Alex Fine

@fun

[Alex Fine @AlexKFine]

I'm often asked "What are we going to do with $72M"

90% of our spend is on people. Talent density is a startup's only real competitive advantage.

[The Rollup @therollupco]

Most of the KYC friction you experience when buying crypto has nothing to do with compliance.

@AlexKFine says it's poorly built risk models and there are better ways to manage the underlying risk without making the user experience painful.

99%+ of Fun's volume is fiat to stablecoin.

Users go to Lighter or Polymarket and deposit without knowing Fun exists.

The business model is Costco: consolidate all the fragmented payment stacks, compress the vendors, offer rates nobody else can, take margin at scale.

[Polymarket Traders @PolymarketTrade]

Perps beta is now live on https://t.co/5lywVxdwoA for select users. We’ll be rolling access out to more people over the next 4 weeks. Get ready.

[Jake Zeller @jake_zeller]

1/ Applications are now open for Powerset Cohort 4, where top founders get their own $ 1M+ fund for angel investing. Last year, Anton Osika (Lovable) and other elite founders joined Cohort 3. Our founders have deployed $ 20M+ so far and are outperforming top VCs.

[The Rollup @therollupco]

Most of the KYC friction you experience when buying crypto has nothing to do with compliance.

@AlexKFine says it's poorly built risk models and there are better ways to manage the underlying risk without making the user experience painful.

99%+ of Fun's volume is fiat to stablecoin.

Users go to Lighter or Polymarket and deposit without knowing Fun exists.

The business model is Costco: consolidate all the fragmented payment stacks, compress the vendors, offer rates nobody else can, take margin at scale.

[Alex Fine @AlexKFine]

@mxmnci @fun GM – happy to give you a sneak peak

[Cole Kennelly @ColeGotTweets]

The global derivatives and equities exchange landscape is on the verge of a fundamental transformation.

Within a decade, Hyperliquid, Polymarket, and a handful of other onchain-first exchanges could displace the exchange incumbents entirely, becoming the world’s dominant exchanges.

The old guard sees it coming.

BVIV everywhere.

[Alex Fine @AlexKFine]

@pompeythe_great @KyleSamani @mxmnci DM'd 🫡

[Polymarket @Polymarket]

We're excited to announce our exclusive partnership with Nasdaq Private Market.

Retail traders can now get exposure to private companies, one of the historically most profitable asset classes, exclusively through Polymarket.

[Ostium @Ostium]

Live with Nasdaq.

This partnership brings us a step closer to unlocking access to global financial markets. More assets, more liquidity.

[Alex Fine @AlexKFine]

cool

@Nasdaq

[Alex Fine @AlexKFine]

Couldn’t recommend Ullas more. Appreciate the steadfast support

[Ullas Naik @ullastweets]

Congrats to the team at @fun on this major milestone of their $72M Series A. @streamlinedvc and I are thrilled to have been on this journey with you since leading your seed round and also very happy to be a part of this round and your board. Big things ahead for this company!

[Polymarket @Polymarket]

Hyperliquid up or down?

5 minute up/down HYPE polymarkets are now live.

[DC @dcposch]

Make it Spanish and rebuild Sutro Baths

[Alex Fine @AlexKFine]

@dollarr @fun @multicoin @SignalFire i found this funny

[FORTUNE @FortuneMagazine]

On Friday, Fun announced that it has raised $72 million to work with buzzy tech firms like Polymarket to let users deposit and withdraw funds in crypto and fiat, like the U.S. dollar. https://t.co/VlqqMhRZnp

[Alex Fine @AlexKFine]

Some memories along the way

[Alex Fine @AlexKFine]

Today Fun announced a $72M Series A. Since founding Fun has grown to serve millions of users and is now processing tens of billions in volume each year.

We’re still early in this journey, but this is a good milestone to acknowledge the folks who really got us this far.

I’m appreciative for team members like @chloefunxyz, Panda Xu, and Gabby Labi Tordjman who stuck with us through early & hard times.

Grateful for folks like @connormcewen & Jeffrey Caron who have led to the team to where we are today.

A special thank you to @ullastweets – who saved the company in our early days and has been a steadfast supporter on our board.

There were many early supporters I learned from – like @cory & @justinmateen who supported me in getting off the ground.

Obviously, a thank you to the partners who trust us with some of their most important money flows.

Appreciative for the 30+ team members at Fun grinding through nights & weekends to make our business a reality.

Finally, appreciative for the backers who put up the capital for this next round on growth – @SpencerApplebau, Jonathan Lim, @ullastweets, Jeremy Jonker, @aghosn9 and more.

Those who know me well know I’ve always wanted to build a “real” company, and am feeling grateful to be at the starting line.

Fun builds the highest converting money flows for the largest global fintech applications. If you like to solve hard technical problems, believe global capital markets create good, and love to craft beautiful products, I’d love to meet. We’re aggressively hiring in NYC & Singapore.

(photo on 2024 election day)

[Fun @fun]

Today, we announce our $72 million Series A, co-led by @multicoin and @SignalFire.

https://t.co/WPpQYEupip

[Connor McEwen @connormcewen]

Fun announcement - more funding for more Fun

[Alex Fine @AlexKFine]

@SpencerApplebau @multicoin @fun It has been a pleasure working together. Couldn't recommend Spencer & the Multicoin team more