treasury company focused on SOL, has announced the appointment of Ryan Navi as its Chief Investment Officer. Navi will spearhead the execution of the company's Solana (SOL)-focused treasury strategy.
According to Monday's announcement, Navi will be responsible for sourcing and structuring capital markets opportunities, and directing how Forward Industries leverages its staking and validator infrastructure to bolster the accumulation of SOL, the native token of the Solana platform.
Navi joins Forward Industries from ParaFi Capital, where he led digital-asset investments. He previously served as a principal at investment firm KKR, focusing on liquid and distressed credit strategies. His career began in investment banking at Citi.
Forward Industries, which pivoted from a global design company serving medical and technology sectors to launching its treasury strategy in September, is among the firms banking on SOL tokens as part of a broader crypto treasury strategy. According to CoinGecko data, Forward currently holds 6,910,568 SOL, valued at approximately $863.5 million, representing slightly over 1% of the total SOL in circulation.
In October, the company launched its first institutional-grade validator node on the Solana blockchain, expanding its presence in the ecosystem. Forward authorized a $1 billion share repurchase program in November, enabling the company to buy back shares through open-market purchases, block trades, or privately negotiated transactions.
However, with the price of SOL declining by over 30% in the past month and currently trading around $125 per token, many of these companies' stock prices have reflected the downturn. Solana Co. (HSDT), the second-largest SOL-focused digital asset treasury, declined by nearly 37% over the past 30 days, while shares of DeFi Development Corporation (DFDV) plunged 40% over the same period. Forward Industries has also faced pressure, with its shares declining nearly 80% from a peak of $39 in September.
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