Coinbase

“If you are the kind of person to do that, you're the type of person that builds Coinbase, which is, as an example, which is most recently, the values I've seen in the private markets are seventy billion dollars, right?”

“They have an agency desk, meaning I was able to interact with their institutional trading desk. They don't have a proprietary trading desk. They don't take principal risk”

“Coinbase was an angel investment of mine back in 2012.”

“So as an example of a bet that we have on right now, we've created baskets based entirely on accessibility. So we have a basket of Coinbase coins, a basket of Binance coins, a basket of Korean and Japanese retail coins, where it's the assets that are easiest f…”

“Braintrust is a great example. Super, super interesting company. My fund invested a little bit in it. When they listed on Coinbase about a month ago, they shot up to about an 11 and a half billion dollar market cap. And this is a real company. They've got tens…”

“Well, it turns out they invested in Coinbase and made eleven billion dollars on it.”

“Pax is effectively makes everybody Coinbase. They've got the fully regulated white labeled infrastructure, so any entity can be Coinbase.”

“So we don't have any dedicated crypto funds, but we have a couple, not all, but a couple of venture managers who were early investors in Coinbase.”

“So if you create some sort of system And you're going through that type of growth. That system, 90 days later, is probably going to no longer be working. So if you spend a month trying to refine every system you have, it's never going to work.”

“The bank said that they were going to take away our bank account if we couldn't get the fraud rate down in 30 days.”

“Get a passing grade on everything instead of trying to get an A-plus in any particular category, and you have to be very comfortable with just chaos.”

“I think one thing that we screwed up a bit at Coinbase is throughout 2014, 2015, we tried to launch all these new products. We were launching like a tip button that you could embed and tip people on Reddit. We were very focused on merchant integrations for peo…”

“So Coinbase, as an example, I was on the board and we invested in but they did 15 rounds of financing before they went public and we invested in every single one of them.”

“In fact, our cryptocurrency is more liquid than some stocks, and so people will earn some of it, maybe they'll earn 10,000 dollars by staking on Numurai, and then they'll go to Coinbase and sell it into dollars, or they'll keep staking it on their model.”

“Coinbase did this well early on. They always ran things at a four-year runway, and if you look at it, that was very, very smart.”

“We built out a crypto asset manager. Coinbase acquired that about a year and a half ago, which I saw that as a once in a lifetime opportunity. So I actually run two firms right now.”

“Polymarket.com in November was one of the hundred most popular websites in the world. Had about two X the website traffic as Coinbase.com.”