Multicoin Co-Founder's Deleted Tweet Before Resigning: No Longer Believes in Web3 Vision

BlockBeats News, February 5th, according to community user records, Multicoin co-founder Kyle Samani yesterday replied to user Taran's (@Taran_ss) "bear market rant" post, saying:

"Cryptocurrency just isn't as interesting as many people (including myself) once imagined. I used to believe in the vision of Web3, believed 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 improve, but all the truly interesting questions have been answered, except for on-chain privacy/confidentiality (I still believe Zama will win this race though)."

Shortly after, Kyle quickly deleted the tweet and earlier today released a resignation announcement, stating his decision to step down from Multicoin Capital and continue as Chairman of Forward Industries (the largest SOL treasury company), looking forward to taking a break and exploring new directions in the tech space.

Kyle also tweeted that he personally remains extremely bullish on SOL and cryptocurrency, and will continue to be involved in the cryptocurrency space 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" issue, stating, "Kyle's interests have expanded from cryptocurrency to other technology fields such as artificial intelligence, life sciences, robotics, and he has decided to dedicate time exploring these emerging technologies."