Multicoin co-founder deleted tweet before resignation: No longer believes in the vision of Web3
BlockBeats News, February 5, according to records from community users, Multicoin co-founder Kyle Samani responded to X user Taran (@Taran_ss)'s "bear market complaints" yesterday, stating:
"Cryptocurrency is not nearly as interesting as many people (myself included) once imagined. I used to believe in the vision of Web3, believed in dApps. Now I don't. Blockchains are essentially asset ledgers. They will reshape finance, but that's about it, not much more. DePIN is another area worth noting. Crypto will continue to improve, but all the truly interesting questions have already been answered, except for the issue of on-chain privacy/confidentiality. (I still firmly believe Zama will win in this track)."
Afterwards, Kyle quickly deleted the tweet and earlier today released a resignation announcement, stating that he has decided to step down from Multicoin Capital, will continue to serve as chairman of Forward Industries (the largest SOL treasury company), and looks forward to taking a break and exploring new directions in the technology sector.
Kyle also posted a tweet in response, stating that he personally remains extremely bullish on SOL and cryptocurrency, and will continue to participate in the crypto field both personally and as chairman of Forward.
However, Multicoin Capital's letter to LPs may further confirm the notion that "Kyle is no longer interested in crypto." The letter states, "Kyle's interests have expanded from cryptocurrency to other technology fields such as artificial intelligence, life sciences, and robotics. He has decided to devote time to exploring these emerging technologies."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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