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David Pakman (dpakman.eth)
@pakman
I am a crypto venture investor @coinfund. Inspired by ambitious entrepreneurs who build the future. (Not investment advice, these are my personal opinions.)
NYC
Joined June 2008
1.7K Following
202K Followers
11.6K Posts
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Agents will do most of consumer spending very soon. If you’re building what these agents will run on, we at @Coinfund want to hear about it.
https://t.co/F9ZR4ZQH6p
https://t.co/6hqTEcFGY3
If you’re a trader in India and you want exposure to Nvidia’s upside tonight, how do you do it? You can use a US-focused brokerage app, make an international bank transfer (that can take several days and a stack of paperwork) and then buy some NVIDIA stock. If you’re a more active trader, though, and looking to move more quickly, the trade has come and gone by then. Or - you complete your KYC, connect a bank account over India’s UPI, fund your account in rupees within a few minutes, and then buy perpetual futures that trade 24/7.
That is what @Mochatradeapp is building. I am glad to see more fintechs on modern rails giving people outside the US a much easier way into our markets. Mochatrade has now raised $5.5M, with our team at @CoinFund leading this latest round. Congrats @ichooserain @theblackmand and @_ParthVader_, glad to back you!
https://t.co/8PGcKxNfmR
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Moving stocks off slow, expensive, decades-old trading infrastructure and onto transparent, low-cost rails shouldn’t be controversial
I understand companies wanting to know who their shareholders are. But tokenization allows that, automatically identifying all wallets who hold their stock
The idea that somehow tokenized stocks will "confuse" investors or lead to less liquidity seem like red herrings to me
THE BLOCK: Nine companies, including CoreWeave, Broadcom, Verizon and UnitedHealth, have objected to tokenized versions of their shares trading on OKXICE, the OKX-ICE joint venture.
Nasdaq also says it will opt out of having its own shares tokenized under the SEC framework.
I am excited to share this deeper conversation I had with Founder/CEO of @jeeves_inc , @thazhmon. Building global modern enterprise banking atop stablecoins and crypto rails creates a potent competitive vector for FinTech.
Head of Venture Investing and Managing Partner @pakman discusses how @jeeves_inc fundamentally changes the finance landscape for businesses over the next decade with Jeeves Founder and CEO @thazhmon 🎙️
We led Jeeves' $110M Series C1 financing. Read more about our thesis ↓ https://t.co/XGdlbZfXnx
Woot! CLARITY act not passing means we can all earn yield on idle stablecoin balances! This is a huge win for stablecoin users and terrible for banks. https://t.co/YvqDxYUEs2
I’ll be speaking at Legends4Legends on 1 October in Amsterdam, alongside investors, founders and institutional leaders working at the forefront of these developments.
What makes this event different is the format: no sponsors, a carefully selected speaker lineup and room for candid discussion with peers and specialists.
If you’re an institutional allocator looking to deepen your understanding of the future of finance and fintech, I’d encourage you to join us. Hope to see you there!
If we want to permanently bring back finance innovators to the US, Clarity needs to pass.
The US needs to be the first place entrepreneurs want to build, especially when it comes to the future of finance. We have a lot to gain by making this the law of the land.
JUST IN: 🗨️ "The Clarity Act... will be voted on in the Senate on the 15th of September," says SEC Chair Paul Atkins.
"I anticipate and hope that it will be passed by the Senate and sent ultimately to the president's desk for signature," adds Atkins. 💬
Crypto has spent a decade betting that mass adoption would come from the world's unbanked. That may still happen
But there is another possibility: the next billion users aren't people at all. They're software
AI agents are starting to transact on our behalf, and this is one area where I think crypto has a strong advantage
Agents need payment systems that are programmable, global, available 24/7 and cheap enough to handle transactions worth cents or fractions of a cent - very much what stablecoins are built to do
The gap left to close is onboarding
Wallet setup for agents is still, by every account, a mess. There are also issues around permissions, identity, fraud and refunds that need to be solved. Whomever solves that first could win this market, and I’ll be watching very closely for the companies building that layer
Hey, we made it on a list!
Congrats to our portfolio company @dakota_xyz and @ryanbozarth on filing for a national trust bank charter with the OCC
Most stablecoin payments companies and fintechs rent a bank's charter and inherit its limits
Dakota is building a crypto native stack, custody, issuance, compliance as code, on top of a chartered banking layer instead of bolted onto one. That's a different moat
As VCs in crypto, this is the environment we like to see for our portfolio: strong adoption growth, high demand for crypto products from partners with large budgets and distribution.
Tokenization has been crypto’s favorite buzzword for years, but like much of the industry’s jargon, it remains esoteric to many people. In today’s cover story, I tried to unpack the basics and take stock of where the market actually stands:
https://t.co/EY4I6Qvkji
Excellent read from @nikasgari on the growing role of blockchain in capital markets
https://t.co/o6eFGGUhxi
Financial products compete with other financial products, not with technology
If blockchain enables a better money market fund, a better repo market, or a better settlement system, adoption becomes inevitable - and that's exactly what's happening
Better products win, that's the thesis
Robinhood has done a good job of understanding who its customers are
It moved into crypto early because that's where a younger generation of investors wanted exposure. Now it's making the same bet on prediction markets, and so far it looks like it's paying off
Robinhood's prediction market revenue has surpassed crypto revenue for the first time.
Event-contract revenue rose 10 times to $156m in 2Q, while crypto revenue fell 38% to $100m https://t.co/Fm0wIYZMPm
@TrustlessState It's absolutely @sunandr_ at @veda_labs! So balanced, thoughtful and credible, since Veda is one of the leading vault providers.
All investments carry risk (ask anyone who bought SpaceX on IPO day). But if perps are exploding, it's not just because retail wants to gamble, but also because hedge funds and institutions want the 24/7 market access that onchain trading gives them
https://t.co/0m88z9Ctga
US day traders flock to ‘the most dangerous product in crypto’ https://t.co/EFDPjYg9yL
I appeared on @TheBlockCo to talk about:
- how stablecoins make money productive
- why prediction markets are a rational response to today's economy
- why AI agents need blockchains, not credit cards
And why all financial assets eventually will move onchain
Appreciate the discussion @gazza_jenks
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