Kyle Samani, co-founder of Multicoin Capital, expressed skepticism about the broader potential of blockchain technology in a now-deleted tweet. Responding to a discussion on the future of the crypto industry, Samani stated that cryptocurrencies are not as intriguing as many enthusiasts believe. He acknowledged blockchain's role as an asset ledger capable of reshaping finance but noted its limited potential in other sectors, with decentralized physical infrastructure networks (DePIN) as a notable exception. Samani also highlighted unresolved issues with on-chain privacy, expressing optimism about Zama's potential solutions. The tweet was quickly removed after posting. Previously, Samani transitioned to an advisory role at Multicoin, focusing on emerging technologies like AI and robotics.