Multicoin co-founder’s tweet was deleted seconds before leaving: He no longer believes in the vision of Web3.

ChainCatcher message, according to community user records, Multicoin co-founder Kyle Samani responded yesterday to a tweet by X user Taran (@Taran_ss) titled “Bear Market Complaints” and said:

“Cryptocurrency is not 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. It will reshape finance, but that’s about it, not much more. DePIN is another noteworthy area. Cryptocurrencies will continue to improve, but all the truly interesting questions already have answers, except for on-chain privacy/confidentiality. (I still firmly believe Zama will win this race).”

Subsequently, Kyle quickly deleted the tweet and earlier today posted a resignation announcement, stating his decision to step down from Multicoin Capital, while continuing to serve as Chairman of Forward Industries (the largest SOL treasury company), looking forward to a temporary rest and exploring new directions in technology.

Kyle also tweeted in reply, saying he remains extremely bullish on SOL and cryptocurrencies personally, and will continue to participate in the crypto space both as an individual and as Chairman of Forward.

However, Multicoin Capital’s letter to LPs perhaps further confirms that “Kyle is no longer interested in cryptocurrencies,” as the letter states: “Kyle’s interests have expanded from cryptocurrencies to other tech fields such as artificial intelligence, life sciences, and robotics. He has decided to invest time exploring these emerging technologies.”