Pantera Capital
@PanteraCapital • 221,510 subscribers
First U.S. institutional asset manager focused exclusively on blockchain technology. Subscribe to our monthly letter: https://t.co/Gy0Apw7uUG…
Videos
Sam Altman Sam Altman joins Cosmo Jiang to discuss why proof of human is necessary in the age of AI. Mason Nystrom also joins to share why Pantera invested in World. In this episode, they cover: - AI is advancing faster than Sam expected. The need for proof of human has never been stronger. - Agents need to move money. Agentic payments are one of Sam's most personally exciting use cases. - Proof of human as a substrate: driver's licenses, education, and employment credentials all appended to a verified human identity. - Targeted advertising is the first massive use case as AI agents flood the internet. - Advertisers will pay a premium for verified human impressions. - World has 18 million verified humans today with 4 billion smartphone users as the addressable market. 01:27 Sam Altman's Keynote at World’s Lift-Off Event 02:12 Why World Was Built 03:48 Blockchain x AI 04:08 World ID Use Cases 04:47 World's Founding Vision 05:10 World ID Trajectory 05:50 Why Pantera Invested in World 06:45 Sam Altman Saw This Coming 07:10 Proof of Human at Scale 10:12 The Value of Digital Identity 11:11 Agents Need a Human in the Loop 11:42 Scaling to Billions of Users 12:53 Enterprise Partnerships
Pantera Capital244,503 просмотров • 1 месяц назад
Korea leads the world in the rate of AI adoption growth. Blockchain is next. Steve and Heechang (Four Pillars Four Pillars) join Stateful, hosted by Jonathan and Franklin Bi. In this episode, they discuss why Korea is blockchain's most important emerging market: - Blockchain allows Korean fintech its first real shot at competing globally - Korean pension funds now view Bitcoin as a portfolio diversification asset - Agentic payment rails in Korea: Kakao Pay joins x402 Foundation - STO legislation passed in January. The bridge between crypto and TradFi is being built - Four Pillars is expanding across Japan, Hong Kong, and Southeast Asia 04:30 AI Adoption and Agentic Commerce in Korea 8:30 Korean Crypto Regulation Before and After 12:10 STO Legislation and the Institutional Wave 16:20 Top Crypto Verticals in the Korean Market 32:00 What Western Companies Should Know Before Coming to Korea 36:40 The Terra Collapse and the Builder Economy
Pantera Capital34,532 просмотров • 13 дней назад
We are moving from a majority of humans with a few bots to a majority of bots with a few humans. World ID is the layer that makes sure humans don't get drowned out. Tiago Sada, Andy, and Tawanda Michael Mahere (World / Tools for Humanity) join Stateful, hosted by Mason Nystrom. In this episode, they discuss how World ID is redefining internet identity: - 40 million people onboarded, 18 million Orb-verified. Orb On Demand launching now - Agent Kit: your agent books flights, makes purchases, and acts on your behalf with a verified human in the loop - Why blocking all bots is the wrong answer and how World ID separates good agents from bad actors - World ID vs Face ID: one person with 1,000 phones fools Face ID. They cannot fool World ID - Anonymous by design: zero-knowledge proofs answer only one question. Are you a real and unique human? 01:00 Tiago Sada on Proof of Human in the Agent Age 05:40 Scaling to 40 Million Verified Humans 07:07 What Tiago Is Most Excited About Next 08:50 Andy Wang on World as the Identity Layer 10:00 Why Blocking All Bots is a Wrong Approach 13:02 Restaurant Reservations and Scalpers 17:00 Tawanda Mahere on What Partners Want 22:08 The Consumer Value of World ID 23:15 Agent Kit and Human-in-the-Loop Commerce 25:21 World ID vs Face ID 29:00 Orb On Demand and How to Get Verified Today
Pantera Capital38,495 просмотров • 17 дней назад
We’re witnessing a convergence of AI and crypto. AI agents can't walk into a bank, open an account, or transact in paper money. Crypto provides the financial rails for AI agents to exchange value online. As AI adoption grows exponentially, we believe crypto demand will follow naturally. Dan Morehead Bloomberg Bloomberg Crypto
Pantera Capital147,646 просмотров • 3 месяцев назад
Conviction Compounds. Ripple CEO Brad Garlinghouse joined Dan Morehead at Pantera Blockchain Summit 2025 to reflect on crypto’s beginnings and how the industry adapted through every cycle. 00:10 Crypto's First Decade 02:17 Contrasting Money over IP and Voice over IP 04:19 XRP ≠ Ripple 06:31 Current Ripple Use Cases 08:01 Crypto’s Next Decade 11:28 XRP Performance Metrics 14:20 SEC vs Ripple 16:17 Building Ripple in America 18:51 Hidden Road & @RailFinancial Acquisitions 20:27 Ripple Share Buybacks
Pantera Capital153,052 просмотров • 7 месяцев назад
Cards vs stablecoins for agentic payments? Both. And here is why. Cuy Sheffield (Visa Crypto) and Jay Yu 🐟 (Pantera Capital) join our Stateful podcast, hosted by Mason Nystrom. In this episode, they cover everything at the intersection of payments, AI, and crypto: - Stablecoin supply up 40%, adjusted volume up 90% in 2025 and still accelerating - The AI mullet: cards in the front, stablecoins in the back - Vibe coders are the most exciting customer segment on the planet. One human companies are coming. - Kill the API key: wallet identity over X402 and MPP is a 10x better developer experience - Why cards are the best way for agents to pay and be paid. 01:08 How Stablecoins Grew 40% in 2025 02:42 Why Stablecoins Work Like Cards 04:16 Visa's Payment Infrastructure Play 05:14 Permissionless vs Vertical Stablecoin Networks 07:32 Agentic Payments: Real vs Hype 09:04 x402: The Agenctic Inflection Point 09:30 Killing API Keys With Wallets 13:00 Building for the Vibe Coder 14:54 Cards vs Crypto: The Real Debate 16:50 What Actually Works for Builders 18:49 Cross-Chain Payment Infrastructure 21:36 Keys, Wallets & User Experience 24:36 Future of Autonomous Payments 29:13 What Gets Builders Most Excited 34:31 Agentic Payment Holy Grails
Pantera Capital33,045 просмотров • 2 месяцев назад
Dive into the investment case for Digital Asset Treasury companies (DATs) with Tom Lee (Thomas (Tom) Lee (not drummer) FundstratDirect.com) and Cosmo Jiang! Learn why DATs may be a more effective vehicle for crypto exposure than owning an ETF or holding the underlying token directly. 🔎📊
Pantera Capital141,295 просмотров • 11 месяцев назад
With Proof of Human, instead of trying to block bots, software becomes human-only by default. Then you decide what access to give agents. Tom Occhino (CPO, Vercel ) joins Stateful, hosted by Mason Nystrom In this episode, they discuss how Vercel is building the infrastructure layer for human-verified agents with World. - Vercel is now agentic infrastructure: deploy with agents, build agents, and a self-improving platform that fixes its own errors - Workflows does for backends what React did for front ends, composable and reusable in one line of code - CAPTCHAs are archaic. Human-only software by default is the new model. - World ID integration via Workflow SDK: one NPM package, one line of code - Humans as first-class citizens of the internet again 00:00 Vercel's Agentic Infrastructure 01:45 From Front-End Cloud to v0 03:15 Workflow SDK with React 05:30 World ID in One Line of Code 07:00 Beyond CAPTCHAs: Humans First
Pantera Capital19,144 просмотров • 1 месяц назад
Tom Lee (Thomas (Tom) Lee (not drummer) FundstratDirect.com) breaks down the market setup fueling the rise of digital assets – driven by the AI boom, the shift toward a digital economy, and the role of programmable money like stablecoins. "Stablecoins have become the ChatGPT story of crypto."
Pantera Capital111,472 просмотров • 11 месяцев назад
We're reaching an inflection point where AI generates more information than humans. Distinguishing agents from humans is a critical moat for trust online. Sam Altman explains why World built World ID with a goal of preserving the human layer of the internet.
Pantera Capital24,779 просмотров • 1 месяц назад
Tokenization is no longer a back-office experiment. It’s the front office. Sandy Kaul from Franklin Templeton Digital Assets and Ian De Bode from Ondo Finance join our Stateful podcast, hosted by Franklin Bi. In this episode, they discuss how capital markets are coming onchain: - 100% of Franklin Templeton’s digital asset AUM comes from net new crypto-native customers - Ondo’s tokenized ETFs: permissionless, 24/7, usable as DeFi collateral like stablecoins for stocks - AI agents will need blockchain rails to execute 183 trillion in machine-to-machine transactions - A crypto whale bought $50M of Google stock in a single trade. Education incoming. - The headline for mission accomplished: net new inflows to tokenized products exceed off-chain launches 01:57 Franklin Templeton Tokenizing in 2019 03:37 Proving Blockchain Efficiency to the SEC 04:30 The Transfer Agent Advantage 05:55 How Ondo Tokenizes Stocks and ETFs 08:15 How Ondo’s Tokenization Relate 09:05 Why Permissionless Wrappers Unlock Global Capital Markets 10:48 The Real Reason Crypto Wants 24/7 Trading Access 12:02 Stablecoins vs Web2 Fintech: Why Blockchain Wins 13:05 Real-Time Settlement: The Death of T+2 14:22 Smart Contracts That Program Investor Protections 16:29 24/7 Markets Create More Demand 17:02 Why AI Agents Need Tokenization 18:04 $183 Trillion in AI Agent Transactions by 2030 19:01 Legacy Systems Can't Handle Machine-to-Machine Commerce 20:17 Tokenization: The Bridge to Institutional Crypto Allocations 21:04 Why TradFi Needs Crypto's Innovation Stack 22:02 Permissionless Wrappers: Why KYC Doesn't Scale for Agents 23:37 The Moment Franklin Templeton Decided to Partner with Ondo 25:14 Why Permissionless Tokens Scare Traditional Firms 27:29 100% of Franklin's Digital Assets Come From Crypto Natives 30:01 Opening Net New Distribution Channels, Not Just Products 33:20 Success Metrics: Assets, Thought Partnership, and Experimentation 35:07 Educating Crypto Natives on Diversification and ETFs 36:53 When $200M Bitcoin Holders Discover Traditional Assets 38:14 The Generational Shift: Crypto Natives Meet TradFi
Pantera Capital27,104 просмотров • 2 месяцев назад
"Bitcoin has been the best-performing asset in a generation and we've helped investors make billions with it. But it's pretty large now – a couple trillion. Solana is only 5% of the market cap of Bitcoin. We think it has more potential asymmetry, more possible upside. "It's currently our largest position – we have $1.1bn of Solana. We're helping our investors and the public markets get access to what we think is the most attractive asset right now." – Dan Morehead on Bloomberg Crypto Jimmy $HSDT
Pantera Capital70,074 просмотров • 9 месяцев назад
Sports books take 10% of every bet and ban winners. Novig founder and CEO Jacob Fortinsky joins our Stateful podcast, hosted by Mason Strom. In this episode, they discuss why prediction markets may replace the casino model in sports: - Sports books kick out profitable users. - 5% better odds on average vs. traditional platforms - CFTC shift: sports event contracts regulated as financial products nationwide - Be your own house: set your own odds, collect the spread - $2T global sports market with zero dominant exchange 00:17 The $75M Bet on Sports Prediction Markets 01:08 From StubHub Algorithms to Prediction Markets 02:21 Replacing the House: Peer-to-Peer Sports Betting 03:59 Do Sportsbooks Survive? 06:14 Be Your Own House: The Market Maker Model 08:35 How Novig Makes Money Without a Vig 10:23 Why Now? The Regulatory Shift Changing Everything 11:51 The Modern Sports Bettor: More Trader Than Fan 14:58 Prediction Market Regulation: Lawsuits, CFTC & Congress 17:45 Novig vs. DraftKings, Polymarket & Robinhood 20:18 Where Prediction Markets Go From Here 22:48 Quickfire: Favorite Sport to Bet On 24:37 Founder Advice: Stay Alive & Don't Chase Trends 26:22 Hiring for Culture Over Raw Talent
Pantera Capital25,422 просмотров • 2 месяцев назад
![Tom Lee (Thomas (Tom) Lee (not drummer) FundstratDirect.com) breaks down why BitMine chose ethereum as its treasury asset. "Treasury Secretary Bessent thinks it [stablecoins] could be a $2T market. From $200B today, that's 10 times growth. That's exponential. That would create exponential demand for Ethereum.”](https://image.24vids.com/tw-1943670582718890018/amplify_video_thumb/1943666287093092352/img/yBaeepZtldI84BVr.jpg)
Tom Lee (Thomas (Tom) Lee (not drummer) FundstratDirect.com) breaks down why BitMine chose ethereum as its treasury asset. "Treasury Secretary Bessent thinks it [stablecoins] could be a $2T market. From $200B today, that's 10 times growth. That's exponential. That would create exponential demand for Ethereum.”
Pantera Capital71,614 просмотров • 11 месяцев назад
$4 trillion is stuck in legacy payment rails. Cross-border FX is still broken. OpenFX is fixing it. Prabhakar Reddy CEO of OpenFX joins our Stateful podcast, hosted by Mason Nystrom. In this episode, they discuss the future of money movement: - Zero to $40B+ annualized TPV in 18 months, 99.99% automated, 3 people on trade ops - Stablecoins replace SWIFT: cross-border settlement in under 60 minutes, 24/7 - FX spreads compressed by 90-95% in every market OpenFX enters - Agentic payments timeline just collapsed from 7-10 years to 24-36 months - Spot FX could grow from $2 trillion to $200 trillion a day as the pipes widen 00:59 Why Cross-Border FX Is Still Broken in 2025 03:35 GBP to MXN in Minutes: How Open FX Works 07:14 $4 Trillion Stuck in Transit Right Now 07:44 Zero to $40B TPV in 18 Months 09:07 The 3 Factors Behind Open FX's Explosion 12:08 Payments Is Going Through a Complete Upheaval 14:55 AI Agents Won't Wait 3 Days for Money to Move 16:42 Open FX Is Building the AWS of Money 17:10 Do Fintech Moats Still Exist? 18:40 Moving $100B in Crypto vs. 5 Days for Wires 19:40 Why Crypto Companies Die Without Compliance 20:14 Culture Is Just the Founder's Personality Scaled 22:08 The World Order Is Changing 23:22 Agent Payments: From 10 Years Away to 24 Months 24:35 Where a Payments Insider Would Bet Today 25:47 Why There's No Universal Founder Advice
Pantera Capital16,818 просмотров • 2 месяцев назад
Wall Street is no longer exploring crypto — they’re building onchain. Franklin Bi joins senior leaders from Apollo, Nasdaq, and Morpho to discuss how TradFi and DeFi are converging to reshape global markets. Christine Moy $APO 💎🔥🦈 | Apollo Global Management, Inc. Paul Frambot 🦋 | Morpho Labs Jay Heller | Nasdaq Exchange 00:49 - “Law of Financial Physics” & Tokenization Gravity 08:00 - Presenting the Value Proposition of Tokenization 12:54 - NASDAQ Adopting Tokenization 17:28 - Protocol and Institutional Collaboration 22:53 - Morpho & Apollo: Parallel Financing Models 25:18 - DeFi Insurance & Just-In-Time Finance 26:46 - Institutional Hedging vs. DeFi Disruption 29:17 - Morpho v2: Institutional Credit & Term Markets
Pantera Capital42,401 просмотров • 7 месяцев назад
Why token launches fail: extractive pricing, poor liquidity, delayed price discovery. Austin Adams of Doppler joins our Stateful podcast, hosted by Mason Nystrom. In this episode, they discuss onchain capital markets and fixing token launches and IPOs: - 20% of 2025 token launches traded below issue price - Custom onchain markets: bundle price discovery and liquidity, launch in minutes - Coding moat is over. AI writes Solidity/Rust - Solo unicorns, micro-companies, permissionless experimentation 01:42 Custom Capital Markets Onchain 04:18 One Size Fits None: Why Token Launches Fail 07:26 Best Practices for TGEs 08:34 Deep Liquidity Pools vs. ICO Fundraising 10:23 Price Discovery: The Circle IPO Case Study 13:21 IPOs in the 70s vs. Today: What Changed? 16:57 On Chain Capital Formation: The Future of IPOs 20:29 Ethereum vs. Solana: Go Where Users Are 24:25 Context Is the New Moat: AI & Coding 27:59 What Asset Do You Wish Was Tokenized? 29:45 Founder Advice: One Good Thought a Month 31:21 Rethinking L2s & the Revenue Debate
Pantera Capital17,412 просмотров • 3 месяцев назад
New Stateful episode with Tulip King 🌷 and ⏢brianbreslow, hosted by Mason Nystrom. Bitcoin vs Gold: Why 2025 was different - Bitcoin's $2T wasn't ready for nation-state flows - Gold's $20T could absorb central bank diversification - Nations adopt Bitcoin last, not first 0:20 Stateful Overview 01:05 Bitcoin vs. Gold: 2025 Store of Value 03:57 Why Bitcoin Wasn’t Ready for BRICS 06:05 2026 Outlook: Catch-Up Trade or Continued Divergence? 09:19 Is the Four-Year Bitcoin Cycle Dead? 13:30 Bag Check: Bitcoin, Zcash, and Uranium 14:43 Uranium Thesis: AI Power Gaps & 2026 Contract Rollovers 17:27 Finding the “Amazon Bottom” in Altcoins 19:35 Private Money Power Law 22:30 Bearish or Bullish: Altcoins Are Dead Until Token Equity Is Resolved 31:01 Bearish or Bullish: Quantum Threatens Bitcoin 37:23 ⏢brianbreslow 2026 Trends and Predictions 41:24 Tulip King 🌷 2026 Trends and Predictions 44:03 A Fascist Economy in 2026? 48:14 Tether Flipping Ethereum 51:33 Resurgence of Hyperliquid & Equity Perps
Pantera Capital21,352 просмотров • 5 месяцев назад