Multicoin Capital co-founder says Web3 is over, leaving only DeFi and DePIN

Multicoin Capital co-founder Kyle Samani said that Web3 is over, with only DeFi (decentralized finance) and DePIN (decentralized physical infrastructure) remaining. His comments follow a statement from Starknet co-founder Eli Ben-Sasson, who said the crypto industry is currently facing an identity crisis. Ben-Sasson pointed out that while longtime industry OGs are leaving, institutional investors and traditional finance (TradFi) are beginning to show interest in crypto—the very trend the industry initially resisted.