Hyperliquid HYPE Tops Multicoin’s Hedge Fund as Firm Rejects AI Pivot

AI Boom Lures Crypto Capital, but $2.7 Billion Firm Holds Out

Multicoin Capital Management is resisting the rush into artificial intelligence that has swept up rival crypto investment firms, betting its expertise in digital assets gives it an edge in finding promising businesses.

Hyperliquid HYPE tops Multicoin’s hedge fund as firm rejects AI pivot

Hyperliquid’s HYPE has become Multicoin Capital’s largest hedge-fund position as the investment firm has reaffirmed its focus on crypto over standalone artificial intelligence investments. Bloomberg reported that Spencer Applebaum, Multicoin’s general partner and co-head of venture investments, identified HYPE as…

Multicoin Capital Rules Out Pure AI Investments, Keeps Crypto Focus

The firm raised a $422 million venture fund in 2022 and has deployed it gradually. It manages $2.7 billion in assets.

Multicoin Capital makes HYPE largest hedge fund holding: Bloomberg

Multicoin Capital's focus on HYPE underscores a strategic bet on crypto's growth potential, potentially influencing broader market confidence.