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Polychain, which is widely considered the largest crypto hedge fund, has announced it is getting into traditional equity. Firm founder Olaf Carlson-Wee notes that he is "skeptical" of startups that create non-native tokens for financing purposes.
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On the recent pricing collapse of Bitcoin and other cryptocurrencies: "This asset class has always been incredibly volatile. It's grown in bits and starts, with very rapid increases and then bear markets... When I launched Polychain Capital I was prepared for this."
https://www.axios.com/newsletters/axios-pro-rata-e8843381-b1cf-4f91-a2c5-6b23c5998190.html
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