Why Multicoin Capital’s Kyle Samani Is Leaving Crypto for AI and Robotics

TLDR

• Kyle Samani is stepping down as managing partner of Multicoin Capital after nearly a decade in the crypto industry
• He plans to explore other technologies including AI, longevity, and robotics while continuing personal crypto investments
• Samani remains bullish on Solana and crypto’s future, citing the Clarity Act as a potential catalyst for adoption
• Multicoin Capital manages $5.9 billion in assets and was an early investor in Solana starting in 2018
• Tushar Jain and Brian Smith will run Multicoin’s day-to-day operations while Samani stays as chairman of Forward Industries

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Kyle Samani announced Wednesday he is leaving his role as managing partner at Multicoin Capital. The co-founder shared the news in a post on X, calling it a “bittersweet moment.”

Samani founded Multicoin Capital in May 2017 alongside Tushar Jain. The firm grew into one of the crypto industry’s most prominent investment companies. It now manages $5.9 billion in assets as of May 2025.

The departure comes after nearly 10 years in the crypto sector. Samani said he plans to take time off and explore new areas of technology. These include artificial intelligence, longevity research, and robotics.

Early Crypto Journey and Ethereum Disillusionment

Samani’s entry into crypto began with Ethereum in 2016. He became convinced by the concept of permissionless finance and smart contracts. However, he later grew dissatisfied with how Ethereum developers handled scaling issues.

This disappointment led him to discover Solana in 2018. Multicoin went on to lead some of Solana’s earliest investment rounds. The bet proved successful as Solana became one of the firm’s best-performing investments.

Samani remains particularly bullish on Solana’s future. He will continue serving as chairman of Forward Industries, a Solana treasury company. He is requesting in-kind redemption in Forward Industries shares and warrants from the Multicoin Master Fund instead of cash.

Conflicting Statements Surface

A reportedly deleted X post from Samani appeared to contradict his optimistic public statements. In that post, he allegedly stated he no longer believes in the web3 vision and finds crypto less interesting than he once thought. The post could not be verified as it was deleted.

Regulatory Optimism and Future Leadership

Multicoin Capital has not named a replacement for Samani. Managing partner Tushar Jain and CFO/COO Brian Smith will handle the firm’s day-to-day operations. The company stated its conviction on crypto remains strong.

In a joint letter, Samani and Jain described this as a critical inflection point for crypto. They pointed to regulatory clarity, infrastructure maturity, and mainstream adoption as key factors. The firm believes crypto can meaningfully disrupt global financial and capital markets.

Samani did not specify when or if he might return to the crypto industry professionally. He made clear his exploration of other technologies does not mean abandoning crypto entirely. His personal investments and role at Forward Industries will keep him connected to the space.

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