Kyle Samani, co-founder of Multicoin Capital and one of the most vocal believers in Web3, has stepped away from active involvement in the crypto venture capital world. His shift has sparked widespread discussion across the industry, especially as global interest in “Web3” remains strong on Google Trends. For many, his departure feels less like a personal decision and more like a reflection of a broader transition within crypto.
Who Is Kyle Samani in the Crypto Industry?
Kyle Samani is best known as a thesis-driven investor and early advocate of major crypto narratives. Through Multicoin Capital, he helped shape market thinking around topics such as DeFi, Solana, and DePIN. His long-form research and public theses influenced how builders and investors evaluated blockchain’s potential beyond speculation.
Why Did Multicoin Move From EOS to Solana?
In its early years, Multicoin strongly backed EOS, believing high throughput and low latency were essential for blockchain adoption. When EOS failed to deliver sustainable governance and developer growth, Multicoin reassessed its assumptions. This search led to Solana, a network designed for high-frequency, low-latency applications. Backed by strong technical performance and early validation from major players, Solana became Multicoin’s defining success and a core pillar of its reputation.
What Changed in Kyle Samani’s View of Web3?
Kyle’s recent statements suggest a more sober reassessment of Web3’s original vision. While early narratives promised decentralized applications reshaping the internet, real-world adoption has been slower and more fragmented than expected. His view that blockchain may function primarily as an asset ledger reflects a growing industry debate: whether crypto’s strongest use case lies in financial infrastructure rather than broad social or application layers.
How Did Multicoin Shape Crypto Narratives?
Multicoin has often been described as a “narrative engine.” By identifying long-term themes and articulating them clearly, the firm helped turn abstract ideas into investable sectors. One of its most influential contributions was DePIN—using token incentives to build real-world infrastructure. Projects like Helium demonstrated that crypto could coordinate physical networks, reinforcing interest in “DeFi” and infrastructure-driven blockchain use cases.
Does Kyle Samani Still Believe in Crypto?
Despite stepping back, Kyle has emphasized continued confidence in crypto, particularly Solana. He remains involved through personal investments and leadership roles tied to SOL exposure. His shift appears less about abandoning crypto and more about stepping away from day-to-day narrative building.
Conclusion
Kyle Samani’s departure marks the close of a chapter, not the collapse of crypto. Web3 narratives may be evolving, but core blockchain use cases—settlement, value transfer, and infrastructure—continue to grow. As cycles turn and expectations reset, the industry may be moving from grand visions toward more focused, durable applications.
