A Spin on Crypto Private Equity

Tempo, the payments-focused blockchain developed by Stripe and crypto venture firm Paradigm, has reportedly raised the a Series A round led by Greenoaks and Josh Kushner’s Thrive Capital. The round values the company at $5 billion. Read more →

Last week we reported that Arthur Hayes’ family office was raising $250M to create the first ever crypto-focused private equity fund. Now, we have some more information on what the team believes to be the problems and solutions…

Problem: Founders of profitable crypto businesses have no clean exits.
Solution: Give founders exits at lower valuations but no multi-year stock lockups

Problem: Incumbents want to acquire crypto firms, but have trouble sourcing/diligencing them
Solution: Use team’s expertise to clean up crypto businesses and put in executives so the companies are acquisition ready.

Problem: While large investors want exposure to crypto, current VC funds are lacking in performance.
Solution: Give large investors access to crypto companies without token risk.

Will it work? Who knows… at least it’s a different direction than most. Read more →

12 days after the FCA lifted its four-year retail ban on crypto exchange-traded notes (ETNs), 21Shares, WisdomTree, Bitwise and Blackrock today listed physically backed BTC/ETH products on the London Stock Exchange. This means average folks, not just professional investors, can now buy crypto through traditional brokerages. 21Shares CEO Russell Barlow stated "this is an important start, but not the finish line — access to Bitcoin and Ethereum is only the first step in building a more comprehensive and innovation-friendly framework for the UK." Read more →

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