The Chopping Block: VC Tokens, Memecoins & Celebs, and Seasonal Patterns - Ep. 663

Jun 19, 2024

Dive into the wild world of celebrity-endorsed memecoins, exploring stars like Iggy Azalea and Waka Flocka Flame. Discover the seasonal patterns in crypto trading and how past market cycles influence current strategies. The discussion also highlights the contentious role of venture capital in shaping market dynamics. Is it helpful or harmful? Finally, reflect on the complex relationship between social media opinions and investment trends in this rapidly changing landscape.

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INSIGHT

Summer Seasonality

Crypto markets show seasonality, with summers typically performing poorly.
This might be due to retail investors selling during summer, but this pattern might change.

ANECDOTE

French Lunch Volatility

Haseeb Qureshi mentions a story about seasonality in equities, specifically a French stock market lunchtime phenomenon.
Renaissance Technologies profited from this by shorting volatility during lunch.

INSIGHT

Celebrity Meme Coin Meta

More celebrities are launching meme coins to monetize their fame.
This raises questions about responsible celebrity involvement in crypto.

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Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Robert Leshner, and Tarun Chitra explore the latest trends in the crypto world. In this episode, we dive into the impact of celebrity-endorsed memecoins, featuring discussions around Iggy Azalea's 'Mother' token, Waka Flocka Flame's 'Flocka' token, and other celebrities. We debate the broader implications of these phenomena on the crypto market, address criticisms of venture capital's role in crypto, and explore the seasonal nature of crypto trading. Tune in for an in-depth look at how pop culture intersects with cryptocurrency, shaping current market sentiment.

Show highlights

🔹 Seasonality in Crypto: Exploration of the historical seasonal trends in crypto markets and their implications.

🔹 Memecoins & Celebrities: Insightful discussion on the rise of celebrity-launched memecoins and their impact on the crypto world.

🔹 Market Cycles: Exploration of the different phases in market cycles and their effects on asset creation and liquidation.

🔹 VC Funding in Crypto: Examination of the role of venture capital in the crypto ecosystem and its impact on market dynamics.

🔹 VC vs. Liquid Funds: Debate on whether venture capital funds are beneficial or detrimental to the crypto markets.

🔹 Institutional and Retail Adoption: The importance of growing crypto usage among both institutions and retail investors.

Hosts

⭐️Haseeb Qureshi, Managing Partner at Dragonfly

⭐️Tom Schmidt, General Partner at Dragonfly

⭐️Robert Leshner, CEO & Co-founder of Superstate

⭐️Tarun Chitra, Managing Partner at Robot Ventures

Disclosures

Timestamps

00:00 Intro
01:58 Market Sentiment
07:34 Celebrity Involvement in Crypto
16:00 Celebrity Coins vs Endorsements
25:24 Influencer Economy and Social Tokens
27:41 Legibility and Value of Memecoins
28:37 Crypto Influencers
31:07 VCs vs. Retail
36:50 Future of Crypto Markets
43:53 Institutional vs. Retail Adoption
50:45 Taking on Populist Takes

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