Jason Choi
@mrjasonchoi
Co-founder @tangent_xyz | ex: GP @thespartangroup @contrary @wharton
On Hero Trades I've been investing full time in crypto since 2018, and am very fortunate to be in the right place at the right time a few times to get to a point that many investors aim for: trading/investing my own stack full time. Blessed to work with people smarter than me,…
Regardless of what your personal tolerance is for mixers, it’s pretty clear that privacy is a core tenet of the Internet age, not just crypto. We don’t go after those who fund and build VPNs just because a few bad apples use them for illicit means. For years, I have held…
Dragonfly invested into PepperSec, Inc., the developers of Tornado Cash, in August of 2020. We made this investment because we believe in the importance of open-source privacy-preserving technology. Prior to our investment, we obtained an outside legal opinion that confirmed that…
Blog on this soon ish. Been in drafts for 6 months lol
I don't think I've ever seen this big of a dispersion between public and private markets in crypto compared to 2017/2021/2024. Publics are ripping new all-time highs. With the GENIUS Act now law, the macro and regulatory landscape has never been better for crypto. Yet privates…
What people said… When we seeded Ethena 2 years ago: “This is just Luna again” When we seeded liquidity pool: “AI crypto is where it’s at, not DeFi” When we doubled down in growth: “Didn’t we try this on Solana last cycle?” When we 100x’d size in public market: “Tether…
Ethena is set to become the first stablecoin developer whose product has a clear path to full compliance with the U.S. GENIUS Act Through our partnership with @Anchorage, the only federally chartered crypto bank, USDtb will move onshore to become a U.S. federally regulated…
Love posts from @joincolossus that show how good investors across domains operate. The enduring lesson echoes what @naval said (paraphrased): “Finding what you’re best in the world at, and keep narrowing it down until you get there”
Ramtin Naimi started a successful hedge fund at 19, went bankrupt at 24, and then built a $1.8 billion venture firm backed by investing icons like Stanley Druckenmiller, @pmarca, and @BillAckman. Michael Ovitz calls Naimi his “non-biological son.” Founders say he’s “the most…
How is this a thing? This seems extremely broken
Honestly, I'm not that upset about being down $10M on paper from this fund. Money isn't real, till it's in my account. What upsets me greatly is I have a K1 from them in 2024 showing $8M in gains, I owe $3M in tax on. Leaving LPs with huge tax burdens while taking huge carry..
I know it’s customary to clown on Jim you but rarely hear Ethereum mentioned as a US hedge, unlike Bitcoin
JIM CRAMER EYES BITCOIN, ETHEREUM AS HEDGE AGAINST $37 TRILLION US DEBT
How crypto ARR works
me : i made $1000 in crypto today her: “ so you’re making $30K a month? “
Market re-evaluating how much the most used chain for the single largest use case in crypto today should be worth
Under-owned, over-hated, while the biggest use case in crypto is predominantly built on it and broader world is now waking up to this post-Circle + post-Genius. Circle is a risky way to express this given valuation + top line sensitivity to rates. SOL is an over-positioned way…
Crypto is financialized ideology Bitcoin + Ethereum best encapsulate this Most others are just games to be played To further this ideology Or to own more of it
it's incredible that Nietzsche was shilling anti-slop cogsec back in the 19th century
Media biz model be like: 90s - 00s: Keep them scared or make them angry, then you can sell them anything 2010s-: Let them keep each other scared or make each other angry, then you can sell them anything
In crypto parlance, poison pill arrangements are basically infinite mint functions
[ ZOOMER ] ROBERT LESHNER GIVES UP TRYING TO TAKE CONTROL OF NASDAQ LISTED LQR HOUSE AFTER ORIGINAL 56.9% STAKE GETS DILUTED TO 8.7%: FILING
The best time to invest in a company is when it’s most in violation of a popular narrative h/t: @bedrock
Turns out this was capitulation
Almost every week on the timeline I see a variation of “I couldn’t make money trading crypto last 2 years when alts were no longer going up in a straight line therefore it means the industry is dying and you should all quit”
Big boy numbers
[ ZOOMER ] JOSEPH LUBIN'S SBET TO RAISE $5B FOR FURTHER ETHEREUM PURCHASES: FILING