Tushar Jain
@tushar_jain
Cofounder and Managing Partner @Multicoin
Opinions are my own / Not a solicitation / Not an offer for investment advisory services
1.2K Following 54.7K Followers
We look forward to using $Zama confidential RFQs and believe this product will be a fundamental part of the future of DeFi.
As trading of equities, bonds, FX, commodities, etc all move on chain, large traders will use privacy protocols like Zama to protect their trades.
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We are excited to make our first venture investment into the Hyperliquid ecosystem with Trasia, an Asia focused trading platform. Trasia is targeting net new users who have never heard of Hyperliquid and plans to launch perps for Asian equities.
Read more from Mable here:
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1/ Multicoin published a full analysis & valuation of Hyperliquid (HYPE).
HYPE is now one of the largest positions in our liquid hedge fund. We've been accumulating aggressively since February.
Here's why we believe HYPE will be one of the best performers over the next cycle:
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At 10:30 ET, the Banking Committee will mark up its portion of CLARITY. Bipartisan negotiation maintained the core growth drivers & the BRCA, while addressing consumer and investor protection priorities of both caucuses. We strongly advocate advancing the bill with a Yes vote.
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Solana the chain is neutral. But the Solana Foundation should not be neutral. All teams building on Solana don’t deserve equal attention from the Foundation, some teams are better than others and some markets are more important than others. Foundation should put its finite resources behind the teams that have the best chance of helping Solana succeed.
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Bitcoin's lack of privacy is a major headwind to its utility as a SoV/safe haven
While Bitcoin gets a lot of attention, it hasn’t played the safe-haven role many expected. In my view, there are a few reasons why.
First, Bitcoin lacks privacy. Transactions can be monitored and potentially controlled, which is why central banks aren’t looking to hold it.
Second, it also has a high correlation with tech stocks. When investors get squeezed in other areas of their portfolio, they sell their Bitcoin to cover it.
Third, it’s a relatively small and controllable market, whereas gold stands alone. There is only one gold.
Ultimately, gold is more widely held, deeply established, and still plays a central role in the global system.
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Most people would rather be consistent than correct.
Jito is moving up the stack and building their own trading platform. Given the quality of this team's execution and the level of resources they have, I expect JTX to become the main trading platform on Solana.
Sign up for the waitlist at
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1/ Multicoin has built a significant position in $ZEC since February.
Zcash is a return to the cypherpunk ideals crypto was founded on.
We are incredibly proud to welcome @multicoin as a Headline Partner for HYPE Miami! 🏛️
Founded in 2017, Multicoin Capital is a thesis-driven investment firm that partners with crypto founders reshaping trillion-dollar markets. The firm is currently deploying out of its third venture fund and is actively exploring the Hyperliquid ecosystem. Founders building the next great financial product or primitive are encouraged to reach out to Spencer Applebaum or Shayon Sengupta, Co-Heads of Venture.
See you on May 6.
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Our GC @xethalis sat down with @ChairmanSelig at @TheBitcoinConf. The Chairman is a pragmatic and principled leader. I look forward to working as a member of his Innovation Advisory Council and seeing what he accomplishes to move the industry forward.
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Today we’re announcing our $5 million seed round, led by @Multicoin
This funding directly supports Exponent’s next phase: becoming the premier platform for onchain portfolio construction
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Multicoin joined @BlockchainAssn and @crypto_council and more than 100 industry participants in asking the Senate Banking Committee to advance a markup on CLARITY. After a decade of work, the time is now for Market Structure.
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1/ Today, @BlockchainAssn and @crypto_council, joined by a broad coalition of more than 120 organizations from across the digital asset ecosystem, urged the Senate Banking Committee to move forward with a markup on market structure legislation.
Years of bipartisan work have brought Congress to an important moment. The U.S. needs clear, durable rules that protect consumers, provide certainty, and reinforce American leadership in digital asset innovation.
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0/ DeFi needs circuit breakers and other safety mechanisms which slow down large transactions and provide time for reaction. Borrow lend protocols should not allow a new user to show up with a $300M position and take out a loan against it immediately. Some ideas:
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We’re on the precipice and the text is just about buttoned up. Time to mark up and pass CLARITY.
Yesterday there were some threads on how long Market Structure has been worked on. If you’re in industry or at a law firm working on behalf of clients, it’s your dedicated work. But there are cohorts of staffers (mostly still on the Hill) who have been working on this stuff for the better part of a decade because they have a passion for it and care.
HFSC/Banking and Ag (across different gavel control), and individual offices (both sides of the aisle). This has been a labor of love for them and they have spent enormous time trying to understand these markets and craft reasonable laws to allow for rational regulation.
It is time to pass CLARITY. This is their hard work, their legacy. Get it done.
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Circle has chosen the worst of both the centralized and decentralized worlds with this policy. Circle can freeze your USDC at any time, but won't use this power to defend its users from obvious hacks.
USDC gives users the downsides of centralization without any of the benefits.
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Recent events are a reminder that trust in digital assets depends on security, accountability, and the rule of law across the ecosystem.
Circle is a regulated company that complies with sanctions, law enforcement orders, and court-mandated requirements. We freeze assets when legally required, with strong protections for user rights and privacy.
More here:
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This is the bull case for private crypto.
France is passing a law forcing anyone who holds more than €5k euros in a crypto wallet to declare it to the tax authorities . This is the same government that had an IRS agent SELL the data of people who declared crypto to criminals, who then went on to kidnap their families and cut fingers off.
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