I created this landscape (see below) to provide a better understanding of the list of participants and their place in the ecosystem. PLEASE LET ME KNOW IF YOU HAVE ANY COMMENTS / FEEDBACK.
Imagine you are USV, you have invested into Polychain Capital which invests through an exchange directly or via a market maker into protocols.
A recent example of this sudden interest was when some high school friends asked me on Facebook if they should buy some Bitcoins — doesn’t it remind you of the Bitcoin spike in 2013?
Like most people I read about Polychain, a crypto hedge fund started by Olaf Carlson-Wee (former Coinbase).
However, I was surprised to find a long list of market participants in this new asset class.
This was one of the first times that VCs invested into a hedge fund. Most of them started by investing in Bitcoin and then expanded into altcoins recently.
Some of them with the most innovative approach to investing are Polychain Capital and Mestable.