According to Bloomberg, Multicoin Capital, which manages about $2.7 billion, plans to remain focused on crypto even as peers including Paradigm, Framework Ventures and Haun Ventures expand into AI. General partner Spencer Applebaum said HYPE is currently the largest position in Multicoin’s hedge fund and was acquired through the public market, though he did not disclose the size of the holding. He added that the firm sees no reason to shift away from crypto simply to follow the AI investment boom.