Multicoin Capital co-founder Kyle Samani said he is stepping down as managing partner after roughly a decade in crypto, calling the move a “bittersweet moment.” In a post on X, Samani said he plans to take time away to explore other technology areas, later naming AI, robotics and longevity as particular interests.
Despite the departure, Samani emphasized he still believes in crypto’s long-term promise. He pointed to pending regulatory clarity — referencing the so-called “Clarity Act” — as a catalyst that will bring new participants and speed adoption. He also said he remains personally bullish on Solana and will continue making personal crypto investments and supporting Multicoin portfolio companies.
The announcement followed an earlier, reportedly deleted X post in which Samani wrote that he no longer believed in the web3 vision and found crypto less engaging than many had hoped. He has previously voiced criticisms of aspects of both the Bitcoin and Ethereum ecosystems.
Samani has said he first entered crypto after discovering Ethereum in 2016, drawn by permissionless finance and smart contracts, though he later expressed disappointment with how Ethereum’s developers addressed scaling. After co-founding Multicoin in May 2017, he encountered Solana and led some of its earliest funding rounds in 2018 — investments that became important for the firm.
Multicoin disclosed it managed about $5.9 billion in assets as of May 2025, placing it among the larger crypto-focused firms. In a joint letter with co-founder Tushar Jain, the firm said Samani will pursue other technologies while reaffirming Multicoin’s conviction in crypto. The letter framed the industry as being at a critical inflection point, with regulatory clarity, maturing infrastructure and prospects for mainstream adoption positioning crypto to meaningfully disrupt global finance and capital markets.