Salil Pitroda

Jamie Knowles from DS3 Crypto will represent Membrane Labs at the Fasanara #DigitalAssetConference on November 8th. Membrane's modular software focuses on: 1) Loan management: Allows you to more effectively manage the entire lifecycle of crypto-backed loans (collateral management, reporting, etc.). 2) Post-trade settlement and treasury management: Simplifies operations. 3) OTC derivatives: Improve how you book and manage customized OTC transactions (e.g, bi-lateral option trades). Please get in contact to learn more or discuss themes and trends the team are seeing. #MembraneLabs #DS3Crypto #CryptoLending #DigitalAssets

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Regulatory clarity for responsible crypto innovation is emerging in the US and stands to catalyze the market adoption of such innovations. When regulations are clear, consumers and innovators all benefit. Financial Innovation and Technology for the 21st Century Act (#FIT21) is expected to pass with bipartisan support in Congress. FIT21 would redefine how securities issuers have to comply with existing federal law and Supreme Court precedent. The bill would create a new definition specific to digital assets, to identify when they're digital securities or digital commodities and whether the SEC or CFTC should be the primary spot market regulator. This collaborative approach signals a shift away from the current unclear, antiquated and antagonistic processes in some of the US regulatory agencies.

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⛳ Emerging fund managers pulse check. PitchBook tracks over 10,000 funds that are raising money, with 45% being emerging fund managers (defined as firms with less than 3 funds). Despite a dip in available capital—down to 16% from the pre-pandemic 23%—these managers are finding creative ways to stay competitive, like partnering with larger firms. 💼 Joanna Drake (founder turned investor) shared how "wildly different" it is raising a fund versus for a startup. One key datapoint she shared on the fund side was how little feedback you get along the way (and the years you can wait for it). The “long-winded and challenging process to raise capital” inspired Drake and Ben Black to create RAISE Global, a community for emerging fund managers and the “forward-thinking LPs” who back them. (A decade later, several hundred emerging managers with AUM under $200m are on the platform) They've found the newest emerging managers are more diverse and geographically dispersed than Silicon valley, and more were able to crack the ceiling and raise larger $100m funds (although this is still a small % of the market, requiring partnership with larger funds at the late stage). ▶ And not a hugely surprising datapoint: A lot of action is in the sub $49 million range, where roughly 50% of emerging managers are raising. Theresa Sorrentino Hajer, Head of U.S. venture capital research at Cambridge Associates warns that past success isn't actually a strong indicator on it's own to assess emerging managers. We've had a valuation reset. And newer managers with investments during the 2019-2021 "party days", need to build relevant track record and play to their strengths. A lot of emerging managers are specializing (70% who applied for Raise had a thematic focus), and betting on getting in as early as possible in the startup's lifecycle (Raise: 31% at accelerator/ pre-seed stages, and 47% at seed stage). “Emerging managers have to compete on a different dimension,” Nick Moran from New Stack Ventures. You're no longer just dealing with capital. Emerging VC's need to be as innovative and nimble as the startups they invest in, having a unique thesis and insights. They also play a role at the top of the deal-flow funnel: helping larger firms find promising companies, so finding a thesis, sector or philosophy aligned partner at a larger firm is helpful. Onwards! #EmergingManager #Startups #VC

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Hot off the press. Pier Two’s CFO, Tom Whitton, drops an opinion piece today on CoinDesk. https://lnkd.in/gzWh_p_V “Benchmarks are important in financial markets to create structure, standardization and comparability for many financial products, including ETFs. CESR is a useful rate for issuers that are looking to offer ETH Staking funds, and for validators that are looking to engage in performance monitoring, or swaps to lock in rates and build more sustainable and less volatile business models.” Benchmarks and performance. Such is life, in staking. Check it out. #staking #ethereum #cesr #performance

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KYAX: web3 Financial Data Reporting Tool was at CoinDesk #consensus2024 to talk about Regulation, Reconciliation & Financial Reporting along with Robert F. Kennedy, Catherine Wood of ARK Investment Management LLC, Senator Ron Wyden (D-OR), Chairman, United States Senate Committee on Finance. The U.S. seems to be waking up, with a significant number of stalls, people and cautious optimism about the post-election environment. Top 5 Takeaways: ⚠Regulation Although the conversation was U.S. focused, there was a full recognition that EMEA and APAC had stolen the lead on policy, with many leaders reassuring themselves that a fast follower position, avoiding the challenges of MiCA will allow them to craft a separate, “Better” regulatory framework. ⬆ Are we back? Cautious optimism threaded conversations, with many looking at the ETH ETF as another shot of liquid adrenaline to the industry.  A definitely maybe, 8/10 we are back.  ⚱ The ETH ETF: The Beginning of the End? With a critical mass of ETH, lumped and unstaked, the price of Ethereum is ultimately tied to the usefulness and functionality of the Ethereum network. If Ethereum continues to struggle with scalability issues, high transaction fees, or security vulnerabilities, it could deter builders from building on it and force projects and utility to bridge away from it, causing an uncoupling of price and utility.  ⚪ New Coins There were the usual new and old Meme coins in attendance, but also, some legitimate tokenization discussions around AI and leveraging assets coming under the spell of this new asset format, with LAKE (LAK3) being among the most promising.  🏈 U.S. Focus The segregation of the U.S. market from the global conversation is a real threat to U.S. business leadership, with the foreign participants focusing on VC conversations rather than any market based expansion interest. If you want to find out more about how KYAX can help you provide reliable & timely reporting - drop us a message! #KYAX #KYAXchats #Consensus2024 #Money2020

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Betting on the future. Today, a very successful Silicon Valley serial tech entrepreneur engineer shared with me this assessment of the AI frenzy. "Its like 1995 when the Internet launched". I agree. To me, having started and invested in early startups in 1995, means we are at the very early stages of AI investment, infrastructure build, expansion of the sector impact, creation of new technology AI solutions, and formation of AI companies that haven't been thought or dreamed about yet. Very exciting times ahead for the next two decades and beyond. Fasten your seat belts. Forward. #openAI #ai #articificalintelligence #AIfunding

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Partner and Head of Web3 & Disruptive Technology, Zoe E. Wyatt, and Crypto Tax & Accounting Technical Director, Dion Seymour, discuss the FCA’s stance on cryptoassets and the steps the government must take to for the UK to become a global crypto hub, in Thomson Reuters. Follow the link below to read Zoe and Dion's article in full. #Web3 #CryptoTax #Cryptoassets #Crypto

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The Wall Street Journal has an incredibly insightful op-ed from Paul Ryan (Political Office of Speaker Paul D. Ryan (WI-01)). Normally you hear #crypto advocates in terms of why it is a more stable store of value than even the formerly defacto standard of the United States Dollar. Obviously post FTX and Sam Bankman-Fried that idea held no standing. Of note though given the Former Speaker of the House's apporach is demonstrating sound financial and economic arguments highlighting facts about Saudi Arabia and China's postions and numbers one and two of our own foreign debt is that both are showing less appetites for our own dollars. Therefore, in terms of international competitiveness and national defense, adopting this standard could help increase our competitiveness and that of our country domestically and internationally. What do you think? #management #venturecapital #privateequity #capitalmarkets #cryptocurrencies

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Our April Real-World Assets Tokenization Report details a selection of 52 DeFi on-chain tokenization providers. Ribbon Lend allows depositors to lend to approved institutional borrowers. Tribal Finance connects institutional investors and lending opportunities. Click to read our most recent report: https://loom.ly/wrxGQTg #realworldassettokenization #digitalassets #crypto #realworldapplications #data #research

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Grayscale, a leader in digital asset management, has filed with the SEC to convert its $520 million Digital Large Cap Fund into a spot #ETF, with the filing submitted via the New York Stock Exchange (NYSE) - https://zurl.co/clWM. Grayscale fund includes a mix of major cryptocurrencies like #Bitcoin (76%), #Ethereum (18%), with the rest in #Solana, #XRP and #Avalanche. Why does this matter? A spot ETF would allow investors to buy and sell shares in the fund with greater ease, providing broader access to crypto investments. This move follows the SEC's approval of Grayscale’s Bitcoin and Ethereum ETFs earlier this year, marking another step toward mainstream crypto adoption. While ETFs are gaining popularity, they will never truly be the same as holding real cryptocurrencies. Owning the actual digital assets makes a significant difference - something ETFs simply can't offer. As interest in crypto rises, protecting and managing these assets becomes more important than ever. Ensure your funds are safe and secure with Vaultody's custodial solutions! #Vaultody #Crypto #ETFs #Blockchain #Grayscale #SEC #NYCE #DigitalAssets #CryptoCustody

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Read all about it📢 See the press release below highlighting the insights from DwellFi's report, "The State of Applied AI in Fund Administration." Crafted in collaboration with industry leaders Alternatives Watch, Withum, and Cole-Frieman & Mallon LLP, this report is a must-read for fund administrators aiming to stay competitive in today's dynamic M&A market. Discover how AI is not just a tool but a critical differentiator in the fund administration landscape. With 40% of fund admins already harnessing Gen AI tools and a staggering 80% planning to adopt them within the next year, the report highlights AI's pivotal role in driving efficiency and scalability. As firms navigate the complexities of mergers and acquisitions, AI emerges as an indispensable ally, streamlining operations and enhancing firm valuations. Hear from thought leaders Joseph Cassano, CPA, John T. Araneo, Kumar Ujjwal, and Skyler Steinke, who share their insights on how AI is reshaping the future of fund administration. This report is your gateway to understanding how strategic investments in AI infrastructure and training can position your firm for success. Don't miss out on these invaluable insights! Read the full report and equip your firm with the knowledge to thrive in a rapidly evolving market: https://lnkd.in/gXJQW4tf Contact Skyler Steinke or Nathan Paitchel to start your journey of Applied AI adoption today. #DwellFi #AI #FundAdministration #PressRelease #Innovation #FutureOfFinance

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VC funding is probably bottoming, but bad behavior continues...just concentrated in A.I. Hopefully this will be the final 'blow off' of the bad (read FOMO) practices of the venture industry, and more professionalism/risk management/portfolio level strategies take hold. https://lnkd.in/ggwrV8MT

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LendAPI Enters the Private Embedded Finance Infrastructure Market LendAPI (Techstars '24) is pleased to announce our entry into the private Embedded Finance infrastructure space, enabling merchants of all sizes to implement their own Buy Now, Pay Later (BNPL) and in-house financing solutions. This strategic expansion empowers businesses to provide flexible payment options directly to their customers, enhancing purchasing power and driving sales growth. The Power of Embedded Financing As consumer demand for flexible payment options continues to rise, embedded financing solutions, such as BNPL, have become indispensable tools for merchants. LendAPI’s platform allows businesses to offer seamless, on-site financing solutions, enabling customers to spread payments over time for higher-value purchases. By setting up their own financing capabilities through LendAPI (Techstars '24)'s platform, merchants can: - Increase sales by reaching a broader customer base, including subprime buyers. - Boost revenue by capturing interest payments previously earned by third-party financiers. - Expand service offerings with additional products, such as embedded insurance. How LendAPI (Techstars '24) Supports Merchants LendAPI provides a comprehensive, turnkey solution that allows merchants to implement private-labeled financing quickly and efficiently. Our platform includes: - Customizable checkout integrations for a seamless customer experience. - Pre-configured connections to major credit bureaus for easy credit checks. - Full integration with loan servicing platforms to automate payment collection. - Compatibility with popular e-commerce platforms such as WooCommerce and BigCommerce. With our flexible, scalable infrastructure, LendAPI (Techstars '24) eliminates the need for in-house engineering resources, allowing businesses to rapidly deploy their own financing solutions and start offering payment options that meet their customers’ needs. For more information or to get started with LendAPI’s Embedded Finance platform, visit LendAPI.com and speak with our team about building your in-house financing capabilities today. https://lnkd.in/gVKkJ9Ed

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Pleased to share that Fin Capital’s Fintech CEO Pulse Report is out! Fin Capital surveyed over 50 CEOs and C-suite leaders of private companies from our portfolio and the broader fintech industry during June and July 2024 to get a quick pulse on what’s top of mind for fintech’s leaders. Here are some key takeaways: - Optimism in the Air: More than 60% of CEOs reported being bullish or highly bullish on the fintech industry for the second half of 2024. - Regulatory Changes on the Horizon: CEOs identified Cryptocurrency, Open Banking, and Buy Now Pay Later as the top three sectors likely to see increased regulation by the end of 2024. - Headwinds persist. Despite overall bullishness on fintech, CEOs report a weak IPO environment and flag that macroeconomic volatility, regulation, and high interest rates remain top challenges for their companies. However, with abating inflation, CEO’s believe we could see rate cuts begin in September, which could positively affect asset values and market buoyancy, including the IPO window. For more insights, including comments from Logan Allin, Christian Ostberg, Matthew D. Mann, CFA, and Stephanie Perez, check out the full report here: https://lnkd.in/gK6usfwM

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Interesting article Charles Perer about the evolving landscape of the ABL market and using collateral vs enterprise value to underwrite. Every deal is unique, and the key to a successful transaction is understanding what structures are available and differentiating the tire kickers from the closers!

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The article reports that SEC Chair Gary Gensler is advocating for changes to the definition of "exchange" and "dealer," which could impact crypto trading platforms and other market participants. tZERO is already compliant and is one of only two firms in the US with special purpose broker-dealer status, enabling it to provide secure custody for digital asset securities. #digitalassets #privatemarket #privatesecurities #digitalsecurities #tokenization #regulatorycompliant #DeFi https://lnkd.in/gDpk59KR

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