Chainfir Capital

Web3 VC · RWA · AI Agents · DePIN · DeFi · Stablecoins · Payments · Layer2 · Trading · Infra · Gaming · DeSoc
Capital · Talent · Global operator network

[Chainfir Capital @ChainfirCapital]

@ChainfirCapital is proud to anchor a $500,000 strategic co-investment in the @DigiMaaya ecosystem, alongside leading institutional partners.
Led by @Utsav_DAR , CEO of @DigiMaaya and an OG in the blockchain space, DigiMaaya is building compliant Web3 financial infrastructure to bridge TradFi and digital assets.
This partnership reflects our conviction in scalable, utility-driven ecosystems that can power the next phase of institutional Web3 adoption.

#DigiMaaya #ChainfirCapital #Web3 #DigitalAssets #EMYA

[Chainfir Capital @ChainfirCapital]

Since 2017, crypto earned $47B on-chain. Hackers took $26.9B - 57 cents per dollar.

One breach, $6.36B, tops the industry's entire 2026 revenue. Security isn't a feature; it is the largest cost line. We underwrite it that way.

https://t.co/MEpBrUuOF5
#Security #Onchain #Revenue

[Chainfir Capital @ChainfirCapital]

Alta raised $47.5M to build a chain for banks: 25 people, Index and GV in, Airwallex's CEO as co-founder.

The spec wasn't speed. It was a compliance checklist. $4 trillion sits in prefunded accounts - the first product sells that float back.

#WorkingCapital

[Chainfir Capital @ChainfirCapital]

Pendle grew 43% last quarter. Quarterly revenue: about $2M.

TVL is other people's money parked on your protocol. Revenue is what the business earns. One makes headlines, the other pays salaries - we only invest in the second.

#DeFi

[Chainfir Capital @ChainfirCapital]

Stripe's payment chain just made its first investment: $25M into Commonware - 7 staff, profitable, 4 clients paying $1M+ a year each.

The money followed a P&L, not a pitch deck. Profitability used to be the exit plan; now it is the entry ticket.

#Profitability #VentureCapital

[Chainfir Capital @ChainfirCapital]

We've invested in https://t.co/rKx9adx5F1 — executive search for US-listed CFO and C-level roles.

Our bar: real revenue, a clear growth lever. Beyond capital: APAC market access, C-level talent, regulatory support.

https://t.co/BVsqdg7uX7

#Hiring #CFO

[Chainfir Capital @ChainfirCapital]

67 issuers just blocked OKX-ICE from listing their shares: all of the Magnificent Seven, 90% of its 62.

Rails were never the moat; consent is. Issuers earn nothing from it and carry the proxy risk.

The scarce side sets the price. Today, that is the issuer.

#TokenizedStocks

[Chainfir Capital @ChainfirCapital]

Uranium trades by phone and email; settlement takes weeks, tickets ~$7M.

Uranium Digital raised $16.5M to put it on an order book - no token.

Real adoption looks like plumbing: weeks to seconds, a toll on every trade.

https://t.co/MEpBrUuOF5

#Uranium #RWA #Settlement

[Chainfir Capital @ChainfirCapital]

Soter's Series B cap table: Standard Chartered, SBI, Galaxy, Coinbase Ventures, Franklin Templeton, Brevan Howard.

Insurance capacity is the scarce input for institutional crypto. Premiums renew yearly - recurring revenue the market hasn't priced in yet.

#DigitalAssets #Insurance

[Chainfir Capital @ChainfirCapital]

Circle's Q3 beat came from a one-time $222M ARC token sale to a16z, BlackRock, Apollo and ICE - papering over a dip in reserve income.

A listed crypto company now pads quarters with token sales. Underwrite the repeatable part; the market eventually will.

[Chainfir Capital @ChainfirCapital]

The oldest business in finance is selling numbers. FTSE Russell just put its flagship indexes on 60+ chains via Chainlink, reaching 2,000 apps.

No token, no points - a subscription. Blockchains didn't disrupt the data business; they became its newest sales channel.

[Chainfir Capital @ChainfirCapital]

Hyperliquid did ~$1B in fees in twelve months and raised nothing from VCs. Fragment cleared $350M net without ever issuing a token.

The strongest crypto businesses needed neither. Capital was never the scarce input - customers were.

#Bootstrapped #FeeRevenue #Founders

[Chainfir Capital @ChainfirCapital]

Uniswap turned its fee plumbing into a product: apps paid in random tokens now get the one asset they want. $15.3M converted last month, 7 chains, Robinhood is a customer.
Internal tools, productized - the cheapest second revenue curve. #Uniswap #Infrastructure

[Chainfir Capital @ChainfirCapital]

We've invested in https://t.co/RsZbdBXLVG — AI and Web3 development with published pricing across 40+ verticals.

Our bar: real revenue, a clear growth lever. Beyond capital: APAC market access, C-level talent, regulatory support.

https://t.co/9ldaV67umB

#Web3 #AI

[Chainfir Capital @ChainfirCapital]

We've invested in https://t.co/M6Qexdq0I9 — a talent platform connecting proven Web3 executives with high-growth projects.

Our bar: real revenue, a clear growth lever. Beyond capital: APAC market access, C-level talent, regulatory support.

https://t.co/M6Qexdq0I9

#Web3 #Hiring

[Chainfir Capital @ChainfirCapital]

An Ethereum block builder made $22.83M in 24 hours - briefly the top protocol by revenue, ahead of Tether.
Seven-day total: $16.01M. Tether: $120.59M.
One day out-earned its own week. A spike is not a business - repeatable revenue is.
https://t.co/MEpBrUuOF5
#MEV #Ethereum

[Chainfir Capital @ChainfirCapital]

Predicate raised an $8M Series A to put compliance rules inside the smart contract - $1B screened, 6M transactions checked, 100,000 blocked.

Compliance stops being overhead the moment someone meters it.

#Compliance

[Chainfir Capital @ChainfirCapital]

Blockchain revenue fell 28% to ~$100B this year. Public companies doubled their share - 7% to 16.

The pie shrank; it also concentrated - in hands that file audited P&L. Drawdowns reassign revenue to whoever invoices.

#Revenue #Fundamentals #Onchain

[Chainfir Capital @ChainfirCapital]

Ripple expects to exit 2026 at a $900M annualized product-revenue run rate. Multi-product customers tripled; RLUSD is at $2.6B.

Meanwhile XRP is down almost 30% this year. The token was never the business. The P&L always was. #Institutional

[Chainfir Capital @ChainfirCapital]

A national bank disclosed its crypto numbers for the first time: 503,070 products, $161.6M in gross transaction revenue.

It kept $1.6M.

Volume is not revenue. The take rate is the business - and at about 1%, this is distribution, not a P&L.

#Earnings #Banking

[Chainfir Capital @ChainfirCapital]

A stablecoin card issuer is heading to a US IPO: 9M customers, $180M annualized revenue, operating margin above 50%.

Nobody underwrites a listing on its token. The margin did.

https://t.co/MEpBrUuOF5

#Stablecoins #Payments #IPO