Backpack US has appointed Kyle Samani, co-founder of venture firm Multicoin Capital, to its board as the crypto brokerage expands its regulated offerings in the United States. Samani joins former SEC Commissioner Michael Piwowar, who was appointed to the board earlier this summer.
The appointments come as Backpack US operates a regulated brokerage and tokenized equities platform that launched in June 2026. The company is building its board with figures who have deep relationships in both finance and regulatory institutions.
Samani has been a vocal figure in crypto venture capital for over a decade, leading Multicoin through investments across multiple blockchain ecosystems and infrastructure projects. His addition to the board places an established allocator in a governance role at a time when U.S. crypto platforms are seeking to demonstrate alignment with the broader financial system.
Piwowar served as SEC Commissioner and Acting Chair of the agency before stepping down. His appointment to Backpack US's board in June marked his first major move into the private sector since leaving office. Both appointments place individuals with deep experience in financial regulation and institutional access into the company's governance.
Backpack US operates alongside Backpack, the company's offshore exchange and wallet platform. The U.S. entity's regulated brokerage and tokenized equities business represents a separate business line designed to operate under domestic financial oversight.
The board expansion occurs as U.S. crypto firms continue to hire former government officials and build compliance infrastructure in response to stricter regulatory scrutiny. Backpack US is one of several platforms attempting to launch tokenized securities offerings under existing securities law rather than awaiting new regulatory frameworks.
Backpack US now has two prominent board members with deep connections to financial regulation and institutional capital. Samani's venture background and Piwowar's regulatory experience cover the two poles the company appears to be targeting: credibility with both private capital and government agencies. The number of board appointments a startup makes is often correlated with the scale of capital it intends to deploy and the regulatory complexity it anticipates, though Backpack US has not disclosed its funding plans or board composition beyond these two names.
