#74 Pantera Capital: Building the World's First Crypto Hedge Fund and Growing to $6B in AUM | Joey Krug, Co-Chief Investment Officer

In Episode #74, we explore building the world's first crypto hedge fund and growing to $6B in AUM. We’re joined by Joey Krug, Co-Chief Investment Officer of Pantera Capital. We cover lessons from investing in volatile markets, DeFi and the future of prediction markets, and branding in crypto. “When you're investing and you have a position that you think you have conviction in, where you think it's very high odds that you're right, take a big swing at it.” – Joey Krug EPISODE GUIDE (LINKS, QUOTES, NOTES, AND BOOKS MENTIONED) https://www.danielscrivner.com/notes/building-6b-hedge-fund-crypto-pantera-capital-joey-krug-ig-show-notes  FULL TEXT TRANSCRIPT https://www.danielscrivner.com/notes/building-6b-hedge-fund-crypto-pantera-capital-joey-krug-ig-transcript  CHAPTERS This episode is our definitive guide to building the world's first crypto hedge fund. In it we cover: (00:00:00) – Introduction (00:02:35) – Joey's daily work at Pantera, Augur, and Eco (00:04:35) – Joey's start in mining Bitcoin (00:09:28) – Joining Pantera and investing (00:17:18) – Lessons learned as an investor in volatile markets (00:20:13) – Pantera's active trading and early stage venture bets (00:23:41) – Perspectives on risk (00:29:24) – On scaling Ethereum (00:31:10) – DeFi and the future of prediction markets (00:35:35) – A peek into Eco (00:37:29) – Branding in crypto (00:41:20) – Technical analysis in trading ABOUT PANTERA CAPITAL Pantera Capital was founded by Dan Morehead in 2013 and became the first institutional investment manager in the Crypto space. Today, Pantera has amassed over $6 billion in capital, alongside absolutely eye-popping returns. Pantera invests in new Crypto, DeFi and Web 3 protocols and projects, and they also manage a liquid more mature Crypto portfolio. They live in a very interesting position within the space. As the co-founder of multiple high-profile projects, as well as the co-CIO of over $6 billion in assets. For more on Pantera, visit panteracapital.com. I also highly recommend subscribing to their monthly newsletter where they share their commentary and thoughts on the broader Crypto market. I've been a subscriber for years, and I've always really enjoyed reading through it. 💌 FREE NEWSLETTER https://www.outlieracademy.com/newsletter 🎙 LISTEN ON iTunes: https://podcasts.apple.com/us/podcast/outlier-academy/id1523851182 Spotify: https://open.spotify.com/show/58edVNgqaPNaCSGSxM6pef?si=88f37a5d20434775 Overcast: https://overcast.fm/itunes1523851182 ABOUT OUTLIER ACADEMY Learn timeless lessons on work and life from iconic founders, world-renown investors, and bestselling authors. Outlier Academy is the forever school for those chasing greatness. Past guests include Gokul Rajaram of DoorDash, Scott Belsky of Benchmark and Adobe, Joey Krug of Pantera Capital, Mark Sisson of Primal Kitchen, Luke Gromen of The Forest for the Trees, and Brian Scudamore of 1-800-GOT-JUNK. Website: https://www.outlieracademy.com Twitter: https://www.twitter.com/outlieracademy ABOUT DANIEL SCRIVNER Outlier Academy is hosted by Daniel Scrivner. Over the last 15 years, Daniel has led design teams at Square and Apple, turned around a $3M+ ARR SaaS business, and invested in more than 100 companies. He launched Outlier Academy in 2020 to learn from the world’s best founders, investors, authors, and peak performance experts. Website: https://www.danielscrivner.com Twitter: https://www.twitter.com/danielscrivner Learn more about your ad choices. Visit megaphone.fm/adchoices