Multicoin co-founder's deleted tweet: Cryptocurrency isn't as interesting as expected, blockchain has limited potential.

PANews reported on February 5th that 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 expect. He stated that he once believed in the vision of Web3, but now believes that blockchain is primarily an asset ledger, and while it can reshape finance, its potential in other areas is limited, with decentralized physical infrastructure networks (DePIN) being one of the few exceptions. He also mentioned that on-chain privacy remains an unresolved technical issue and expressed optimism about Zama's solution. Kyle quickly deleted the tweet shortly after it was posted.

Previously, it was reported that Multicoin co-founder Kyle Samani has moved to an advisory role, focusing on emerging technologies such as AI and robotics .