Multicoin Capital does not plan to invest in AI startups outside its crypto mandate, general partner Spencer Applebaum told Bloomberg in a report published Oct. 19, 2026. The $2.7 billion firm is deploying capital from its 2022 venture fund more slowly, but does not plan to move beyond digital assets.
Multicoin’s largest hedge fund position is HYPE, a token linked to the decentralized derivatives exchange Hyperliquid. Applebaum did not disclose the size of the position.
