Who is investing or holding$SOL then read immediately 🚨🚨🚨
Just within a few hours, the global crypto community was shaken when Kyle Samani, co-founder and Managing Partner of the famous investment fund Multicoin Capital, officially announced his resignation and revealed a quickly deleted tweet expressing deep disappointment about the future of Web3.
Tweet deleted – but was saved by the community
Before announcing his resignation, Kyle Samani posted a blunt tweet (which was deleted just a few seconds later) in response to a complaint about the bear market. The content was captured and widely spread by the community:
"Crypto is not as exciting as many people (including myself) once imagined. I used to believe in the Web3 and dApps vision. Now I no longer do. Blockchain is essentially just an asset ledger. It will reshape the financial industry, but that's all – nothing more."
Kyle also mentioned DePIN remains a noteworthy field, and he believes Zama will lead in privacy on the blockchain. However, he concluded: "All the really interesting questions have been answered."
This tweet was quickly deleted, but it was enough to cause a stir in the community – especially coming from one of Solana's most passionate supporters since 2017.
Resigned immediately after: Shifting focus to AI and robotics
Just a few hours later, Kyle Samani officially announced his departure from the position of Managing Partner at Multicoin Capital – the fund he co-founded in 2017 and is known for its early investments in Solana and Helium. He described this decision as "mixed feelings," while revealing that he will take a break and shift his focus to new technology fields: artificial intelligence (AI), longevity, and robotics.
The daily operations of Multicoin Capital will be handled by the two remaining co-founders – Tushar Jain and Brian Smith.
Still "extremely bullish" on $SOL : Contradictory message?
What confuses the market is that in his resignation statement, Kyle Samani emphasized that he still has "extremely high hopes for price increases" (mega long) for crypto in general and Solana in particular. He asserted that he will continue to invest personally in the crypto space and maintain his role as Chairman at Forward Industries – a major SOL treasury management company.
The clear contradiction between the deleted tweet "disappointed Web3" and the statement "still bullish on SOL" has raised many questions: Has Kyle really lost faith in the "grand narrative" of crypto, or is it just a moment of outburst?
Impact on the market
As one of the most influential voices in the Solana ecosystem, Kyle Samani's departure is seen as a notable signal – especially in the context of a prolonged bear market. Although he has not completely abandoned crypto, the acknowledgment that "blockchain is just an asset ledger" from an OG like Kyle makes many people reconsider the lofty expectations once placed on Web3 and dApps.
Currently, the price of SOL is still under downward pressure, but there has not been extreme volatility immediately following this news. The biggest question remains unanswered: Could this be a sign of a larger shift in the mindset of institutional investors?