Multicoin Capital co-founder Kyle Samani recently asserted, "Web3 is over, and all that remains now are DeFi (Decentralized Finance) and DePIN (Decentralized Physical Infrastructure)."

These remarks stemmed from Starknet co-founder Eli Ben-Sasson pointing out that the cryptocurrency industry is currently facing an identity crisis.

Ben-Sasson analyzed that while the so-called 'OGs' who have been in the industry for a long time are leaving, institutional investors and traditional finance (TradFi) have begun to show interest in the cryptocurrency market. He emphasized that this influx of traditional finance is exactly the very entity that cryptocurrency initially sought to resist.