Latest news with #PanteraCapital
Yahoo
03-06-2025
- Business
- Yahoo
Symbiotic Launches 'Relay' to Bring Secure Staking Across Chains
Symbiotic, a universal staking protocol and EigenLayer rival, has launched Relay, a software development kit (SDK) that allows protocols to stake assets on Ethereum and verify that stake across any blockchain. Staking is a system for securing blockchains in exchange for rewards. In staking systems, so-called validators commit callateral — called "stake" — for a role in processing transactions. "Restaking" protocols like Symbiotic let users reuse stake across multiple blockchains at once, offering investors the opportunity to earn extra yield. Relay is, in essence, a generalized version of Symbiotic's restaking tech — a toolkit that can bring Symbiotic-style restaking to virtually any crypto ecosystem. According to the Symbiotic team, the tech lets developers build verifiable, secure coordination layers for decentralized applications (dApps) across multiple chains. Under the hood, the SDK plugs developers into the Symbiotic network. From there, developers may configure networks to use stake on one blockchain to verify activity on another. 'This makes it easy to build bridges, oracles, rollups, or risk protocols that are secured by real stake and verifiable anywhere their users are, without having to bootstrap a validator set, trust a multisig, or sacrifice decentralization,' the team wrote in a press release. 'For users, this means multichain applications which were previously bespoke designs, fragmented, or complex, can now be easily built with verifiable security from day one.' The rollout of Relay was a central part of Symbiotic's recent $29 million Series A funding round led by Pantera Capital. The round included participation from Coinbase Ventures and a cohort of over 100 angel investors. 'Until now, building a secure multichain protocol meant choosing between trusted relayers or expensive, bespoke infrastructure,' said Algys Ievlev, co-founder of Symbiotic. 'Relay solves that. It gives builders a way to use real stake to verify real outcomes across chains without making tradeoffs on cost, security, or developer experience. We believe this will become the default way protocols coordinate across chains.' Read more: Pantera Leads $29M Funding for EigenLayer Rival Symbiotic to Expand Staking Play Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
29-05-2025
- Business
- Yahoo
Pantera Reveals Its Bets on Stocks That Adopted ‘Digital Asset Treasury' Strategy
Crypto investment firm Pantera Capital revealed a series of concentrated bets on a growing class of publicly-traded companies holding large digital asset reserves on Thursday. Among Pantera's portfolio is Twenty One Capital (CEP), a Bitcoin-focused treasury firm led by Jack Mallers and backed by Tether, Softbank and Cantor Fitzgerald, according to a note by general partner Cosmo Jiang. The firm also disclosed it is an early backer of DeFi Development Corp (DFDV), which applies the model to Solana SOL, and Sharplink Gaming (SBET), the Ethereum ETH treasury play supported by Ethereum software firm ConsenSys, per the note. This investment push signals Pantera's broader belief that traditional financial structures are increasingly viable pathways into digital assets, even as spot-based exchange-traded funds (ETF) and other regulated products expand. These firms —what Pantera calls Digital Asset Treasury companies, or DATs — seek to offer crypto exposure to equity market investors without requiring direct ownership of tokens, a play spearheaded by Michael Saylor's Strategy (MSTR). These stocks unlock crypto access for investors still wary of managing wallets or trading on crypto exchanges, Jiang argued. The companies function as closed-end funds on public markets, potentially limiting supply of the underlying assets — Bitcoin, Solana or Ethereum — and affecting price dynamics over time, he said. The note argued that under the right conditions — market volatility, financial engineering, and smart management — these companies can grow their token-per-share metrics faster than the tokens themselves appreciate, potentially offering more upside than direct crypto purchases. However, as the market is getting increasingly saturated with these offerings, a few analysts raised concerns about the long-term upside of these stocks: MSTR, for example, underperformed while bitcoin rose to fresh record highs this month, 10x Research in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
28-05-2025
- Business
- Yahoo
Bitcoin Platform Mezo Debuts Mainnet to Build Circular BTC Economy
Blockchain venture studio Thesis, which is backed by Pantera Capital and Hack VC, has debuted its Bitcoin layer-2 network Mezo's mainnet. Mezo is built to be Bitcoin finance platform that enables its users to unlock practical utility in BTC and thus become their own bank, according to an emailed announcement shared with CoinDesk. The project debuted its testnet last year following a $21 million fundraising round led by Pantera. Users can use their BTC as collateral to mint and spend Mezo's native stablecoin MUSD, this creating a circular economy powered by BTC. An ongoing barrier to wider bitcoin adoption is the reticence users have to sell or spend it, which may be out of concern for losing value tied up in their holdings. This, amongst many other reasons, can explain why bitcoin has yet to fully prove itself as a form of money beyond being a store of value. "Holders haven't had many options to actually use their bitcoin without giving it up," CEO of Thesis, Matt Luongo, said. "With [Mezo}, I can park my BTC, access a credit line and live my life. This is what being your own bank was always meant to look like. It finally lets HODLers have their cake and eat it too." Mezo has teamed up with numerous crypto platforms that provide use cases such as e-commerce store Bitrefill, which offers gifts cards for MUSD, and BTC finance app Fold (FLD), which offers a cashback debit card and provides bitcoin rewards.
CNBC
22-05-2025
- Business
- CNBC
Pantera Capital CEO expects 'wave' of crypto companies to go public in next 6 months
Dan Morehead, founder and CEO of crypto hedge fund and venture capital firm Pantera Capital, sits down with CNBC's MacKenzie Sigalos at the crypto conference Consensus 2025.
Yahoo
14-05-2025
- Business
- Yahoo
Pantera's Dan Morehead Sees Decades of Bitcoin Upside Ahead
Bitcoin's (BTC) long-term potential remains largely untapped, according to Dan Morehead, founder and CEO of Pantera Capital, who took the Mainstage at Consensus 2025 in Toronto on Wednesday. 'There are a couple more decades to go of outsized returns in bitcoin,' Morehead told the audience, underscoring Pantera's ongoing conviction in the asset class. Morehead offered a rare look into Pantera's performance metrics, noting that the firm has turned a profit on 86% of its portfolio companies. Pantera has also invested in 22 startups that have gone on to achieve 'unicorn' status with valuations exceeding $1 billion. To capture opportunities in a fast-evolving landscape, Morehead recommended investors adopt a broad-based approach. 'We advise investing in a wide spectrum of tokens and venture equity,' he said. On the same panel at Consensus, Dan Tapiero, founder and CEO of 10T and 1RT, shared a sobering view on deal flow and valuations. 'In this space, founders think they should be raising capital at 50 to 70 times revenue,' Tapiero said, calling the expectations 'unrealistic.' Tapiero said his firm passed on approximately 200 investment opportunities in recent years, including some companies they genuinely liked. 'We automatically passed on a lot of these deals because the price was just too high,' he noted. Among those they declined? FTX, Celsius, and BlockFi, all three of which later collapsed amid scandals and market turmoil. Morehead also addressed the increasingly international nature of crypto activity. 'Ninety percent of crypto trading and protocols are based outside the U.S.—which isn't right,' he said. He blamed regulatory inertia for the exodus but expressed optimism that change is underway. 'The election win was a huge unlock,' Morehead said, referring to recent U.S. political shifts. 'We're coming back to what should have been, the last 6 to 8 years was a weird anomaly.' He hopes the coming years will see capital and innovation flow back into the U.S. crypto Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Sign in to access your portfolio
