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Pantera Capital
Framework Ventures
Jane Street
Electric Capital
Three Arrows Capital
Coinbase Ventures
GSR
A* Capital
Multicoin Capital
Alameda Research
LedgerPrime
1confirmation
Fenbushi Capital
HashKey Capital
Flow Traders
Paradigm
Variant
Semantic Ventures
Matt Bornstein
Circle Ventures
Galaxy Digital
Jump Crypto
Amber Group
Bankless Ventures
Sequoia Capital
CumberlandMixed
A mixed round, some signals are off the norm.
Syndicate size
Party round (68 investors), diffuse ownership and signal.
Insider conviction
All-new money, no prior investors re-upped.
Investor track record
Mostly newer or unproven managers.
Heuristic read of round size vs peers, syndicate size, insider conviction, and investor track record. Not investment advice.