Pantera Capital
@PanteraCapital • 225,451 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 Capital255,504 просмотров • 4 месяцев назад
Open-source AI is catching up to proprietary frontier models, but the hardware needed to run them are gatekept. B3 is launching B3IQ so anyone can own their own intelligence. daryl and Viktoriya (B3) and Yorke Ξ Rhodes III 🟧 🇺🇦 (Microsoft/NYU) join Stateful, hosted by Franklin Bi In this episode, they discuss why owning your compute is the next unlock for open source AI: - Frontier labs have locked up hyperscaler capacity through 2030. Everyone else is out of line. - NYU students researching human trafficking and war zone evacuations get account-banned by closed models - Two years of renting an H200 node costs the same as buying it. Rent-to-own drops the entry cost to 30%. - Kimi K3 matches frontier performance on some coding tasks. You just need two H200 nodes to run it. - Idle compute gets matched with offtake, so the machine pays for itself 05:28 Content Filters and Token Limits at NYU 11:02 The Hyperscaler Long Tail Problem 16:16 Why Frontier Labs Locked In Their Model Gains 18:19 How the B3IQ Financing Model Works 20:10 The iPhone Moment for Compute 29:27 Why Own the Box When Neo Clouds Exist? 40:24 The Five-Year Vision
Pantera Capital34,342 просмотров • 1 месяц 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 Capital149,391 просмотров • 6 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 Capital153,529 просмотров • 10 месяцев назад
Hyperliquid and Polymarket dominate in the West. In Asia, there is no equivalent. TurboFlow is building it. Tony (TurboFlow) joins Stateful, hosted by Mason Nystrom. In this episode, they discuss why Asia has been missing a world-class trading platform and how TurboFlow is building it: - Asian traders operate in communities, not alone. That changes everything about product design. - Prediction markets beat perps for retail: click yes or no on anything. No margin knowledge needed. - $9 trillion in perps volume in 2025. Still only 75K to 200K daily active traders on-chain. - Bear markets are for building. Competitors go to sleep. You lay the foundation. - 18-month goal: dominate Asian prediction markets and expand to 50 assets including RWAs and FX. 00:00 Why Asia Has No Hyperliquid or Polymarket 01:56 The Perps Market Today: $9 Trillion, Only 200K Daily Traders 06:07 Why Prediction Markets Beat Perps for Retail 11:18 What Actually Matters When Building a Trading Platform 14:45 Lessons from Co-Founding Amber Group 18:46 Quick Fire: Bear Market Timing, 18-Month Roadmap
Pantera Capital37,887 просмотров • 2 месяцев назад
An agent can plan and sequence a multi-step task and stall at a signup form. Orthogonal (YC W26) replaces account creation, API keys, and billing with one integration. Christian Pickett and Bera Sogut (Orthogonal) join Stateful, hosted by Mason Nystrom. In this episode, they discuss the infrastructure needed for the agent economy: - One API to access dozens of verified providers - Agents discover, call, and pay per use in cents — no accounts, no keys, no subscriptions - Micropayments that actually work with automatic spend tracking and human-set policies - Supporting all major agentic payment standards (X402, MPP, etc.)
Pantera Capital23,636 просмотров • 1 месяц 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 Capital141,316 просмотров • 1 год назад
Perps are a better derivative. Prediction markets are a better product than sportsbooks. Americans can't access either onchain. That's the problem Jake Chervinsky (Hyperliquid Policy Center) is in Washington to fix. Jake Chervinsky, the CEO of Hyperliquid Policy Center, joins Mason Nystrom on Stateful to break down the current state of blockchain regulation in the U.S. In this episode, they cover: - The CLARITY Act: 90-95% done, August recess is the do-or-die deadline, and two sticking points remain. - The CFTC's crawl-walk-run path to regulated on-chain perps in the U.S. - CME sued the CFTC to block perp trading. Jake thinks they have the wrong side of the law. - Vegas doesn't want to lose its sports betting monopoly to prediction markets. The CFTC disagrees. - Tokens are for onchain value. Equity is for offchain value. Pick one. 00:00 Why Jake Joined the Hyperliquid Policy Center 04:57 The Path to Regulated On-Chain Perps in the U.S. 17:03 CME Sues the CFTC to Block Perp Trading 21:02 Prediction Markets vs Vegas: The CFTC Battle 26:29 The CLARITY Act: Status, Sticking Points, and the August Deadline
Pantera Capital27,966 просмотров • 2 месяцев назад
AI will not reach its full potential without crypto. Blockchain enables identity for agents and allows them to hold wallets, use stablecoins, and execute transactions on-chain. As more assets move on-chain than off-chain, agents that can act across the entire digital asset landscape become dramatically more powerful. At the same time, AI will strengthen crypto through better security, wealth management, and trading insights. Fintech, AI, and crypto form the key triangle we’re focused on. paul.nft OnchainCapital_ Sean Lee
Pantera Capital18,378 просмотров • 1 месяц 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 Capital41,709 просмотров • 3 месяцев назад
Korea leads the world in the rate of AI adoption growth. Blockchain is next. Steve and Heechang Kang (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 Capital35,875 просмотров • 3 месяцев 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 Capital111,507 просмотров • 1 год назад
“AI Agents will choose the fastest, cheapest, most frictionless rails." Cosmo Jiang sat down with CoinDesk this morning to share how Pantera views the current market: - How AI agents accelerate blockchain adoption - Is the $BTC 4-year cycle still accurate? - The setup for an onchain rebound into Q4 - Building a fundamentals index with S&P Dow Jones Indices
Pantera Capital12,640 просмотров • 1 месяц назад
A stablecoin proves itself through the scale it reaches and the services it enables. Anthony Soohoo (MoneyGram) and Luca Prosperi (M0) join Stateful, hosted by Mason Nystrom. In this episode, they discuss the future of money creation and movement: - MoneyGram built its own stablecoin MGUSD for 60 million active customers. Not for trading or institutions. - M0 is building the modular stablecoin infrastructure that powers several stablecoins including MoneyGram, KAST, and MetaMask - MoneyGram verticalized its own stablecoin instead of integrating USDT or USDC, controlling the economics and passing savings to customers, the same logic behind Apple building its own chips. - Stablecoin supply: $500B by 2027, $1 trillion by 2030 03:30 Why MoneyGram Launched MGUSD 06:00 How M0 Powers Stablecoin Infrastructure 08:00 Why MoneyGram Built Its Own Stablecoin Instead of Using USDC 11:30 Distribution Wins: The Real Stablecoin Differentiator 17:00 Having a Stablecoin Is Not Enough: Build on Top of It 18:00 How AI and Stablecoins Are Compressing Revenue Moats 24:00 MoneyGram Becoming an Open Network: The Kraken Partnership 27:30 Quick Fire: Stablecoin Supply Predictions for 2027 and 2030
Pantera Capital22,306 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 Capital70,313 просмотров • 1 год 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 Capital33,346 просмотров • 5 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 Capital71,626 просмотров • 1 год 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 • 5 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 Capital24,982 просмотров • 5 месяцев назад
