After surveying our portfolio companies, talent acquisition remains a high priority for our portfolio companies. Investors can be helpful in the talent process by highlighting job openings, helping with matchmaking (referrals and acquisitions), and selling (education on the company, investment theses, and space).
After 9 years of investing in the blockchain industry and collecting over 200 portfolio companies, Pantera recently tapped into its breadth of portfolio companies across different stages and geographies to publish its bi-annual compensation survey.
Interesting to see that crypto engineerings salaries are on average higher than web2 engineers and that 87% of personnel are remote. The crypto industry seems to have adopted remote work a bit earlier than web2 due to need and creativity for talent.
Looking forward to more insights from the Pantera portfolio. Feel free to DM me if you have any other surveys you would like to see!
Paul Veradittakit
DISCLAIMER
Pantera Capital Puerto Rico Management, LP and its affiliates (“Pantera”) makes investments in crypto assets and in blockchain-related companies. Pantera and/or its affiliates or personnel may be an investor in, or have relationships or other business arrangements related to, certain instruments, companies and/or projects discussed herein. This document does not contain any advertisement for Pantera’s investment advisory services, or any other services or products, whether provided by Pantera or otherwise. The information and opinions presented in this document are solely those of Paul Veradittakit; they do not represent, and should not be interpreted as representative of, the views of Pantera or any other individual working for Pantera, and do not represent investment, legal, tax, financial, or any other form of, advice or recommendations. Neither Pantera nor Mr. Veradittakit is acting, or purports to act, as an investment adviser or in a fiduciary capacity with respect to any recipient of this paper. Information contained in this document is believed to be reliable, but no representation is made regarding such information’s fairness, correctness, accuracy, reasonableness or completeness. There is no obligation to update this document or to otherwise notify a reader if any matter stated statement or information contained here changes or subsequently is shown to be inaccurate. Nothing contained herein constitutes any representation or warranty as to future performance of any financial instrument or company. Forward-looking statements should not be relied upon, and performance or outcomes may differ materially from what is contemplated herein. Opinions included here incorporate subjective judgments or may be based on incomplete information. This document does not constitute or contain an offer to sell or a solicitation to buy any securities or a recommendation to enter into any transaction, and no reliance should be placed on this document in making investment decisions.
DIGESTS
Bankruptcy Judge Approves Subpoenas for Three Arrows Co-Founders
Liquidators can now subpoena “any recorded information, including books, documents, records, and papers” related to the hedge fund since 2012.
Two Technical Bitcoin Indicators Diverge; Each Has Value Depending on Investors' Timelines
The RSI indicates bitcoin is fairly valued and may be of greatest interest for traders seeking quick gains. The MVRV ratio implies prices are cheap and more pertinent for investors looking longer term.
BUSINESS
Spain Fan Token Tanks Following World Cup Loss
Sports tokens have taken off in popularity, if not in value.
GameStop Cuts More Staff—Including Crypto Wallet Engineers
Former employees say they were laid off from the gaming retail giant today, including engineers focused on its crypto efforts.'
Bitcoin Mining Difficulty Drops Most Since July 2021 as Crypto Winter Cuts Profitability
Bitcoin miners are being caught between rising costs and the lower price of bitcoin.
REGULATION
US Lawmakers Want State Department to Disclose Crypto Rewards
The State Department will have to report on payments it makes in crypto and their effects, according to a draft of the NDAA.
New FTX CEO Testimony ‘False,’ Bankman-Fried Says
The crypto exchange’s founder said documentation existed, despite John Ray bemoaning poor record-keeping.
IN THE TWEETS
NEW PRODUCTS AND HOT DEALS
Aave Companies Acquires Social Metaverse Developer Sonar
The acquisition will see Sonar integrate Aave’s Lens protocol to introduce decentralized account profiles for its social mobile metaverse app.
DJs Steve Aoki and 3LAU Form CryptoPunks Supergroup
Electronic musicians Aoki and Justin “3LAU” Blau will use their Ethereum NFTs as their alter egos to become Punx.
LETS MEET UP
Los Angeles, Dec 21 - Dec 30
PEER Summit, Salt Lake City, Jan 6-8
Walks and coffee meetings in San Francisco throughout the year!
ABOUT ME
Hi, I’m Paul Veradittakit, a Partner at Pantera Capital, one of the oldest and largest institutional investors focused on investing in blockchain companies and cryptocurrencies. I’ve been in the industry since 2014, and the firm invests in equity, early stage token projects, and liquid cryptocurrencies on exchanges. I focus on early-stage investments and share my thoughts on what’s going on in the industry in this weekly newsletter.
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