Everything Zach Abrams said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Bridge grew 20% to 50% month-over-month leading up to its acquisition
“I mean, we were probably pretty consistently growing somewhere between
20 and 50% a month.”
Abrams believed Bridge was unacquirable due to extreme internal stablecoin optimism
“We were, I actually thought that we were unacquirable as a company, because, mostly because we were working in a frontier space, and our belief of how big this space could be has, like, consistently been way more optimistic than everyone else's belief.”
The Stripe acquisition announcement actively accelerated Bridge's developer growth
“It's meaningfully accelerated the rate at which we've been, like, Acquiring developers and they've been launching and scaling and so on, which has been super exciting to see.”
Abrams: Bridge originally planned to facilitate NFT purchases via bank accounts
“The first idea we had was using your bank account to acquire NFTs.”
Bridge took 18 hours to disburse tens of thousands of aid payments
“First time we did an aid payment disbursement, we were working with the US government to disperse aid payments into LATAM. We were sending tens of thousands of payments, which was like a lot for us. It's not that much for Stripe. It took us like 18 hours to se…”
Abrams: Joining Stripe gives Bridge's issuance platform a different customer base
“I mean, there's just a lot of things like our stablecoin issuance platform that we just launched, an amazing opportunity. We could launch that as an independent business, but it is a very different opportunity, a very different set of customers that are intere…”
Bridge originally launched as an NFT checkout product
“The segment that we originally launched into, which was like buying, buying like NFTs and stuff like that is what we kind of originally were like, you take your bank account, you convert the funds in your bank account and stable coins, you then use a stable co…”
Bridge pivoted its initial seed idea after just one month
“We raised in April, so we closed the route in April. And then we pivoted in May. So that's how long idea one lasted.”
Abrams told seed investors Bridge was pivoting without a backup plan
“I actually reached out maybe in, like, late May to one of our investors And I was like, hey, this idea that we raise money on. And I was like, not, I was so stressed. I was like, not sleeping because, you know, it was like these people invest all this money in…”
FTX had obscure APIs that easily converted between stablecoins
“When we were first building the product, FTX had a bunch of APIs that nobody really knew about, but we kind of discovered that made it easy to convert between stable coins.”
Signing Bitso in mid-2023 became a major inflection point for Bridge
“And then we, like, maybe in, like, June or something, we ended up signing Bitso, which is the largest exchange in LATAM, and then Bitso became, like, kind of like a big enterprise customer for us, and we started You know, we launched with them in September and…”
Bridge was founded just before the Terra and FTX collapses
“20, 20, 23 is when we launched our APIs. 2022 is when we start, Sean and I started the company. And raised money, and then immediately after we raised money, Terra Luna happened, and then the whole space was nuked, and then FTX happened, and it was nuked again…”
Abrams: Bridge launched the week SVB collapsed
“That was the first week we launched.”
Burnout from Square, Coinbase, and Brex prompted Abrams's departure
“Ultimately, I think there's, like, a lot of reason, a lot of, like, micro reasons why, why I left, but the, but sort of, like, now as I reflect on it, I just burnt out. Like, I had, we had basically, we started this company, Sean and I started a company in, li…”