Jonas Kristensen

The data from @dantwany tells the story pretty simply. The number of VCs deploying: 2022: 5,300+ 2026: <400 Down 90%+ As I noted in pre-seed/seed its worse. I got to ~30 below based on the QTs and from speaking with peers. Here is the list of who is still deploying for those raising at under $100M val: - Varys Capital (me) - Coinfund (@EvanTheFeng ) - Dragonfly_xyz (@HadickM, @TheOneandOmsy ) - 6thManVentures (@mdudas ) - DraperVC (@maxime_bucaille) - Lattice fund (@MikeZajko ) - PortalVentures (@Evanzsolomon , @dotcuriouscat ) - Blockchaincap (@jonah_b ) - Greenfield cap (@claudedonze ) - v3v ventures (@0xstajus ) - CMT Digital (@samiam2194 ) - Dba xyz (@jon_charb ) - EV3ventures (@DAnconia_Crypto ) - Wintermute (@joschakup ) - ZeePrimeCap - Greenfield_cap (@gleb0x ) - Collider VC (@TheEylon ) - 1kx (@pet3rpan_ ) - Moonrock Capital (@sjdedic ) - BanklessVC (@benlakoff ) - Cb ventures (@HoolieG ) - Maven11Capital - Multicoin (@shayonsengupta) - Breed vc (@JedBreed ) - Rockaway_X (@ryanconnor ) - Borderless cap - Castle Island VC (@nic_carter , @MattWalshInBos ) - Haun Ventures (@Beylin, but mostly later stage) - Pantera Capital (@FranklinBi, but mostly later stage)

Putting my money where my mouth is: Opened a leverage long on $MEGA. 1) @megaeth is the only genuinely exciting new ecosystem right now. 2) Impressive density of talent and genuinely interesting new use cases and apps. 3) TGE is close, expecting momentum and mindshare to pick up, which should drive a meaningful acceleration in pre-market pricing from here. I’m not a trader, so if I get liquidated, at least I farmed some crates on @infinex. win win win

Launching a new podcast today! Filmed at our NYC office, each episode of @Archive_Pod focuses on a founder or operator who has built an important crypto business/protocol. The first episode is with @keoneHD, founder of @monad. We dive into Keone’s upbringing, the early days of Monad and the journey to raising the seed round. Plus, we talk about recruiting + scaling the team, and the philosophies they used to launch and grow the network. Here's what we discussed: 0:00 - Intro 0:42 - Altitude 1:32 - Monad's Launch 4:25 - Keone’s early life and interests 16:52 - Where Keone’s work ethic came from 19:52 - Working at Jump and how the culture passed on to Monad 24:26 - Starting Monad 30:05 - Raising the seed round for Monad 32:29 - Growing the Monad community and open-sourcing code 36:35 - How Keone hired for the early team 44:07 - The future of Category Labs 51:26 - Which metrics is Monad focusing on 1:00:24 - Building a base of loyal and passionate users 1:07:45 - The personality of an L1 founder 1:13:46 - Founders that Keone looks up to 1:18:34 - Day in the life of Keone 1:23:57 - The endgame vision for Monad

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Wrapping up 2025 at @SolanaConf in Abu Dhabi! 🇦🇪 @joschakup and @0xmilkmaster from our team will be there from 11 - 13 Dec Building on @solana? Let’s connect! DM them to meet up at Breakpoint 🤝

Today, I'm thrilled to announce that we've raised an additional $24 million in new capital, including a $20 million Series A co-led by General Catalyst and Jump Crypto, along with Wintermute Ventures, Coinbase Ventures, Crucible Capital, and an incredible set of angels. They will be key to actualizing our vision: democratizing access to the highest quality and most liquid global asset markets in the world. We started Ostium with the vision of upending the legacy CFD market, an idea that Marco and I first conceptualized trading on offshore brokers in a hacker house. These platforms happily let users like us take risky positions, but when those same positions moved against them, they’d swiftly exercise discretion over pricing, liquidations, and withdrawals. It took sending countless emails pushing brokers to honor their own terms to realize the system was broken. From day one, our goal has been to fuse two core values into a single product: (1) the transparency and self-custody of crypto, and (2) the fair pricing and deep liquidity of traditional markets. Those two north stars have shaped every architectural decision we’ve made since. Scaling Liquidity To scale that model without compromise, Ostium is expanding its liquidity partnerships. The protocol will now be able to support dramatic increases in liquidity, open interest, and asset coverage, allowing us to expand into the most liquid markets in the world. This growth is supported by a core set of liquidity partners able to hedge flows across a diverse range of traditional assets while integrating directly with crypto rails. Today, Ostium’s main hedging partner services the protocol by managing the bulk of these flows, hedging exposures when they exceed certain thresholds, and ensuring open interest doesn’t skew too heavily in a particular direction. That hedging capacity will be expanded materially with new liquidity integrations. There's also a new, comprehensive dashboard detailing the live and historical hedging positions on the protocol, allowing anyone to track the residual exposure OLP is taking on at any time. Check it out at ostiscan(.)xyz. In the coming months, the Ostium protocol will evolve from a single-quote RFQ system into a competitive quoting environment, wherein makers will compete directly at the protocol level to quote and hedge large orders. Their participation will be gated and their economic alignment with the protocol ensured via an inbuilt native staking mechanism and slashing system. Why We Chose This Architecture Our architectural choices follow directly from this vision. Building a fully onchain execution engine inherently delivers transparency and self-custody. But crypto rails today often make fair pricing and deep liquidity harder, especially for longer-tail traditional assets. The result is that while many traders may think they are trading a multi-trillion dollar market like the gold market, they wind up in fact betting on an illiquid derivative thereof, subject to the often unreliable liquidity dynamics of the crypto markets. As a result, we opted to build a single-quote RFQ model, not an orderbook exchange. Ostium quotes directly from a specialized oracle, enabling the protocol to price assets at the underlying market's price (or very close to it) and offer the closest thing onchain to the execution depth that a trader would get in the real markets. Points Program Updates In line with this expansion, two changes to the points program to double down on our core focus: 1. CFD trader onboarding boost If you’re a traditional CFD trader and want to Break Up With Your Broker to trade onchain, you’ll be eligible to receive a 2x boost on all points earned for the first 30 days from signup with Ostium. If this is you (or any of your friends), please fill out the form on Ostium’s landing page and forward broker affiliation to breakup@ostium.io. (Note: not available in U.S. / for U.S. traders) 2. TradFi boost From now on, we will be increasing points program scores on all traditional assets - stocks, indices, FX, & commodities. This is the first and only trading venue in DeFi today with over 95% of open interest in traditional markets, and we will be doubling down on our core focus. Finally: if you want to work with a brilliant team, we're hiring the very best across a variety of positions. We look for exceptional and spiky people. If this is you, join us. (https://jobs.ashbyhq(.)com/ostium)

Unveiling the DFlow Prediction Markets API Today, we give builders a direct, programmatic way to access real tokenized @Kalshi markets natively on @Solana The DFlow API is the first and only API to offer: • 100% market coverage • Full composability expected from onchain assets • Flexible redemptions of correct predictions in multiple stablecoins • Deepest liquidity onchain Build with DFlow

We're excited to participate in @pave_bank's Series A A licensed, full-reserve bank building programmable infrastructure for the on-chain era Institutions can hold, transact, and program across fiat and digital assets in one platform Congrats @sodhanani @simonvc Why we invested 🧵