Multicoin Capital has sold another 10% of its HYPE position after holding a $90.5 million stake for more than six months, leaving it with just 25% of its peak holdings. Kyle Samani, the firm’s former co-founder and an early Solana investor, cited Arkham monitoring of the transaction in an X post. He described a three-step formula for venture success—buy a large position, discuss it on podcasts and then sell it—adding that he had struggled with the final step. The comment appeared to sarcastically suggest that Multicoin Capital used HYPE to raise market interest before selling, although it did not directly establish that allegation.