Enrico Ferro

@Utsav_DAR dm

Last 60 days 🚀

@srcasm I’m 👋 @noris_capital, investing first checks/seed funds in crypto and Web3 startups, including DeFi projects and platforms with tokenomics and community driven growth.

Too many founders treat a term sheet like a set of instructions. They see the VC’s brand, the size of the check, and they subconsciously hand over the steering wheel. They start asking, "What does the board want to see?" instead of "What does the customer need me to build?" This is the fastest way to kill a great company. On paper, the power dynamics in venture are skewed. VCs have the capital, "market data," and leverage on terms. But paper doesn't ship code. And it definitely doesn’t talk to customers. The person with the most power is the founder.

@E_Bruxxx I’m 👋 @noris_capital, investing first checks/seed funds in crypto and Web3 startups, including DeFi projects and platforms with tokenomics and community driven growth.

VC cheat code: - don’t be an asshole - don’t waste founder time - don’t sleep with founders - don’t make empty promises - don’t pull term sheets What did I miss?

@plumenetwork @blockworksDAS @apolloglobal @Re7Capital @therollupco I’m 👋 @noris_capital, investing first checks/seed funds in crypto and Web3 startups, including DeFi projects and platforms with tokenomics and community driven growth.

GM 🗽 Last week at @blockworksDAS, Plume hosted three action-packed events. From private dinners with @apolloglobal and @Re7Capital to an afterparty bash with @therollupco, there was no shortage of conversations and connections. Check out the electrifying evenings. 🧵👇

@saylor I’m 👋 @noris_capital, investing first checks/seed funds in crypto and Web3 startups, including DeFi projects and platforms with tokenomics and community driven growth.

It’s a Good Friday to buy Bitcoin.

@stacy_muur I’m 👋 @noris_capital, investing first checks/seed funds in crypto and Web3 startups, including DeFi projects and platforms with tokenomics and community driven growth.

If you invested $10,000 in The Sandbox $SAND in November 2021, you would have $100 today. That would have been enough to make a down payment on a real piece of land like a normal human being.

@DeFi_Andree @aave @maplefinance @VenusProtocol @0xfluid @ether_fi @eulerfinance @tokenterminal I’m 👋 @noris_capital, investing first checks/seed funds in crypto and Web3 startups, including DeFi projects and platforms with tokenomics and community driven growth.

Q1 2026 lending revenue: ▸ @aave: $30.8M — 66.5% share ▸ @maplefinance: $3M — 6.4% ▸ @VenusProtocol: $2.5M — 5.4% ▸ @0xfluid: $2.4M — 5.2% ▸ Cash (product of @ether_fi) : $1.7M — 3.8% ▸ @eulerfinance: $1.7M — 3.8% Aave remains the benchmark for DeFi lending. Source: @tokenterminal

@matterhornso @abhinavramesh @Nodefoundryfans I’m 👋 @noris_capital, investing first checks/seed funds in crypto and Web3 startups, including DeFi projects and platforms with tokenomics and community driven growth.

Our official intro video is here! Matterhorn is now live — the AI-native, multi-chain way to build Web3 apps with simple chat prompts. Watch the launch thread here ↓ @abhinavramesh Join the waitlist now → matterhorn.so x.com/abhinavramesh/… @Nodefoundryfans #BuildwithMatterhorn #Web3Builders

@alyonitaa I’m 👋 @noris_capital, investing first checks/seed funds in crypto and Web3 startups, including DeFi projects and platforms with tokenomics and community driven growth.

Gm & pick your crypto bf in Cannes rn

@SmokeyTheBera I’m 👋 @noris_capital, investing first checks/seed funds in crypto and Web3 startups, including DeFi projects and platforms with tokenomics and community driven growth.

Conference Season Vibe Check Consensus HK - Lots of attendance from legacy builders, funds and instos, esp across DeFi and RWAs. - Instos and funds are less cooked on average than the West. Lots of groups like IDG, Hongshan, Gaorang etc still sitting on good amounts of cash - HKSE and Hong Kong private startups are actually doing quite well - many are raising at 2x vals of the average YC grad nowadays. - Tons of blood in the water. Multiple dead liquid funds. Multiple projects quiet quitting / checking out. - LOTS of supply of RWAs. No demand though. - BTC fud at ATHs. Lots of OG folks losing faith esp after BTCs lack of presence in the debasement trade, and more credible folks questioning crypto as a whole than I've seen in a long time. - No one's in a rush to bid. - Rumours that we were gonna "rug" after Consensus. Perhaps one of the most retarded ones I've heard so far, as we wrap up multiple acquisitions and double down on internal products. Why tf would I drag my ass for 20 hours around the world to these performative conferences in order to rug smh. Asia loves to talk smack as usual. ETH Denver - Relative ghost town attendance wise - largest side events had a couple hundred people optimistically - That said, lots of OG builders and friends were around. Way less of the people trying to sell you stupid audit services or KOL marketing or similar nonsense. - Higher signal due to less noise. The people in attendance wanted to be there or cared enough to show up, esp with lots of flight delays and wind. - Similar interest in RWAs and Agentic Finance, though I've seen very few things that look like they'll actually move the needle yet personally. Saying "RWA looping" 5x doesn't actually make it work. - Friends at chains/infra projects are all facing similar problems -> why tf should someone bid my token - Tons of M&A in progress between teams shutting down and well capitalized players getting more aggressive. - Many small VCs (25-50M) sitting on capital without any clue on what to invest in, with AI one-shotting portcos on a weekly basis. - Retail cooked beyond all belief. tl;dr - HK / APAC as a whole is cooked but not as cooked as the west - Many ded funds, projects and quiet quitters - RWAs and Agentic Finance catching narrative bids - Private rounds are anemic af but there is some cash on the sidelines, everyone scared of getting oneshotted by AI - Retail super ded - All that people are looking at is cashflow / rev generation for tokens

@TFTC21 I’m 👋 @noris_capital, investing first checks/seed funds in crypto and Web3 startups, including DeFi projects and platforms with tokenomics and community driven growth.

The March jobs report looks strong until you look at what's inside it. The US economy added 178,000 jobs, blowing past the 65,000 consensus estimate. But the headline number is masking what's actually happening underneath. February's jobs report was just revised from a loss of 92,000 to a loss of 133,000, the worst single month since December 2020. January was revised up by 34,000 to 160,000. The pattern of large downward revisions has become a recurring feature of this labor market data. The initial number gets the headline. The revision gets buried. March's "beat" also comes with context. Healthcare accounted for 76,000 of the 178,000 jobs added, and 35,000 of those were striking healthcare workers returning to their jobs at physicians' offices. That's not new hiring. That's people going back to work after a strike ended. Strip out the strike resolution and healthcare added roughly 41,000 jobs, still strong but closer to its 12-month average of 29,000. The federal government lost 18,000 jobs in March as DOGE-driven layoffs continued showing up in the data. Financial activities shed 15,000 positions. The unemployment rate ticked down from 4.4% to 4.3%, but that drop came almost entirely from a reduction in the labor force, 396,000 people left. When people stop looking for work, the unemployment rate goes down even if hiring isn't improving. The labor force is shrinking due to slowing population growth, a steep drop in immigration, and declining participation. Wages rose just 0.2% for the month and 3.5% year-over-year, both below expectations. Even where hiring is happening, employers aren't competing hard for workers. The March number looks good in isolation. But much of it was a mechanical bounce-back from a healthcare strike, the labor force is contracting, wage growth is cooling, and February's hole just got 44% deeper than originally reported.

@mpiotr87 I’m 👋 @noris_capital, investing first checks/seed funds in crypto and Web3 startups, including DeFi projects and platforms with tokenomics and community driven growth.

🇫🇷 Fuelled by coffee & pastries at #EthCC! Looking for: - Top Web3/AI projects to invest in & advise - VCs/Angels to share dealflow If you're in Cannes and building the future, let’s chat. pminvestments.io #Ethereum #Cannes #VC

@KStefanovych @base @Uniswap @ArrakisFinance @0xPulsePlay @kmetehanclskn @fabianferno @LeoFranklin_15 @RohitOnChain @levan_dev @liutenkos I’m 👋 @noris_capital, investing first checks/seed funds in crypto and Web3 startups, including DeFi projects and platforms with tokenomics and community driven growth.

quick takeaway from a private brunch in cannes with founders + vcs: capital isn’t chasing ideas at early stages. it’s chasing clarity, speed and committed founders (ideally with a strong tech background). vc perspective is simple: ✍️ where do users come from? ✍️ how does value actually move? ✍️ is the team ready to adapt fast? ✍️ can you show real, continuous growth? everything else gets ignored. 🦄 Hosted by: @yellow x @base x @Uniswap x @ArrakisFinance x @Bitpanda during @EthCC week @Cointelegraph joined the table listening to founders building on @Yellow Network 💻

@Yellow__Korea @Coiniseasy I’m 👋 @noris_capital, investing first checks/seed funds in crypto and Web3 startups, including DeFi projects and platforms with tokenomics and community driven growth.

🟡 Yellow, EthCC Cannes에서 VC 브런치를 공동 주최했습니다 Base, Uniswap, Arrakis Finance, Bitpanda와 함께 Founder x Investor 브런치를 열었습니다. Cointelegraph 팀도 현장에 있었고, Yellow 생태계에 합류한 창업자들이 직접 투자자들과 대화를 나눴습니다. 📌 VC들이 지금 가장 묻는 질문들 유저는 어디 있나요? 실제 가치를 온체인에서 쉬운 UX로 보여줄 수 있나요? 팀이 빠르게 움직이고 피벗할 수 있나요? 실제로 지속적인 성장을 보여줄 수 있나요? Yellow는 이 질문들에 답할 수 있는 프로젝트들을 위한 가속 환경을 만들고 있습니다. 500개 이상의 프로젝트, Builders Alliance 파트너십, 그리고 계속 확장되는 생태계가 그 증거입니다. 👏 Yellow 생태계 둘러보기 1️⃣ Yellow App 접속 2️⃣ 생태계 속 앱 확인 3️⃣ 관심 있는 앱 바로 사용

@Benjamin918_ @EthCC I’m 👋 @noris_capital, investing first checks/seed funds in crypto and Web3 startups, including DeFi projects and platforms with tokenomics and community driven growth.

My own @EthCC recap General take: the tourists are gone, and those that are left are focused & working hard. This is how I like to see our industry Topics that came up a lot: 1) TradFi looking to DeFi mostly for the purpose of getting yield or liquidity for unproductive and/or illiquid assets. Good opportunity for headline partnerships 2) Crypto VCs are in a bear market, but Fintech VCs are rushing to DeFi. Those Fintech VC's have very different rubrics & most don't want projects to launch tokens 3) Job market is bad, in almost all industries. Projects with runway have a good chance of making dream teams by scooping up talent from both DeFi and TradFi

@realgigiyip I’m 👋 @noris_capital, investing first checks/seed funds in crypto and Web3 startups, including DeFi projects and platforms with tokenomics and community driven growth.

EthCC takeaway 1. VC仍然很有钱，没融到钱是你的问题 2. Cap在招人，中东TVL是我们下一个target，DM open

@Player1Taco I’m 👋 @noris_capital, investing first checks/seed funds in crypto and Web3 startups, including DeFi projects and platforms with tokenomics and community driven growth.

VC-funded capital earns the yield. If you give $1M and I give back $1.2M ($800K from my capital + $200K yield), I'm earning 20% on your million, and giving you 12% back. It's a win-win for growing your investment. #VCFunding #Investment #Finance

@FOMOBOYZS I’m 👋 @noris_capital, investing first checks/seed funds in crypto and Web3 startups, including DeFi projects and platforms with tokenomics and community driven growth.

Gn 🇫🇷 EthCC is coming to an end Still cool, still a few good events but we definitely felt the bear market and global context Hope we recover fast Anyway who’s still in Cannes? 👀

@krakenfx @Krak @EthCC I’m 👋 @noris_capital, investing first checks/seed funds in crypto and Web3 startups, including DeFi projects and platforms with tokenomics and community driven growth.

⛏️ Bitcoin mining could be heading back to US soil 💳 @Krak shipped this week: 16g of metal and a luxury travel concierge 🌊 Kraken leaders take on @EthCC in Cannes All in this week's Kraken in 60

@santimentfeed I’m 👋 @noris_capital, investing first checks/seed funds in crypto and Web3 startups, including DeFi projects and platforms with tokenomics and community driven growth.

📺 In our freshly released This Week in Crypto video, we take a look at what the declining sector-wide trading volume means, and how whales and retails alike are hanging by Trump's every word. See what's in store for crypto markets! 👇 youtube.com/watch?v=XFVOxA…