According to CoinMeta, Multicoin Capital general partner Spencer Applebaum stated that the company will not expand its investment scope to pure AI projects and will continue to focus on the crypto sector as its core strength. The $422 million venture capital fund raised by Multicoin Capital in 2022 was deployed more slowly due to the decline in valuations of startup projects after the FTX collapse. Currently, Hype remains the largest holding of Multicoin Capital's hedge fund, with an asset management scale of $2.7 billion.