Multicoin co-founder has deleted the tweet: Cryptocurrency isn't as exciting as expected, and the potential of blockchain is limited

PANews February 5th News, in response to Taran’s tweet about the future of the crypto industry, Kyle Samani, co-founder of Multicoin Capital, replied that cryptocurrencies are not as interesting as many crypto enthusiasts hope. He stated that he once believed in the vision of Web3, but now considers blockchain primarily as an asset ledger. While it can reshape finance, its potential in other fields is limited, with decentralized physical infrastructure networks (DePIN) being a rare exception. Additionally, he mentioned that on-chain privacy remains an unresolved technical issue and expressed optimism about Zama’s solution. The tweet was quickly deleted by Kyle shortly after posting.
Earlier reports indicate that Kyle Samani, co-founder of Multicoin, has transitioned to an advisory role, focusing on emerging technologies such as AI and robotics.