great analysis by @dunleavy89
early 2020 vintage has been tough not just for crypto VC but overa...
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Note: AI-generated summary based on third-party content. Not financial advice. Read more.
Quick Insights
- The author prefers being long legacy companies adopting crypto over crypto-native ones, with exceptions for exchanges, Tether, and Circle.
- Hyperliquid is noted as a winner for exporting digital dollars to the rest of the world and providing access to U.S. capital markets.
- Value capture in the on-chain economy is viewed as weak due to a stagnant user base of under 100 million active users.
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About Santiago R Santos