Bits + Bips: Why It's Time for Crypto Traders to Be Patient - Ep. 782
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I think it's a good time to be patient, to be honest. That's my main thought. It's, on one hand, we have very, very good charts, and and and assets in demand on Bitcoin and so we have altcoins that are completely absolutely demolished with very poor sentiment and negative positioning. And at the same time, it's like we're missing the trigger. Right? Or for for get it going. And, ALS are so illiquid and, like, everybody's concerned about ALS. That's the truth. It's what defines sentiment here. So we we have to talk about it even though we're not very big on ALS is, they're they're they're missi
Hi, everyone. Welcome to Bits and Bips, exploring how crypto and macro collide one basis point at a time. I'm your host, James Safer, TradFi archmaester, lord of Bloomberg's end, here with Ram Aluwalia, Maester of Wealth, leader of Lumida. How's
it going?
Today, we're also joined by Sal Turnullo, first counsel of the venture court at a one hundred x ventures. We're here to discuss the latest stories in the worlds of crypto and macro. Just remember that nothing we say here is investment advice. Please check unchainedcrypto.com/bipsandbips for more disclosures.
Did you know Somnia processes over 400,000 transactions per second with sub second finality and sub cent fees? Somnia is built to bring reactive mass consumer apps like gaming and socialfy fully on chain. Learn more at somnia.network. Matt Hogan, CIO of Bitwise, writes a weekly five minute memo on the biggest stories about the crypto market. Check it out at bitwiseinvestments.com/ci0memo.
We might also be joined by Alex Krueger, but we'll find out in a minute. But before we dive in, Sal, why don't you, give us the spiel on who you are and what you do and why you're relevant to the industry, and then we can dive into the topics. Cool.
I will, keep it brief and and spare you guys the long winded intro. But my name is Sal Trenello, a managing partner at a one hundred x ventures alongside Nisa and Moelz who founded the firm. Been in crypto my entire adult life as a finance and accounting background. Started off in the institutional side at State Street in an emerging technologies role, and then subsequently built KPMG's advisory business in The US focused on institutionalizing crypto as an asset class. And then twenty one went to the buy side and helped to manage an early stage fund that invested across six layer one ecosystem
Alright. Real quick. What what were those six layer one infrastructure plays that you invested in? Can you share that?
Yeah. Of course. We were in Ethereum, Polkadot, NEAR, ICP, Flow, and Luxo. So we missed on Avalanche and Solana primarily, stayed away from Cosmos for fragmentation, but we've been quite close to those six layer one ecosystems and now are much closer to Avalanche as well. Alright.
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