Forward Industries, the Nasdaq-listed company that has transformed itself into a Solana-focused treasury operator, has appointed veteran digital-asset attorney Georgia Quinn as its new General Counsel. The company announced it in a X post Tuesday. The move marks a significant expansion of Forward’s legal and compliance capabilities as it rapidly scales its SOL-based treasury strategy.
But the appointment also comes with a compelling twist already circulating on X.
Raj Gokal, co-founder of Solana, reposted Forward’s announcement with a personal note: he once tried – and failed – to hire Georgia Quinn as Solana’s first general counsel. Now, years later, he celebrated seeing her join the Solana ecosystem through Forward, writing:
“I tried (and failed) to hire Georgia as our first general counsel. Thrilled all these years later to see her joining the ecosystem through Forward.”
The remark reflects that Quinn has been one of the most sought-after legal minds in the digital-asset sector.
I tried (and failed) to hire Georgia as our first general counsel. thrilled all these years later to see her joining the ecosystem through forward.
all roads lead to solana! https://t.co/bzbwhWTF1O
— raj 🖤 (@rajgokal) November 25, 2025
Former Securitize Lawyer Joins Solana Treasury Company
At Forward, Quinn will take charge of corporate governance, compliance, litigation, regulatory affairs, and public-policy strategy. The company noted that her role will be central as it scales a Solana-denominated treasury “at size,” a strategy it has been executing aggressively throughout 2025.
Kyle Samani, chairman of Forward, emphasized that Quinn’s track record in building crypto-native compliance frameworks makes her uniquely equipped for the role.
Interestingly, Quinn’s background spans some of the most influential blockchain institutions. She previously served as Chief Legal Officer at Securitize, General Counsel at Anchorage Digital and Capital markets attorney earlier in her career.
Her experience building compliant token-issuance and custody frameworks positions her to help Forward expand its on-chain strategy while navigating fast-shifting U.S. and global regulations.
Also Read: Wormhole Debuts Sunrise to Fix Solana’s Broken Token Listing Experience
The Growing Scrutiny on DATs
The appointment of one of the industry’s leading digital-asset attorneys comes at a pivotal moment for Forward.
The company’s total Solana holdings have now crossed 6.9 million SOL as of November 2025. This is a level that places it among the largest corporate holders of the asset.
With current market liquidity and volatility still uneven across crypto markets, there’s also a renewed debate around whether Digital Asset Treasury (DAT) companies should continue concentrating heavily in Bitcoin, Solana, or digital assets more broadly.
This debate intensified after Bitwise CIO Matt Hougan publicly addressed what he called widespread “bad analysis” of DATs. In a widely discussed post, Hougan argued that most digital-asset treasury companies should not trade at a premium to the value of their token holdings. This is unless they actively demonstrate an ability to increase tokens-per-share through smart balance-sheet strategies.
1/ I see a lot of bad analysis of DATs, or digital asset treasury companies. Specifically, I see a lot of bad takes on whether they should trade at, above, or below the value of the assets they hold (their so-called “mNAV”).
Here’s how I approach it.
— Matt Hougan (@Matt_Hougan) November 23, 2025
He warned that passive “buy-and-hold” DATs, especially those taking on operational or liquidity risk, often deserve a discount, not a premium.
Forward’s need for a top-tier legal lead becomes also important from regulatory angle. DAT companies now operate in one of the most highly scrutinized corners of U.S. regulation. There are growing questions around whether DATs qualify as unregistered investment companies, amid rising SEC and CFTC enforcement. There are also complex public-company disclosure requirements, and ongoing uncertainty over how assets like SOL, staking rewards, and on-chain activities are classified, thus, the legal risk profile is steep.
In this climate, appointing an experienced crypto regulator like Georgia Quinn is less optional and more essential for Forward’s long-term survivability.
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