Ryan Navi takes CIO role as Solana-focused treasury firms confront sharp equity declines
Forward Industries has tapped former ParaFi Capital executive Ryan Navi as its new chief investment officer, tasking him with guiding the company’s expanding Solana-focused treasury strategy at a moment when the sector’s publicly listed peers are facing steep market drawdowns.
Navi will oversee capital-markets initiatives, portfolio structuring, and the firm’s use of staking and validator operations to grow its holdings of SOL, according to Forward Industries’ announcement on Monday. The move builds on the company’s recent pivot into on-chain treasury management, a shift from its historical role as a design and manufacturing partner for medical and technology firms.
Before joining Forward, Navi led digital-asset investments at ParaFi Capital and previously worked on distressed and liquid credit at KKR. He began his career in investment banking at Citi, giving him what industry observers describe as “a blend of traditional credit expertise and hands-on digital-asset experience.”
Forward currently holds 6.9 million SOL, representing just over 1% of the circulating supply, positioning it among the largest Solana-oriented treasury companies, according to CoinGecko data. The firm launched its first institutional validator on Solana in October and later authorized a $1 billion share repurchase program to provide additional flexibility amid market volatility.
The broader Solana-treasury sector has seen sharp share-price corrections as SOL itself slid more than 30% over the past month. Companies such as Solana Co. (HSDT) and DeFi Development Corporation have posted declines of 37% and 40%, respectively. Forward Industries has been hit even harder, with its stock down nearly 80% from its September high.
One digital-assets analyst noted that “the sector’s equity performance is amplifying underlying token volatility,” while another emphasized that Forward’s leadership hire suggests “a commitment to building long-term Solana infrastructure despite short-term pressure.”
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