20VC Crypto Roundtable: How Will US Elections Impact Crypto? Why Will Trump Lean Into Crypto in 2024? Should FTX Investors Have Known About SBF? Will Opensea Ever Be Worth $13BN Again? Will NFTs Come Back with Kyle Samani and Nick Tomaino

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The Twenty Minute VC

Finance, Venturecapital, Tech News, News, Siliconvalley, Technology, Investing, Startups, Business

4.4 • 637 Ratings

🗓️ 8 January 2024

⏱️ 51 minutes

🔗️ Recording | iTunes | RSS

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Summary

Nick Tomaino is the Founder and General Partner @ 1confirmation, one of the leading seed firms fueling the decentralization of the web and society. The fund started with $26M and the firm now has over $1B in assets under management. Nick is famed for being one of the first investors in OpenSea.

Kyle Samani is the Co-Founder and Managing Partner @ Multicoin Capital, one of the leading crypto native funds of the last decade with positions in Solana, FTX, Fractal, and Helium to name a few.

In Today's Episode We Discuss:

1. Moving Away from a Shitcoin Casino:

What will it take for crypto to move away from being shitcoin casino?
Why does Nick believe that "crypto has been a free for all and greed got the better of people"?
Why does Nick believe that crypto shilling will reduce the amount of violence in the world?

2. FTX: The Biggest Ponzi Scheme in Plain sight:

How does Kyle reflect on SBF and FTX today? Should he have known it was a fraud?
How did Nick see so far ahead of time that SBF was not genuine?
What are the most striking lessons when comparing Coinbase's Superbowl advert to FTX's?

3. Where Politics and Crypto Collide:

SBF was one of the largest donors to Biden, what does this say about the rise of "crony capitalism"?
What candidates running in the election will be best for crypto?
Why will Trump win the election and be the first President to rule from a prison cell?
Why is the strategy pursued by Gensler and the SEC so flawed?

4. The Great NFT Comeback, The Crypto IPO Season:

What will be the next crypto company to IPO? When?
When will NFTs come back? What will cause this?
Will Opensea ever be worth $13BN again? What is their future?

Transcript

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0:00.0	crony capitalism is real, right? I don't think the public recognizes how insane it is.
0:06.0	The second largest donor to Joe Biden was Sam Bankman-Fried. If you think about Trump, we know he loves attention.
0:12.3	He's going to be leaning into crypto in a big way in 24. My assumption is he will be in jail before the election.
0:18.9	There's five candidates right now that would be good for crypto.
0:22.8	Trump, DeSantis, Vivek in the Republican Party, there's Dean Phillips in the Democratic Party,
0:29.1	and there's RFK as an independent.
0:30.9	Welcome back to 20VC with me, Harry Stebbings.
0:33.3	Now, this show was sparked by a Twitter debate between two of the crypto-OG investors,
0:37.4	and I naturally thought there'd be no better venue for the debate than 20VC. Now, this show was sparked by a Twitter debate between two of the CryptoG investors,
0:41.6	and I naturally thought there'd be no better venue for the debate than 20VC. So Crypto OG number one is Kyle Samani, co-founder and managing partner at Multi-Coin Capital,
0:47.7	one of the leading crypto-native funds, famed for positions in both Solana and FTX.
0:52.9	Next up, we have Nick Tamino, founder and general partner
0:55.8	at One Confirmation, fame for being one of the first investors in OpenC. Today, we discuss,
1:01.0	is Trump actually good for crypto and which of the political candidates might be best for the
1:05.9	crypto space? Should investors have really known about SBF and FTX? This and so much more in what was an incredible discussion today.
1:13.6	But before we dive into the show today, Hive is the marketplace for private stock.
1:17.6	Whether you run a fund, lead an investing syndicate or invest solo,
1:21.6	Hive gives you unparalleled access to some of the most exciting companies in the world,
1:26.6	all before they go public.
1:28.3	Think Flexport, Reddit and Airtable, alongside many other companies I've featured on the show.
1:33.3	Secondaries are so much easier with Hive.
1:35.3	Stay on top of the private market, with free access to volumes of real-time market data,
	...

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