Gagra Ventures

1/ This year’s official @consensus2026 closing party by @CoinDesk was a massive step backward. Hosting the flagship event at E11even — a strip club — wasn't just inappropriate; it was incredibly low-brow for an industry trying to grow up. 2/ Let’s be clear: I’m all for alcohol, music, and a good time. Hire a world-class DJ. Throw a massive rave. Go to Club Space. But choosing a strip club as the official venue for a global conference is a choice that reflects poorly on all of us. 3/ Just because this happened in 2021 doesn't mean it should happen in 2026. Back then, Coinbase, FTX and Binance execs were there, but the industry has evolved. We are supposed to be moving toward institutional maturity, not leaning into "bro-culture" clichés. 4/ I’ve always been an advocate for sex work. I have zero issue with women making $40k–$80k on their own terms. The issue is the context. 5/ When an official event for a top-tier conference — filled with institutional partners and people of all genders and religions — centres on women shaking for dollars, it diminishes women to sexual objects and enforces a stale, exclusionary culture. 6/ It’s honestly boring. I guarantee brands like @MetaMask and CoinDesk will one day look back at their logos plastered on those walls with genuine embarrassment. 7/ We had international attendees flying in from across the globe. Is this really the best US crypto has to offer? Working the pole is a skill, but watching it in a professional context just left most people looking dazed and awkward. 8/ The vibe was off. I ran into my banker and some mid-tier hedge fund guys there. We can talk millions on Wall Street or over steak, but meeting at a strip club is unnecessary. We could’ve hit a polo club, a baseball box, or played padel. 9/ Even the economics were a "bear market" vibe. Most people were just watching with a mix of shock and intrigue. The girls weren't making much. They used to take crypto; now they don't. The floor was dry. No fiat moving. Why were we even there? 10/ Seeing a banker film the stage (until security stepped in) while seeing my bankers logos walk around in a strip club is the peak of industry cognitive dissonance. 11/ This industry is capable of so much more, yet we keep tripping over our own feet. We want to be taken seriously on the world stage, but we’re still acting like we’re in a basement. We must do better. Special shoutout to @SolanaFndn, @amystreet, and @SuperteamUSA. Your Accelerate vibe was immaculate, paired with the best Mario Kart-themed afterparty. 🏎️💨 It was the perfect illustration that "crypto culture" doesn’t have to mean "bro culture." You can have high-energy, high-intelligence fun without… whatever E11even was. Let’s talk economics: A single sponsorship for that E11even event costed roughly $90k. The entire Mario Kart event? Maybe $50k. Using a massive brand budget to alienate half your audience is a spectacular waste of capital. 📣📣📣 Conference organizers and sponsors: we have to do better. If we want to move millions on Wall Street, we need to stop acting like we belong in a basement. ✌️

Aaru recently reached a $1 billion valuation, making it one of a growing crop of hot companies led by people who have barely cracked their 20s on.wsj.com/4b4wunG

User Interview #3