{"id":63142,"date":"2026-02-06T11:10:15","date_gmt":"2026-02-06T08:10:15","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=63142"},"modified":"2026-02-06T11:10:15","modified_gmt":"2026-02-06T08:10:15","slug":"web3-is-dead-statement-famous-crypto-investor-resigns","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/web3-is-dead-statement-famous-crypto-investor-resigns\/","title":{"rendered":"Web3 Is Dead\u2019 Statement: Famous Crypto Investor Resigns!"},"content":{"rendered":"<p>One of the well-known figures in the cryptocurrency sector, Kyle Samani, has announced that he has stepped down from his role at Multicoin Capital, which he co-founded. What makes Samani\u2019s resignation particularly striking, however, is a post he shared just hours before the announcement\u2014later deleted\u2014in which he delivered harsh criticism of the crypto sector, especially the Web3 vision. These remarks suggest a fundamental shift in Samani\u2019s perspective on crypto, a space in which he has played an influential role for years, and they have sparked widespread discussion among market participants.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/web3-is-dead-statement-famous-crypto-investor-resigns\/#%E2%80%9CI_Used_to_Believe%E2%80%94Now_I_Dont%E2%80%9D\" title=\"\u201cI Used to Believe\u2014Now I Don\u2019t\u201d\">\u201cI Used to Believe\u2014Now I Don\u2019t\u201d<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/web3-is-dead-statement-famous-crypto-investor-resigns\/#Still_Bullish_on_Price_Bearish_on_the_Narrative\" title=\"Still Bullish on Price, Bearish on the Narrative\">Still Bullish on Price, Bearish on the Narrative<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/web3-is-dead-statement-famous-crypto-investor-resigns\/#Official_Departure_From_Multicoin_Capital\" title=\"Official Departure From Multicoin Capital\">Official Departure From Multicoin Capital<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/coinengineer.net\/blog\/web3-is-dead-statement-famous-crypto-investor-resigns\/#Assessment\" title=\"Assessment\">Assessment<\/a><\/li><\/ul><\/nav><\/div>\n<h3 data-start=\"685\" data-end=\"720\"><span class=\"ez-toc-section\" id=\"%E2%80%9CI_Used_to_Believe%E2%80%94Now_I_Dont%E2%80%9D\"><\/span>\u201cI Used to Believe\u2014Now I Don\u2019t\u201d<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p data-start=\"721\" data-end=\"983\">Considered one of the earliest and most influential investors in the crypto ecosystem, Samani openly expressed a deep change in his views in the deleted post. Arguing that crypto is not as appealing to a broad audience as many in the industry believe, he stated:<\/p>\n<blockquote>\n<p data-start=\"987\" data-end=\"1182\">\u201cCrypto is simply not as interesting to as many people as crypto enthusiasts want to believe. That includes me. I once believed in the Web3 vision and decentralized applications. I no longer do.\u201d<\/p>\n<\/blockquote>\n<p data-start=\"1184\" data-end=\"1500\">Samani also redefined what he sees as the core function of blockchain technology, emphasizing that blockchains essentially serve as asset registries. According to him, while blockchain will drive meaningful change in finance, it may not have as wide-ranging use cases as those promoted within the Web3 narrative.<\/p>\n<h3 data-start=\"1502\" data-end=\"1554\"><span class=\"ez-toc-section\" id=\"Still_Bullish_on_Price_Bearish_on_the_Narrative\"><\/span>Still Bullish on Price, Bearish on the Narrative<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p data-start=\"1555\" data-end=\"1763\">Despite his criticism, the U.S.-based investor did not completely dismiss the price upside potential of cryptocurrencies. However, he signaled that the narrative side of the industry has run out of steam:<\/p>\n<blockquote>\n<p data-start=\"1767\" data-end=\"1885\">\u201cCrypto will go higher. But aside from privacy, many of the questions once framed as exciting have now been answered.\u201d<\/p>\n<\/blockquote>\n<p data-start=\"1887\" data-end=\"2069\">These remarks suggest that Samani continues to view crypto as a financial asset class, while having lost faith in the broader vision built around Web3 and decentralized applications.<\/p>\n<h3 data-start=\"2071\" data-end=\"2116\"><span class=\"ez-toc-section\" id=\"Official_Departure_From_Multicoin_Capital\"><\/span>Official Departure From Multicoin Capital<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p data-start=\"2117\" data-end=\"2470\">Following the deleted post, Kyle Samani released a more formal and detailed statement confirming his departure from Multicoin Capital. He explained that he plans to step back for a while to rest and explore new and emerging areas of technology. His decision has been interpreted as a strategic break after years of intense involvement in the sector.<\/p>\n<p data-start=\"2472\" data-end=\"2863\">Founded in 2017, Multicoin Capital is regarded as one of the most influential venture capital funds in the crypto ecosystem. The firm gained prominence through early investments in projects such as Solana, Helium, and The Graph. According to current data, Multicoin Capital manages a portfolio of approximately $6 billion, highlighting its continued significance in the industry.<\/p>\n<h3 data-start=\"2865\" data-end=\"2879\"><span class=\"ez-toc-section\" id=\"Assessment\"><\/span>Assessment<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p data-start=\"2880\" data-end=\"3266\">Kyle Samani\u2019s resignation and his criticism of Web3 are seen as an important signal that long-standing narratives and expectations within the crypto industry are being re-evaluated. When figures who helped shape the early stages of the sector voice such doubts, it points to a potential shift toward a more pragmatic and finance-focused interpretation of crypto in the period ahead.<\/p>\n<p class=\"darkmysite_style_txt_border darkmysite_processed\" data-start=\"3243\" data-end=\"3445\" data-is-last-node=\"\" data-is-only-node=\"\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Y<em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">ou can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Telegram,\u00a0<\/a><a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">YouTube<\/a>,\u00a0and\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Twitter<\/a>\u00a0channels for the latest\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">news<\/a>\u00a0and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>One of the well-known figures in the cryptocurrency sector, Kyle Samani, has announced that he has stepped down from his role at Multicoin Capital, which he co-founded. What makes Samani\u2019s resignation particularly striking, however, is a post he shared just hours before the announcement\u2014later deleted\u2014in which he delivered harsh criticism of the crypto sector, especially<\/p>\n","protected":false},"author":37,"featured_media":63125,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[192,393,840,847,336,58,5760],"class_list":["post-63142","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-blockchain","tag-crypto","tag-crypto-market","tag-crypto-news","tag-cryptocurrencies","tag-cryptocurrency","tag-digital-assets"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Web3 Is Dead\u2019 Statement: Famous Crypto Investor Resigns!<\/title>\n<meta name=\"description\" content=\"Kyle Samani, has 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