Sequoia is ready to bet even bigger on crypto

Plus, Charlie Munger is ngmi

Inside.com Part of   Network February 17, 2022

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Charlie Munger, the famed co-founder of Berkshire Hathaway, claims to be proud to have never invested in crypto, calling it a “venereal disease.” Munger’s dislike for crypto stems from its supposed usefulness in illicit activity. More: Munger stated that crypto is useful for things like kidnappings and tax evasion. He said that he admires the Chinese for banning it. Elon Musk chimed I’m on the conversation regarding Munger's comments.

Sequoia Capital is launching a $500M-$600M fund to invest into token deals. This marks Sequoia' 's first ever sector-specific fund since the firm's founding in 1972. More: Sequoia plans to actively manage its token portfolio through staking, providing liquidity, and participating in governance. Sequoia will continue to invest in crypto equity deals through its seed, venture, and growth funds. Crypto made up 20% of the firm's new investments in 2021. Sequoia partner Michelle Bailhe commented that it is still "day one for crypto," while fellow partner Shaun Maguire referred to crypto as "the biggest mega trend in the next 20 to 30 years."

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Twitter has given users the option to receive tips in Ethereum. This adds to the slew of crypto integration the platform has added in the last few months. More: Twitter enabled NFT profile pictures in January and Bitcoin tipping in September. While Twitter leverages Strike to handle its Bitcoin tipping, it is unclear what third party, if any, processes its ETH transactions. The integration does not currently support ENS domains.

Criminal activity represented just 0.15% of crypto transaction volume in 2021. The nefarious crypto transactions still hit an all-time high of $14B last year. More: Chainalysis revealed that Illicit transaction volume increased 79% YoY while total crypto volume surged 567%. $33B worth of cryptocurrency has been laundered since 2017. DeFi laundering increased 1,964% in 2021.

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Web3 Tweet: DAOs and the organization of human machines.

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UPCOMING EVENTS February 22 - The Future of Tax & Accounting for Crypto, DeFi, & NFTs is here. Are you ready? (Register Here) * February 22 - Venturing in VC - Episode #7 with Roy Bahat (Bloomberg Beta) (Register Here) February 23 - Need to Know NoCoder: Derya Sousa (Kianda Technologies) (Register Here) February 24 - Alternative Investments (Register Here) February 24 - Conversational AI in eCommerce with Flipkart (Register Here) * February 28 - Inside Investment DAOs with Global Coin Research (Register Here) March 10 - NoCode's Impact on the Gig Economy (Register Here) March 23 - Need to Know NoCoder: Nichole Bestman (Bubble) (Register Here) March 31 - How To Build In Web 3.0 (Register Here) April 07 - Blockchain and the Law (Register Here) April 14 - Shopping In The Metaverse (Register Here) *This is a sponsored listing.

Trevor Grant is an entrepreneur, investor, and writer based out of Chicago, Illinois. His primary area of interest is web3 venture capital, social tokens, and infrastructure. Other pursuits include screenwriting, yoga, and traveling. He holds a BS in biomedical engineering.   Connect with him on Twitter @trevorisonline Editor Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford.

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