Connect with us
DAPA Banner

Crypto World

Kyle Samani steps away from Multicoin Capital

Published

on

Kyle Samani steps away from Multicoin Capital

Kyle Samani, co-founder of crypto investment firm Multicoin Capital, is stepping down from his role as managing director, he announced Wednesday in a post on X.

“It’s a bittersweet moment for me because my time at Multicoin has been some of the most meaningful and rewarding of my life,” Samani wrote. “After nearly a decade in crypto, I’m more confident than ever that crypto is going to fundamentally rewire the circuitry of finance.”

Samani said he’s taking time off and “exploring other areas of technology,” but made clear he’s not walking away from crypto entirely. “While I’ll be stepping away professionally from the industry, I will continue to make personal investments in the space,” he wrote.

He also pointed to the potential impact of U.S. crypto legislation in development, particularly the Clarity Act, a bill designed to provide legal definitions for crypto assets. “I believe the Clarity Act will unlock a tidal wave of new entrants and spur adoption unlike anything we’ve seen,” he wrote.

Advertisement

Samani did not say what his next role would be or when he might return to the industry. As of now, Multicoin has not named a replacement. Co-managing partners Tushar Jain and Brian Smith are currently running the firm’s day-to-day operations.

Founded in 2017, Multicoin quickly gained visibility for backing projects like Solana and before they became widely known. It operates across both venture capital and liquid token markets, setting it apart from traditional VC firms.

Samani says he will remain as chairman at Solana treasury company Forward Industries (FWDI) and is requesting in-kind redemption in FWDI shares and warrants from the Multicoin Master Fund, rather than cash.

Source link

Advertisement
Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Crypto World

Zcash and MemeCore Soar by Double Digits, Bitcoin Touched $76K: Market Watch

Published

on

BTCUSD Chart March 17. Source: TradingView


In contrast, Pi Network’s native token continues to bleed out, dipping below $0.18 earlier today.

Bitcoin’s price resurgence that started shortly after the beginning of the war in the Middle East reached a new local peak earlier this morning at $76,000, where the asset faced some resistance.

Many altcoins have produced even more impressive gains, with ETH climbing above $2,300, and XRP touching $1.60. ZEC and M, alongside SIREN, FET, and HAS, have even soared by double digits.

Advertisement

BTC Tapped $76K

After dipping to $65,600 last Monday, the bitcoin bulls took command of the overall market performance and pushed the asset toward $70,000 by Wednesday. Although it was stopped there at first after the US CPI numbers came out, the cryptocurrency was more persistent and broke above that level on Friday when it even jumped to a ten-day peak of $74,000.

It was stopped there and driven to just over $70,000 during the weekend as the latest developments on the US/Israel vs Iran front unfolded. Nevertheless, they went on the offensive once again as the business week began. In the span of less than 24 hours, the bulls initiated another major rally, driving bitcoin to $76,000 earlier this morning.

This became its highest price tag since early February. After gaining over $5,000 in a day, though, the asset was primed for a correction that pushed it to $74,000 as of press time. Its market cap is close to $1.480 trillion on CG, while its dominance over the alts continues to struggle below 57%.

BTCUSD Chart March 17. Source: TradingView
BTCUSD Chart March 17. Source: TradingView

ZEC, M on the Rise

Ethereum was stopped at $2,400 this morning, but still trades above $2,300 after a 2% daily increase. XRP sits at $1.50 after a similar pump, and it has surpassed BNB in terms of market cap. HYPE has reclaimed the $40 level after a 3.5% rise, while CC is above $0.15.

ZEC and M have stolen the show from the larger-cap alts, both surging by around 16% to $270 and $1.72, respectively. SIREN, FET, and HASH are up by double-digits as well from the lower caps.

Advertisement

Pi Network’s PI has dumped again in the past 24 hours, losing 10% of value in a drop to $0.18 as of press time.

The total crypto market cap, though, has added $30 billion and is slightly above $2.6 trillion on CG.

Cryptocurrency Market Overview March 17. Source: QuantifyCrypto
Cryptocurrency Market Overview March 17. Source: QuantifyCrypto

 

SPECIAL OFFER (Exclusive)

Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Advertisement

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Source link

Continue Reading

Crypto World

Bitcoin Coils Below Six-Week Highs as Gold Stays Vulnerable at $5,000

Published

on

Bitcoin Coils Below Six-Week Highs as Gold Stays Vulnerable at $5,000

Bitcoin consolidated recent gains in the face of blanket skepticism over its rebound, while gold threatened to give up $5,000 support.

Bitcoin (BTC) circled $74,000 after Tuesday’s Wall Street open as skepticism increased over BTC price strength.

Key points:

Advertisement
  • Bitcoin stalls after a trip to $76,000, with short-term targets including a retreat to $68,000.

  • Traders stand by the long-term bear market thesis for BTC/USD.

  • Gold continues to show weakness, risking the loss of $5,000 per ounce support.

Trader warns against “hyping up” BTC price move

Data from TradingView showed cooling BTC price volatility after a run to new six-week highs of $76,000 to start the daily candle.

BTC/USD one-hour chart. Source: Cointelegraph/TradingView

This proved unsustainable as heavy resistance sent BTC/USD lower, leading to concerns of a fakeout for Telegram channel Technical Crypto Analyst.

“Bitcoin is trending upward inside a rising channel and approaching the $74K–$79K resistance zone; while structure remains bullish above the trendline, a rejection from current levels could trigger a pullback toward the $68K support area,” it wrote on the day.

BTC/USDT perpetual contract four-hour chart. Source: Technical Crypto Analyst on Telegram

Traders stayed wary, doubling down on existing doubts about the fate of Bitcoin’s relief rally.

“Still nothing on HTF that suggests the bear market has bottomed. No divs, no volume at lows, no reversal pattern, etc,” trader Roman wrote in his latest analysis on X, referring to higher time frames.

Roman argued that market participants were “hyping up” a comparatively modest uptick in price, and that history demanded a longer bear market.

Advertisement
BTC/USDT one-week chart. Source: Roman/X

On the latter point, trader Jelle agreed, pointing to the 0.618 Fibonacci retracement level as a key price point.

“Every bear market has been shallower than the one before it – but all of them have happened well below the 0.618 retracement, after months of boring sideways PA,” he told X followers. 

“Even if we don’t get the usual drawdown, I’m pretty sure the boredom chop is coming. Patience.”

BTC/USD chart with Fibonacci retracement level. Source: Jelle/X

Analyst eyes Bitcoin “outperformance” versus gold

Macro conditions were cooler compared to the start of the week. US stocks continued a modest rebound, while WTI crude oil remained below the $100 per barrel mark.

Related: Bitcoin sparks ‘bull trap’ warning after BTC price rejects at $76K

Gold, however, teased a breakdown from $5,000 support, retesting that level for the third consecutive day.

XAU/USD four-hour chart. Source: Cointelegraph/TradingView

Calls for Bitcoin to steal the spotlight from the precious metal thus grew louder.

“Stand by for the outperformance of the decade,” crypto analyst James Easton commented on the weekly BTC/XAU chart.

Advertisement
BTC/XAU one-week chart. Source: James Easton/X