Haseeb Qureshi, managing partner at the well-known venture capital firm Dragonfly, recently praised Multicoin managing partner Kyle Samani as the best investor in the cryptocurrency space on Twitter. However, sassal.eth, founder of the Ethereum education-focused YouTube channel Daily Gwei, commented below, accusing Kyle Samani of profiting from lies multiple times and having close ties with SBF of FTX/Alameda.
Dragonfly: Multicoin's investment is an undervalued idea, not consensus.
Kyle Samani is the best investor in the cryptocurrency space." Haseeb Qureshi, managing partner at the well-known venture capital firm Dragonfly, wrote on Twitter, adding, "I say this because his competitors Dragonfly and Multicoin have been at odds. But a game is a game. Investing is a sport, and Kyle is a historical scorer, unmatched by anyone."
"This doesn't mean you have to like him; he is arrogant and even annoying. I have always disagreed with his views: Solana will beat all competitors, Bitcoin is worthless, tokens should always be 100% unlocked, or analogies are pointless." The writer adds: Multicoin was one of Solana's earliest investors, participating from the seed round. Only four institutions participated in the Solana seed round financing in May 2018.
"But Kyle is a true contrarian investor. He bets where others wouldn't." Haseeb Qureshi describes Kyle's investment style, "But sometimes when other venture capitalists have poor vision, Kyle can identify these promising projects. Ultimately, that's why investors exist: to allocate funds to ideas that are undervalued. Kyle is one of the few true non-consensus investors in our industry."
Multicoin is one of the top five co-investors in FTX, accused of participating in high FDV scams.
However, sassal.eth, founder of the Ethereum education-focused YouTube channel The Daily Gwei, commented below: "For years, he has lied countless times just to make a big profit. People dislike him for this, and the money he makes doesn't give him a get-out-of-jail-free card to make everyone excited about his views without being called out."
He also mentioned the more sensitive parts: "He has close ties with SBF, and I can't believe he didn't know what was happening with FTX/Alameda. He was involved in almost every low liquidity/high FDV scam created by SBF. This is not good investing; this is fraud."
According to Rootdata data, Multicoin is one of the top five co-investors in FTX Ventures, with experience in seven co-investments, including Backpack and Aptos.
Accusations of collusion between Kyle and SBF are serious allegations that require clear evidence.
Haseeb Qureshi responded: "I know there are disagreements between you, but I want to state that I disagree with Kyle on almost everything."
"But colluding with SBF is a serious accusation that requires clear evidence. After the FBI, DOJ, SEC, bankruptcy property institutions, and countless journalists searched for all information regarding FTX and prosecuted everyone involved, accusing Multicoin (one of their many investors, even having money in the exchange) seems like a crazy statement." The writer adds: Multicoin is also one of FTX's investors.
Not accusing Kyle of participating in fraud, but suspecting he is an informed person regarding the SBF incident.
sassal.eth clarified: "I am not claiming that Kyle or Multicoin have any connection to the fraudulent activities implemented by SBF and Alameda, as I do not believe they did so."
He added: "But I want to say that Kyle has a very close relationship with SBF, participating in countless transactions (many of which are the low liquidity/high fdv scams I mentioned) and participated in Solana with SBF." He stated that he and some industry insiders have felt that SBF was suspicious since 2020; SBF was never a great actor, showing many warning signs from day one. Therefore, he does not believe that Kyle, who has close interactions with him, is completely unaware.
He believes that Kyle, like many others, turns a blind eye due to greed. He stated that the Terra incident was the same, with many insiders keeping quiet for their own benefit. He speaks out because he doesn't want our industry to repeat the mistakes of the last cycle.
As of press time, there has been no response from Kyle Samani.
Whistleblower mind shares soar! Data reveals the influence of Dragonfly and Multicoin.
Interestingly, sassal.eth's Yap mind shares have jumped to fourth place, while Dragonfly and Multicoin's mind shares are in first and sixth places, respectively.
(Kaito's AI-driven research platform launches the Yap points program, with multiple emerging public chains participating, will it lead the InfoFi trend?)
(What are Yaps? A comprehensive understanding of Kaito Yaps' points program, reigniting confidence in the FriendTech community as a new social battlefield.)
This article Crypto Circle Eight O'Clock: Multicoin co-founder accused of close ties with SBF, has yet to speak out first appeared in Chain News ABMedia.
