Kyle Samani, co-founder of crypto investment firm Multicoin Capital, is stepping down as chief executive, he announced in an article on X on Wednesday.
“This is a bittersweet moment for me because my time at Multicoin has been one of the most meaningful and rewarding of my life,” Samani wrote. “After nearly a decade in crypto, I am more convinced than ever that crypto will fundamentally rewire the financial circuits.”
Samani said he was taking time off and “exploring other areas of technology,” but made it clear he was not moving away from crypto entirely. “Although I will step away from the industry professionally, I will continue to invest in this sector personally,” he wrote.
He also highlighted the potential impact of U.S. crypto legislation currently in development, particularly the Clarity Act, a bill designed to provide legal definitions for crypto assets. “I believe the Clarity Act will unlock a tidal wave of new entrants and drive adoption like nothing we have seen,” he wrote.
Samani did not say what his next role would be or when he might return to the industry. For the moment, Multicoin has not named a replacement. Co-managing partners Tushar Jain and Brian Smith currently lead the day-to-day operations of the company.
Founded in 2017, Multicoin quickly gained visibility to support projects like Solana And before they were widely known. It operates in both the venture capital and liquid token markets, which sets it apart from traditional venture capital firms.
Samani says he will remain president of treasury company Solana Forward Industries (FWDI) and is seeking in-kind redemption in FWDI shares and warrants from the Multicoin Master Fund, rather than cash.
