pantera

According to Fortune, the tokenized fund liquidity platform Fission announced the completion of a $10 million Series A financing round, led by Pantera Capital, with participation from Circle Ventures, Borderless Capital, and Ari Rubenstein. This round of financing was completed in September, and the company did not disclose its valuation.Fission aims to solve the problem of tokenized fund shares being difficult to quickly liquidate. The platform acts as a buyer, allowing investors to sell their shares without having to wait for the fund to process redemptions. Users connect their digital wallets and submit sale requests, while Fission handles the backend legal and transaction processes. CEO Jonathan Shaffer stated that for products that typically take about 200 days to sell, investors can pay a fee to sell immediately and complete settlement in 90 seconds or less.Fission was founded in 2024, and the founding team includes former employees of Point72 and Securitize. Currently, the clients are mainly institutional investors and organizations holding on-chain assets, including hedge funds holding tokenized private credit or equity assets, crypto institutions managing treasury, and stablecoin issuers allocating reserves to interest-bearing tokenized investment products.

The co-founder and CEO of the decentralized perpetual contract trading platform Hyperliquid, Jeff Yan, stated during a fireside chat at the Token2049 conference in Singapore that traditional wealth creation opportunities on Wall Street, such as company stocks, are essentially inaccessible to the investing public before they are listed on exchanges, causing retail investors to miss out on the most significant price increases prior to listing. He noted that certain assets are tradable by only a few people during most of their growth phases, and by the time the public can trade them, the growth has already been captured by a privileged few, making this wealth creation model unsustainable.Yan stated that Hyperliquid's main mission is to expand the accessibility of wealth creation opportunities and encourage more people to participate in the financial system, with income being merely a byproduct. He mentioned that Hyperliquid's success partly stems from its perpetual contracts having no expiration date, which reduces the number of decisions traders need to make and prevents liquidity fragmentation. According to data from DefiLlama, Hyperliquid generated $72 million in revenue over the past 30 days, ranking third among protocols in terms of revenue.Blockchain asset management company Pantera stated in July that perpetual contracts, due to their structural advantages, could become one of the dominant trading tools in the global financial sector, and Hyperliquid has demonstrated the potential of blockchain infrastructure to challenge traditional markets. Jeffrey Sprecher, CEO of the Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, called on regulators to create a fair competitive environment for the launch of 24/7 on-chain perpetual contracts. In March of this year, the New York Stock Exchange partnered with the tokenization platform Securitize to advance blockchain-based stock trading infrastructure.

Pantera Capital released the latest "Tokenization Status" report, stating that the tokenization market size it tracked reached 332 billion dollars, covering 671 assets.The report pointed out that JPMorgan, HSBC, and Fidelity launched on-chain products this quarter; BlackRock's BUIDL fund saw on-chain transfers reach 441 million dollars in June, and it has a redemption arrangement of 1 billion dollars per day, which is currently accepted as collateral.In addition, Robinhood Chain's weekly trading volume of real-world assets (RWA) reached 888 million dollars in August.

Recently, discussions surrounding the shutdown of projects invested by a16z have intensified. According to RootData's investment and financing data, after deduplication by project, five institutions—Coinbase Ventures, YZi Labs, Pantera Capital, a16z, and Paradigm—cover a total of 993 independent invested projects, of which 216 are marked as shut down, accounting for a cumulative ratio of 21.75%.Looking at the institutions individually, Pantera has a shutdown rate of 24.76% (51/206), Coinbase Ventures at 22.69% (98/432), a16z at 20.09% (43/214), Paradigm at 19.49% (23/118), and YZi Labs at 13.56% (32/236).Although a16z is at the center of public opinion, it is not the institution with the highest shutdown rate in the sample. Among its 148 lead investment projects, 29 are marked as shut down, accounting for 19.59%, including Linera, which recently announced its closure, and Universal, which has announced its entry into the shutdown process, indicating that even leading institutions cannot eliminate operational risks for projects.

PonyGo, a global one-stop Web3 financial ecosystem aggregation service provider, announced that it has received strategic investment from Pantera Capital. According to the introduction, this investment will be used to support the in-depth layout of multi-track applications in the crypto ecosystem and to build four core business matrices: AI gun pool asset management, RWA independent station service providers, Meme aggregation launch pads, crypto travel OTA, ecological liquidity, community networks, and long-term development in global market construction.The two parties will engage in deep collaboration in areas such as AI, Web3.0, RWA independent stations, and crypto travel OTA, jointly promoting the comprehensive and real implementation of financial ecosystem aggregation, and building a stable, trustworthy, and sustainable global Web3 ecosystem.

Pantera Capital Junior Partner Jay Yu published an article titled "The Rise of Compute Markets," stating that computing power and data center spending have become a trillion-dollar category, but GPU procurement is still mainly done through group chats, over-the-counter brokers, and bilateral agreements. He noted that the financialization of computing power is still in its early stages, constrained by SKU, time, and location, but could become a commodity asset similar to electricity or oil in the next 5 to 10 years. Jay Yu believes that the computing power market may form a "hardware-supplier-cluster" structure similar to the electricity "grid-operator-node," with new cloud vendors being structural shorts on GPUs, while on-demand platforms and application layers are longs.He mentioned that for every $100 spent on inference at the application layer, about $45 flows to the on-demand layer, about $50 flows to the new cloud or GPU layer, and about $5 flows to routing layers like OpenRouter. NVIDIA can be seen as the "central bank" of computing power, having announced support for up to 25% residual value. He also stated that physical delivery has a more enduring moat, and indices, cash-settled exchanges, and financing tools will subsequently emerge, with participants including SF Compute, Vast AI, Runpod, Compute Exchange, and others. The computing power market does not have mandatory price transparency requirements, and basis risk may be greater.

According to Bloomberg, the new regulations on cryptocurrency asset financing proposed by the U.S. Securities and Exchange Commission (SEC) this month aim to restart the ICO financing model. The proposal allows startups to raise up to $5 million within four years and large projects to raise up to $75 million annually without full SEC registration.However, the market environment has fundamentally changed: in January 2018, ICO financing reached $3 billion, but now VC token trading volumes have significantly declined, and speculative funds have shifted to perpetual contracts, prediction markets, and AI stocks. Dragonfly partner Tom Schmidt stated, "Having something is better than having nothing, but it would have been more useful if launched a few years ago." Pantera Capital partner Cosmo Jiang pointed out, "Previously, meme coins that were legal but had actual value were illegal, which is completely contrary to the way capitalism operates." Analysts believe, "The ICO of 2026 is not the ICO of 2018; the era when white papers and dreams could attract capital has ended."

Pantera Capital stated that Bitcoin has been in a narrow range for the past six months, and after a consolidation ends, the market often experiences significant and large fluctuations. Current market positions are reversing, with investors shifting from a wait-and-see or even net short stance to an increasingly strong willingness to go long. Bitcoin has broken through the 200-day moving average at $69,000, attracting momentum and trend-following funds to enter the market.From a long-term perspective, digital asset prices are still discounted by about 50% compared to previous highs, but the fundamentals continue to strengthen, including stablecoin adoption, prediction markets, perpetual contracts, and agency-based commerce. When the fundamentals improve while prices remain discounted, the logic of maintaining a constructive position becomes clearer.

According to a post by the cryptocurrency venture capital fund Pantera Capital, Hyperliquid's potential addressable market size is approximately $100 trillion in nominal daily trading volume, which includes about $200 billion in 0DTE options and leveraged ETF trading, around $2 trillion in commodity derivatives trading, and approximately $8 trillion in foreign exchange derivatives trading, which is currently almost entirely off-chain.Pantera stated that if Hyperliquid can consistently capture a low single-digit share of the aforementioned comprehensive trading volume, its revenue potential could reach up to five times the current level. It is estimated that if the HIP-3 market is calculated at an annualized nominal trading volume of $36.5 trillion and captures a 1% market share, under the assumption of a 2 basis points comprehensive fee rate and a 50% Hyperliquid economic split, Hyperliquid could generate approximately $3.7 billion in revenue.However, Pantera also pointed out that regulation is the biggest risk facing Hyperliquid. Perpetual contracts are not yet fully open in the United States, and if the U.S. pushes for the legalization of related products and launches regulated platforms in the future, Hyperliquid may face more intense competition, and some U.S. user trading volume may also shift to compliant venues. Pantera also believes that Hyperliquid may eventually launch a regulated version for the U.S. market, similar to other platforms.

The AI infrastructure project Orthogonal announced the completion of a $4.3 million financing round, led by Pantera Capital, with participation from Y Combinator, Pioneer Fund, Decasonic, and other institutions.

According to PR Newswire, the AI Agent infrastructure project Orthogonal announced the completion of a $4.3 million seed round financing, led by Pantera Capital, with participation from Y Combinator, Pioneer Fund, Decasonic, Blast, Outbound, Surreal, and others.Orthogonal positions itself as the underlying infrastructure for internet discovery, orchestration, and payment aimed at AI agents, providing a full suite of capabilities for service retrieval, cross-tool task automation, and on-chain instant payments.It is reported that the funds raised in this round will be used for core platform iterative development, expanding the engineering and marketing teams, continuously increasing the scale of platform developers, and improving the interconnectivity ecosystem for AI agents.

According to The Block, the on-chain trading platform TurboFlow, which provides prediction markets and perpetual contracts, has completed a $6 million seed round of financing, led by Pantera Capital, with participation from Susquehanna Crypto and Digital Currency Group.This round of financing was completed in March and is structured as a Simple Agreement for Future Equity with token warrants. TurboFlow is headquartered in Hong Kong and aims to become the "Kalshi of the Asia-Pacific region." TurboFlow intends to fill the gap of prediction markets in Asia through localization and regional presence. The platform has been operating a beta version for over six months, with more than 15,000 registered users and a cumulative trading volume exceeding $19 billion. TurboFlow currently has over 30 employees, with the core team based in Hong Kong, and plans to maintain a lean operation. In terms of regulation, founder Tony He stated that the company is actively establishing a compliance framework.

According to the Korea Herald, South Korean financial giant KB Financial Group has announced a strategic partnership with American crypto venture capital firm Pantera Capital, aiming to expand its digital asset strategy, enhance blockchain financial competitiveness, and accelerate the development of new businesses. Previously, KB Financial had signed a memorandum of understanding with the Bank of Korea regarding the "Project Han River" and established a partnership with stablecoin issuer Circle.

According to on-chain analyst Yu Jin (@EmberCN), Pantera Capital, the leading investor in Ondo, transferred 83.9 million ONDO (approximately $22.11 million) 5 hours ago, and the market expects this batch of tokens may be sold soon.The address receiving the above tokens has a similar operation record: a year ago, this address received 34.28 million ONDO (approximately $42.52 million) from the multi-signature address of the Ondo project party, which was then transferred in batches to Coinbase Prime.

According to official news, Four Pillars announced that it has obtained Series A financing from Pantera Capital and Further Ventures, with the specific amount undisclosed.It will transition from a previous research institution to a blockchain research and infrastructure provider aimed at institutional users. It is reported that in the three years since its establishment, Four Pillars has collaborated with over 100 protocols and companies, releasing more than 600 research reports. In the future, it will focus on three main directions: FP Research (divided into five specialized departments: crypto, investment, institutions, Asia, and technology), FP Validated (institutional-level validator infrastructure providing staking services), and FP Institution (a newly established institutional department offering seminars and consulting services).

According to BBX data, the first public collapse case in the corporate digital asset reserve sector occurred yesterday, and on the same day, the crypto industry jointly issued the largest legislative mobilization of the year. Several listed companies disclosed their latest reserve actions, with the core dynamics as follows:Satsuma Technology Plc (LSE: $SATS) reported by Bloomberg on April 23 that digital asset investment firm Pantera Capital (holding approximately 6.7%) is pressuring the company, along with other shareholders, to liquidate all 646 BTC (current market value approximately $50 million) and return the cash to shareholders. The company's executive chairman, Ranald McGregor-Smith, confirmed that they have received requests from shareholders for capital return, stating that they are "evaluating options."DeFi Development Corp. (NASDAQ: $DFDV) announced that its Treasury Accelerator Program has completed a strategic equity investment in Japanese listed company Allied Architects, Inc. (TSE: 6081), marking the company's first entry into the Asian market. As of recently, the company holds approximately 2.2 million SOL (market value approximately $195 million), using "SOL per Share (SPS)" as a core performance indicator.H100 Group AB (OTCMKTS: $HOGPF) upgraded the letter of intent (LOI) signed in March to a binding share purchase agreement, intending to acquire a total of approximately 2,450 BTC reserves from Moonshot AS and Never Say Die AS; upon completion, the company's BTC holdings are expected to rise to approximately 3,501 BTC, with the transaction structure being all-stock consideration (BTC for BTC, no cash involved). Existing shareholders are expected to hold about 30% after completion, with the delivery expected to be completed by August 2026.Remixpoint, Inc. (TSE: 3825) recently increased its holdings by 20.0312 BTC (approximately $1.57 million), bringing its total BTC holdings to 1,431.33 BTC, with a current paper profit of approximately $21.28 million; the company also plans to purchase approximately $3.13 million in additional crypto assets.