Kyle Samani, co-founder of crypto investment firm Multicoin Capital, is stepping down from his role as managing director, he announced Wednesday in a post on X.
“It’s a bittersweet moment for me because my time at Multicoin has been some of the most meaningful and rewarding of my life,” Samani wrote. “After nearly a decade in crypto, I’m more confident than ever that crypto is going to fundamentally rewire the circuitry of finance.”
Samani said he’s taking time off and “exploring other areas of technology,” but made clear he’s not walking away from crypto entirely. “While I’ll be stepping away professionally from the industry, I will continue to make personal investments in the space,” he wrote.
He also pointed to the potential impact of U.S. crypto legislation 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 spur adoption unlike anything we’ve seen,” he wrote.
Samani did not say what his next role would be or when he might return to the industry. As of now, Multicoin has not named a replacement. Co-managing partners Tushar Jain and Brian Smith are currently running the firm’s day-to-day operations.
Founded in 2017, Multicoin quickly gained visibility for backing projects like Solana and before they became widely known. It operates across both venture capital and liquid token markets, setting it apart from traditional VC firms.
Samani says he will remain as chairman at Solana treasury company Forward Industries (FWDI) and is requesting in-kind redemption in FWDI shares and warrants from the Multicoin Master Fund, rather than cash.