Kyle Samani, co-founder of crypto investment firm Multicoin Capital, is stepping down from his role as CEO, he announced Wednesday in a post on X.
“It’s 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 confident than ever that crypto will fundamentally reshape the financial circuit.”
Samani said he’s taking time off and “exploring other areas of technology,” but made it clear he’s not walking away from crypto entirely. “While I will 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 developing US crypto legislation, 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. At this time, Multicoin has not named a replacement. Co-managing partners Tushar Jain and Brian Smith currently run the company’s day-to-day operations.
Multicoin was founded in 2017 and quickly gained visibility for supporting 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 of Solana’s financial company Forward Industries (FWDI) and is requesting an in-kind redemption of FWDI shares and warrants from the Multicoin Master Fund instead of cash.
