Kyle Samani, co-founder of Multicoin Capital, steps down as managing partner after 10 years. He plans to explore new areas of technology, including AI and robotics. Samani remains bullish on Solana despite previously criticizing Bitcoin and Ethereum. Multicoin Capital manages $5.9 billion in assets and is a major player in the crypto industry.

Samani’s entry into crypto was through Ethereum in 2016, but he later lost faith in the platform due to scaling issues. Multicoin’s early investment in Solana turned out to be highly profitable, with the firm managing billions in assets. Samani will now focus on exploring AI, longevity, and robotics.

In a letter co-written by Samani and Multicoin’s other co-founder, Tushar Jain, they expressed confidence in the future of crypto. They believe the industry is on the cusp of disruption and growth, with regulatory clarity and mainstream adoption on the horizon. Samani’s departure marks a new chapter for Multicoin as they continue to navigate the evolving crypto landscape.

Read more at Cointelegraph: Kyle Samani leaves Multicoin in ‘bittersweet moment’ to explore new tech