Pantera CEO: This crypto winter is different than any we've seen before

In a recent "Unconfirmed" podcast episode with former Forbes' journalist Laura Shin, Dan Morehead, CEO at Pantera Capital, said that the ongoing crypto bear market has proven less worrisome than previous price plunges. 

"I would admit that in the previous crypto winter [of 2014-2015], I had more of a worry in the pit of my stomach. Was blockchain really going to work? Would it succumb to some of the real obvious regulatory risks that existed at that time? Today, the underlying fundamentals are much, much stronger."

The investment firm recently announced that it had already raised $125 million for its third crypto fund, hoping to close at $175 million.

Morehead added: 

"In 2018, they did $19 billion of ICOs and only $4 billion of venture. I think 2019 is going to be the opposite: venture is going to be much bigger than ICOs. Now the pendulum swung back to venture."

[related id="1"] To find out more out Pantera's investment portfolio so far, click here for The Block's in-depth overview. 

About Author

Isabel is The Block's London and European reporter. She previously reported for Reuters in Madrid and London, following on from her time as a freelance journalist for the Guardian and the New York Times. She has a Bachelors in War Studies from King’s College London and a Master of Philosophy from the University of Oxford. Conflict of Interest: Edward Woodford, the CEO of SeedCX, is Isabel's brother. She does not report on any issues related to Seed or advise other authors in any regard.