Multicoin's Kyle Samani departs in 'bittersweet' transition to pursue emerging technologies
Prominent Solana advocate Kyle Samani announces departure from his Multicoin partnership to pursue new technological frontiers in AI, robotics and longevity research.
Kyle Samani, one of the co-founders of Multicoin Capital, has announced his decision to step away from his role as managing partner at the cryptocurrency investment firm following a decade in the digital asset sector.
In a Wednesday post, Samani described the moment as "bittersweet," stating, "I am excited to take some time off and explore new areas of technology," which he subsequently clarified would encompass AI and robotics among other fields.
Despite his departure, he expressed that he remains "more confident than ever that crypto is going to fundamentally rewire the circuitry of finance."
Regarding regulatory developments, Samani said, "The Clarity Act will unlock a tidal wave of new entrants and spur adoption unlike anything we've seen," while noting his continued optimism about Solana and his plans to keep making personal investments in the cryptocurrency sector while supporting companies within Multicoin's investment portfolio.
The announcement, however, seems to contradict a reportedly deleted prior X post, where he allegedly wrote: "I once believed in the web3 vision. dapps. I don't anymore…Crypto is just fundamentally not as interesting as many crypto enthusiasts wanted. Myself included."
Throughout his career, Samani has been outspoken in his criticism of the Bitcoin and Ethereum ecosystems.
In the previous month, Samani revealed that his introduction to the cryptocurrency world came through discovering Ethereum in 2016, explaining that he became convinced by the potential of permissionless finance and smart contracts.
Nevertheless, his enthusiasm for Ethereum eventually waned, citing his disappointment with the approach Ethereum developers took toward addressing scaling challenges.
Samani helped turn Multicoin into a $5.9 billion company
His encounter with the Solana blockchain occurred soon after he established Multicoin in May 2017, with the firm subsequently leading several of Solana's earliest funding rounds throughout 2018.
The Solana investment proved to be among Multicoin's most successful decisions, with the firm disclosing that it managed $5.9 billion worth of assets as of May 2025, establishing its position as one of the leading investment firms within the cryptocurrency industry.
A joint letter authored by Samani alongside Multicoin's other co-founder, Tushar Jain, indicated that Samani's upcoming chapter would involve investigating other technologies, which include AI, longevity and robotics.
Despite Samani's departure, Multicoin emphasized that its belief in cryptocurrency remains robust, declaring:
"In our view, crypto is at a critical inflection point — on the eve of regulatory clarity, infrastructure maturity, and mainstream adoption — where it can meaningfully disrupt global financial and capital markets."