BlockBeats News, February 5th, as recorded by community user, Multicoin co-founder Kyle Samani expressed yesterday in response to user X Taran’s (@Taran_ss) “bear market rant”:
“Cryptocurrency is fundamentally not as fun as many people (including myself) once imagined. I used to believe in the vision of Web3, believe in dApps. Now I don’t believe anymore. Blockchain is fundamentally an asset ledger. They will reshape finance, but that’s about it, not much more. DeFi is another area worth noting. Cryptocurrency will continue to get better, but all the truly interesting questions have already been answered, except for on-chain privacy/confidentiality. (I still believe Zama will win this race.)”
Shortly after, Kyle quickly deleted the tweet and earlier today posted a resignation announcement, stating his decision to step down from Multicoin Capital, to continue as Chairman of Forward Industries (largest SOL treasury company), looking forward to taking a break and exploring new directions in the tech space.
Kyle later tweeted in response that he personally remains extremely bullish on SOL and cryptocurrency, and will continue to engage in the cryptocurrency field both in a personal capacity and as Chairman of Forward.
However, Multicoin Capital’s letter to LPs may further validate the “Kyle is no longer interested in crypto” matter, stating that “Kyle’s interests have expanded from cryptocurrency to other areas of technology such as artificial intelligence, life sciences, robotics, and he has decided to devote time to exploring these emerging technologies.”
