Kyle Samani leaves Multicoin Capital to invest in AI, still firmly optimistic about Solana's future

Multicoin Capital Co-Founder Kyle Samani announced in early February 2026 that he is stepping down from his role as Managing Partner, describing it as a “bittersweet moment.” He plans to explore new fields such as artificial intelligence, robotics, and longevity science, while continuing to invest in cryptocurrencies as an individual and firmly supporting the Solana ecosystem.

Turning Point

An era symbol in the crypto venture capital space has faded. In February 2026, Kyle Samani, Co-Founder and Managing Partner of Multicoin Capital, publicly announced his gradual withdrawal from the company’s daily management and investment decisions.

In a statement posted on social media, he described this decision as “bittersweet.” Since co-founding Multicoin in 2017, Samani’s nearly decade-long career has been closely intertwined with the cyclical ups and downs of the crypto market. He is not only a decision-maker for the fund but also a shaper of industry perspectives, frequently sharing his distinctive and sometimes contrarian investment philosophies through long articles and public debates.

Change in Philosophy

This departure was not entirely unexpected. Shortly before the official announcement, Samani posted a tweet on social media that was quickly deleted afterward. In it, he candidly stated: “Cryptocurrency isn’t nearly as interesting as many (including myself) once imagined. I used to believe in the Web3 vision and dApps. Now I don’t.” He believes the core value of blockchain lies in reshaping finance as an asset ledger, but beyond that, its imaginative potential is narrowing. He pointed out that except for on-chain privacy and DePIN sectors, “all the truly interesting questions have already been answered.”

Multicoin also confirmed in a letter to investors that Samani’s interests have expanded from cryptocurrencies to other tech fields such as artificial intelligence, life sciences, and robotics.

Legacy Footprint

Although his personal interests have shifted, Samani has left a profound mark in the crypto world, especially within the Solana ecosystem. His departure has prompted industry reflections on his “legacy.”

As one of the earliest and most active evangelists, Samani led Multicoin’s early investment in Solana in 2018, which later proved to be one of the fund’s most successful investments. Even during the darkest moments when FTX collapsed and SOL’s price plummeted below $10, he persisted in his investment conviction. This steadfastness ultimately paid off, with SOL rebounding over 25 times. He also co-founded Forward Industries, a treasury company with SOL as its core asset, and proposed key ideas related to Solana’s performance, such as “increasing bandwidth and reducing latency.”

New Opportunities Ahead

Samani’s departure does not mean a complete exit. He has made it clear that he will continue to invest in the crypto industry as an individual and keep advocating for the Solana ecosystem. His first major role post-resignation is to remain Chairman of the Board at Forward Industries. This is a unique publicly listed company whose core strategy is to hold and operate a massive amount of Solana assets as a treasury.

As of January 2026, Forward Industries holds nearly 6.98 million SOL, almost all of which are staked to earn rewards, totaling over 133,000 SOL in staking incentives. Samani also plans to convert some of his holdings in Multicoin Master Fund into Forward Industries’ stock and warrants through physical redemption, significantly increasing his personal economic exposure to the company.

Market and Price

The movements of industry leaders often reflect market performance. According to Gate data, as of February 5, 2026, the overall market was in a correction phase. Solana’s market cap is approximately $50.75 billion, accounting for about 2.21% of the market. Its price has experienced fluctuations over the past 24 hours.

To better illustrate the long-term outlook of Samani’s favored Solana relative to the overall market, here is a snapshot of current major crypto assets:

In public comments, Samani continues to advocate for Solana. He believes that apart from stablecoins, Ethereum has no clear advantage in the real-world asset sector, while Solana has established a leading position in payments, applications, and DePIN sectors.

Aftershocks and Signals

Samani’s departure has been likened by Dragonfly Managing Partner Haseeb Qureshi to “Michael Jordan leaving the Chicago Bulls.” Samani responded to this analogy with “I won’t be returning to the Bulls,” implying a definitive decision. Some observers interpret this event as a signal of a phase bottleneck in the crypto industry. Amid waning market wealth effects and obstacles to product scaling and adoption, some early idealistic builders and investors are reassessing their involvement. Multicoin Capital’s investment pace has notably slowed since late 2025, with its activity ranking lower among well-known venture firms.

Nevertheless, Samani remains more confident than ever in the fundamental transformative power of the crypto industry. He believes that the regulatory clarity bills being pushed forward in the U.S. will unleash unprecedented new capital inflows.

After his departure, the assets he helped create at Forward Industries—nearly 7 million SOL—continue to quietly sit in the digital treasury, generating staking rewards. Multicoin Capital manages $5.9 billion in assets and continues operations under the leadership of co-founder Tushar Jain. Meanwhile, Samani’s social media profile has quietly been updated to focus on explorations in artificial intelligence and robotics. His quickly deleted tweet was like a stone thrown into a lake, ripples spreading outward. It read that the essence of blockchain is an asset ledger that reshapes finance, but “that’s all there is.”