

Haseeb and Gwart, Round II (With Tarun Chitra)
4 snips Apr 27, 2025
Haseeb, a seasoned crypto VC, teams up with Tarun Chitra for a lively debate on the true value of tokens and the role of venture capital in crypto. They tackle pressing questions about whether tokens are sustainable investments and if VCs bring genuine signal value. The conversation gets spicy as they examine market dynamics, the contrast between Bitcoin and altcoins, and the challenges facing governance tokens. With Tarun moderating, the tension between optimism and skepticism in the crypto world becomes palpable.
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Token Liquidity Defines Value
- Tokens must be liquid and tradable to have value. - Pre-token launch agreements are just contracts, not true tokens.
Token Launches Are Pro-Cyclical
- Tokens mostly launched in 2021-2022 bull market cluster and suffer pro-cyclicality. - Equal-weighted token portfolios generally underperform market cap weighted indices.
Crypto Tokens Tie to Macro Risks
- Crypto token prices are sensitive to macro environment and risk conditions. - High interest rates and dim macro outlook hurt crypto more than Bitcoin alone.