The Visionary Who Exited: Kyle Samani Steps Back from Multicoin Capital

Kyle Samani, the celebrated venture capitalist who has exited his daily responsibilities at Multicoin Capital, announced his departure on February 4th, 2026. The move marks a significant transition for one of crypto’s most recognizable figures, as the co-founder and managing partner transitions to an advisory capacity while pursuing interests in artificial intelligence, longevity science, and robotics.

From Early Solana Bet to Extraordinary Returns

Samani’s legacy in the cryptocurrency industry is inseparable from Solana’s trajectory. Since co-founding Multicoin with Tushar Jain in 2017, Samani positioned himself as an early believer in Solana’s vision, leading the firm’s participation in the blockchain’s first three financing rounds between 2018 and 2021. The conviction paid off spectacularly—by the end of 2021, Samani disclosed on the podcast The Wolf Of All Streets that Multicoin had achieved a 614,000% return on its Solana investment.

These weren’t mere lucky bets; they reflected Samani’s deliberate contrarian investment thesis. While Bitcoin faced criticism for lacking practical utility and Ethereum’s architectural complexities hindered scalability, Solana presented a compelling alternative vision. Samani became the ecosystem’s most vocal advocate, publicly championing SOL with the conviction that it would outperform both BTC and ETH over the long term.

Betting Against the Consensus: The Power of Contrarian Conviction

Samani’s investment approach distinguished itself through principled opposition to mainstream narratives. When Vitalik Buterin recently acknowledged historical missteps in Ethereum’s Layer 2 roadmap, Samani resurified a 2021 research piece comparing Ethereum and Solana’s scaling strategies, commenting that it represented “the beginning and end of Ethereum’s strategic failure.” Such blunt positioning—combined with his broader skepticism toward Bitcoin and Ethereum—made him controversial within the industry, particularly among Ethereum ecosystem advocates.

Yet this contrarian streak is precisely what peers recognize as exceptional. Hasseb Qureshi from rival firm Dragonfly Capital—despite competitive tensions—acknowledged Samani’s unmatched track record: “Investing is like a sport, and Samani is the highest scorer in history, unmatched by anyone.” Qureshi elaborated that Samani’s true skill lies in his willingness to allocate capital where consensus refuses, embodying the core function of venture capital: recognizing undervalued opportunities before markets do.

Weathering Crisis and Triumphing Through Conviction

The 2022 FTX collapse tested Samani’s resolve severely. As the Solana ecosystem plummeted—SOL crashed to $8 per token—Multicoin suffered devastating portfolio losses, posting a 91.4% annual decline, the worst in the firm’s history. Many would have abandoned ship.

Instead, Samani doubled down. Rather than retreating, he and Multicoin intensified their Solana ecosystem investments, demonstrating unwavering belief during the darkest period. This patience was rewarded as Solana executed what many consider crypto’s most impressive recovery, and Multicoin recouped substantial losses alongside the ecosystem’s resurgence.

By 2025, Samani’s faith in SOL-based opportunities remained unshaken. Multicoin co-led a $1.65 billion financing round for Forward Industries alongside Galaxy Digital and Jump Crypto—a digital asset treasury company that has become the largest SOL-focused initiative on the market, currently holding 6.82 million SOL (valued at approximately $626 million). Notably, Samani serves as the company’s board chairman.

An Investor’s Redemption: Personal Statement and Forward Industries Strategy

Samani’s exited status from Multicoin’s daily operations does not signal a departure from crypto conviction. In his personal statement on X, he emphasized: “After nearly a decade immersed in cryptocurrency, I remain more convinced than ever that crypto technology will fundamentally restructure finance. The Clarity Act’s passage will unleash unprecedented waves of applications and participants. I maintain a long-term positive outlook on crypto, particularly the Solana ecosystem, and will continue personal investments in this space.”

Strategically, Samani has chosen to concentrate his capital exposure rather than liquidate. His redemption from Multicoin’s main fund—scheduled for March 31, 2026—will not result in cash withdrawal. Instead, he will redeem shares and warrants from Forward Industries, substantially increasing his positioning in the Solana DAT landscape.

Beyond Crypto: Exploring AI, Longevity, and Robotics

As Samani transitions away from Multicoin’s operations, his intellectual focus broadens toward emerging technologies. While he disclosed plans for a temporary break before fully committing to new directions, hints of his trajectory emerged through a recent share of research by fellow Multicoin partner Shayon. The article explores a provocative reframing: rather than asking “what can AI do for humans?”, the more economically productive question becomes “how should humans augment AI?” This conceptual shift suggests Samani’s next chapter may involve reimagining human-AI collaboration as an investment thesis.

The exited venture capitalist now stands at a crossroads—still deeply embedded in Solana’s ecosystem through Forward Industries while expanding his intellectual horizons toward artificial intelligence, bioscience innovation, and autonomous systems. His departure from Multicoin’s daily grind represents not a retreat from conviction but a recalibration toward higher-conviction bets in emerging technology frontiers.