Former Solana Foundation employee starts US media company
Allmight is focused on furthering the United States’ leadership in crypto
wellphoto/Shutterstock modified by Blockworks
This is a segment from the Lightspeed newsletter. To read full editions, subscribe.
Allmight founder Kevin Ricoy knew he wanted to create a media company after realizing that policy and social change are downstream from culture — and culture that is funny or entertaining is most effective of all.
“What affected culture more? Was it CNN or MTV News? It was MTV News,” Ricoy opined on a call this week.
Ricoy is the founder of Allmight, a new media startup focused on furthering the United States’ leadership in crypto. The initiative caught a nice boost from the recent US presidential election and a growing sense that a friendlier regulatory environment could drive crypto business back to the world’s biggest economy.
Allmight’s first product is “This Week in Crypto,” a late night talk-style show that summarizes crypto news with a punchy, irreverent bent. A couple of these videos have garnered hundreds of thousands of views on X. He plans to expand Allmight’s content offerings, creating what he calls next-gen Americana — “low noise, high signal, and actually entertaining.” When I asked if Ricoy wants to become a sort of crypto version of Jon Stewart, he responded: “I would love that.”
On top of monetizing content with ads and sponsorships, Allmight plans to host events and help in job placement for US-based candidates. It also hopes to boost awareness of policymakers’ efforts to legislate on crypto. Further down the road, it might even explore something like crowdfunded investment, Ricoy said.
This was all in the works in the lead up to the US presidential election, but in the aftermath of a Trump win and presumably more crypto-friendly regulatory environment, Ricoy said he’s seen a “500% increase in interest and optimism” surrounding his project.
With crypto prices at record highs and crypto’s fear of US regulators seeming to abate, America’s crypto scene seems to be having a moment.
“I’m in the right place at the right time, and it’s pretty cool,” Ricoy said.
Years ago, Ricoy was running a construction labor company when he decided to found a crypto app. With the help of some developers, he launched an app to promote SoundCloud music with Kin, the cryptocurrency debuted by the messaging app Kik during crypto’s 2017 initial coin offering (ICO) boom. Kik liked the app and extended Ricoy an offer to become its head of communications.
Kin would spark a knock-down-drag-out fight with the SEC, and Kik messenger eventually shut down amid the legal battle. After some time working for Kin’s foundation, Ricoy joined the Solana Foundation as community relations manager, where he drove the launch of Solana’s community grants program. After a little over a year, Ricoy resigned to pursue Allmight.
Allmight received a grant from the Solana Foundation, but Ricoy said he was clear that his mandate is to grow crypto outside of just Solana, and the foundation was supportive. I asked later in a text how Ricoy plans to grow a blockchain-agnostic crypto community in the US given all the sectarian fighting that seems to happen constantly between crypto ecosystems.
Ricoy said a rising tide can lift all boats, and noted how the Solana Foundation and Polygon Labs have worked together on policy in Washington, DC.
“[W]ho knows, maybe efforts like these can even help bridge communities and put a dent in the tribalism overall,” Ricoy wrote.
Get the news in your inbox. Explore Blockworks newsletters:
- Blockworks Daily: The newsletter that helps thousands of investors understand crypto and the markets, by Byron Gilliam.
- Empire: Start your morning with the top news and analysis to inform your day in crypto.
- Forward Guidance: Reporting and analysis on the growing intersection of crypto and macroeconomics, policy and finance.
- 0xResearch: Alpha directly in your inbox. Market highlights, data, degen trade ideas, governance updates, token performance and more.
- Lightspeed: Built for Solana investors, developers and community members. The latest from one of crypto’s hottest networks.
- The Drop: For crypto collectors and traders, covering apps, games, memes and more.
- Supply Shock: Tracking Bitcoin’s rise from internet plaything worth less than a penny to global phenomenon disrupting money as we know it.
