A tweet that was quickly deleted was captured and saved by a sharp-eyed user in the community. In a reply to a "bear market rant" posted by X user Taran (@Taran_ss), Kyle Samani, co-founder of Multicoin Capital, unusually admitted his deep disappointment with the crypto industry—and this statement may be the real reason he chose to leave.
A tweet that was deleted in seconds has been exposed: "Blockchain is essentially an asset ledger."
According to community users, Kyle Samani wrote in a tweet:
Cryptocurrencies aren't nearly as interesting as many people (including myself) once imagined. I used to believe in the vision of Web3 and dApps. Now I don't. Blockchain is essentially an asset ledger. They will reshape finance, but that's about it—not much more.
He also pointed out that DePIN (Decentralized Entity Infrastructure Network) is another area worth paying attention to, and said that cryptocurrencies will continue to progress, but "all the really interesting questions have already been answered," with the only exception being on-chain privacy and confidentiality—he still firmly believes that Zama will win this race.
The statement was deleted shortly after it was posted, but it had already sparked widespread discussion in the crypto community. The impact of a top VC founder who has been involved in crypto investment since 2017 and was a staunch advocate for Solana declaring that he "no longer believes in Web3" is self-evident.
Abrupt departure: Will shift focus to AI and robotics.
Just hours after deleting the tweet, Kyle Samani officially announced his departure today, resigning as managing partner of Multicoin Capital. According to CoinDesk, he described the departure as "bittersweet" and revealed plans to take a break and explore new directions in the technology sector, including artificial intelligence and robotics.
Founded in 2017, Multicoin Capital gained prominence for its early investments in projects such as Solana and Helium. Following Kyle's departure, the company's day-to-day operations will be managed by co-managing partners Tushar Jain and Brian Smith.
The contradictory "remedy": still claiming a bullish outlook on SOL
Intriguingly, after deleting the candid tweet, Kyle immediately posted another message that seemed to be "repairing" the situation, stating that he remains "extremely bullish" on SOL and cryptocurrencies and will continue to be involved in the crypto space in his personal capacity and as chairman of Forward Industries (the largest SOL treasury company).
However, these contradictory statements have led the market to question: which one is the real Kyle Samani? Is he the disappointed individual who admitted in a quickly deleted tweet that "blockchain is just a ledger," or the investor who shouted "still bullish" in his resignation statement? When someone who co-built one of the most influential investment institutions in the crypto industry chooses to leave, perhaps the action itself has already given the clearest answer.
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