What Billions in Crypto Fund Raises Tells Us About the State of Markets

The Breakdown

Nathaniel Whittemore

Investing, Business

4.8 • 786 Ratings

🗓️ 15 September 2021

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

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Summary

On this episode of “The Breakdown,” NLW looks at an array of recent fund announcements, including: Dan Tapiero and 10T’s $750 million Pantera raising a $600 million fund Jump Capital announcing a new $350 million fund with more focus on crypto and Jump Trading launching Jump Crypto Mets’ owner Steve Cohen investing in a high-frequency trading firm Bain Capital Ventures launching a dedicated crypto fund What does it say about the state of the crypto markets? Listen to find out. Enjoying this content? SUBSCRIBE to the Podcast Apple: https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW “The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Tidal Wave” by BRASKO. Image credit: Feodora Chiosea/iStock/Getty Images Plus, modified by CoinDesk.

Transcript

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0:00.0	The simple fact is that based on all this capital, there are going to be great big war chests
0:05.5	for whatever comes next.
0:07.4	Whatever combination of development, user acquisition, or importantly, regulatory battles
0:12.0	may be on the horizon.
0:14.1	I think it's safe to say that what venture funding into crypto is showing is that there
0:17.6	is a lot, a lot of capital on the sidelines and trying to get in.
0:22.7	And that's going to shape the months and years to come.
0:26.4	Welcome back to The Breakdown with me, NLW.
0:30.5	It's a daily podcast on macro, Bitcoin, and the Big Picture Power Shifts remaking our world.
0:40.6	The Breakdown is sponsored by Nidig and produced and distributed by CoinDesk. What's going on, guys? It is Tuesday, September 14th, and today
0:47.8	we are talking about what billions in crypto fundraisers tell us about the state of markets.
0:54.7	Before we do that, however, I just want to do a single point on the brief, which is about
0:59.4	inflation.
1:01.1	It was inflation day, and year over year, we're still at 5.3%.
1:06.1	That's down 5.4% in June and July, however.
1:09.9	So in terms of rate of change, the one-month increase
1:12.9	in June was 0.9% and the one-month increase in July was 0.5%. The one-month increase last month in
1:20.4	August was 0.3%. So there seems to be some slowing. Now, there are a couple ways to look at this. The first is that CPI is a bad,
1:30.7	incomplete measure of inflation, and we should ignore it. This is, like I said, the brief, so I'll
1:35.9	leave that take to the side for now. The second is that CPI is slowing down and that the Fed has
1:41.9	been right that this is all transitory inflation.
1:45.5	It almost certainly seems to me like how many pundits will take it.
	...

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