Kyle Samani, co-founder of cryptocurrency investment firm Multicoin Capital, is stepping down as CEO, he announced Wednesday in a post on X.
“It 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 almost a decade in the world of cryptocurrencies, I am more confident than ever that cryptocurrencies are going to fundamentally reshape the circuits of finance.”
Samani said he is taking some time off and “exploring other areas of technology,” but made it clear that he will not be walking away from cryptocurrencies completely. “While I will be stepping away from the industry professionally, I will continue to make personal investments in this space,” he wrote.
He also noted the potential impact of developing US cryptocurrency legislation, particularly the Clarity Act, a bill designed to provide legal definitions for crypto assets. “I believe the Clarity Act will unlock a wave of new entrants and spur adoption like we have never seen before,” he wrote.
Samani did not say what her next role would be or when she might return to the industry. So far, Multicoin has not named a replacement. Co-managing partners Tushar Jain and Brian Smith currently lead the firm’s day-to-day operations.
Founded in 2017, Multicoin quickly gained visibility for supporting projects like Solana. and before they became widely known. It operates in both venture capital and liquid token markets, which distinguishes it from traditional venture capital firms.
Samani says he will remain as president of Solana’s treasury company, Forward Industries (FWDI), and is requesting an in-kind repayment in FWDI shares and Multicoin Master Fund warrants, instead of cash.
