Transparency update: We have periodically released public thoughts about select investments at @arca.
In the spirit of improving #transparency in this asset class, here is an update on these positions, and Arca's current involvement
$HXRO $CHZ $WNXM $EOS $SUSHI $LEO $GNO
In the spirit of improving #transparency in this asset class, here is an update on these positions, and Arca's current involvement
$HXRO $CHZ $WNXM $EOS $SUSHI $LEO $GNO
1) $SUSHI
We loved it at $18.; we love it even more at $9. We have been large buyers over the past month, tripling our position with buys between $6 and $13, & we'll keep buying at depressed levels. We believe this is the cheapest asset in the market.
We loved it at $18.; we love it even more at $9. We have been large buyers over the past month, tripling our position with buys between $6 and $13, & we'll keep buying at depressed levels. We believe this is the cheapest asset in the market.
https://twitter.com/jdorman81/status/1393243213905887232?s=20
2) $WNXM / $NXM
We have not sold any -- and continue to add. At 1.07x book value, WNXM is basically a free call option on Nexus' growth, which we think will be massive. There's a reason 3 Wall Street firms have written on Nexus recently - it works.
We have not sold any -- and continue to add. At 1.07x book value, WNXM is basically a free call option on Nexus' growth, which we think will be massive. There's a reason 3 Wall Street firms have written on Nexus recently - it works.
https://twitter.com/jdorman81/status/1376920737949184002?s=20
3) $HXRO
We've been invested since 2019, and have made a few small sales, but 85% of our gains are still unrealized & our position size is larger today (in both absolute dollars and as a % of our fund) than it was last year. The team is executing.
We've been invested since 2019, and have made a few small sales, but 85% of our gains are still unrealized & our position size is larger today (in both absolute dollars and as a % of our fund) than it was last year. The team is executing.
https://twitter.com/jdorman81/status/1321446526057525252
4) $EOS
We owned a small position, but sold most of it during the unnatural April run-up of legacy tokens. The thesis is still in tact - it will just take a lot of work to extract it, and we won't build a large position until we commit to doing so.
We owned a small position, but sold most of it during the unnatural April run-up of legacy tokens. The thesis is still in tact - it will just take a lot of work to extract it, and we won't build a large position until we commit to doing so.
https://twitter.com/jdorman81/status/1349801329149964288?s=20
5) $GNO
We are no longer investors in GNO. While Gnosis went through the motions turning GNO into an asset-backed token via the DAO, they never actually contributed the assets, & governance has been ineffective because the team controls the votes.
We are no longer investors in GNO. While Gnosis went through the motions turning GNO into an asset-backed token via the DAO, they never actually contributed the assets, & governance has been ineffective because the team controls the votes.
https://twitter.com/jdorman81/status/1341430788819091456?s=20
6) $LEO
We continue to hold a small investment --- just in case we're right (very asymmetric upside if we are)
We continue to hold a small investment --- just in case we're right (very asymmetric upside if we are)
https://twitter.com/jdorman81/status/1382767802864455680
7) $CHZ
We sold ~75% of our position during the March run-up to $0.90, but we've re-entered the position from $0.20-$0.50 and remain incredibly bullish on the market and the cash flows associated with the growth of fan tokens
ar.ca/blog/crypto-ma…
We sold ~75% of our position during the March run-up to $0.90, but we've re-entered the position from $0.20-$0.50 and remain incredibly bullish on the market and the cash flows associated with the growth of fan tokens
https://twitter.com/jdorman81/status/1373033311120023559?s=20
ar.ca/blog/crypto-ma…
Conclusion: We own many other investments besides what we've written about publicly. And none of our tweets or blogs are financial advice.
However, we do feel it necessary to follow up on tokens that we discuss publicly, in the spirit of #transparency.
However, we do feel it necessary to follow up on tokens that we discuss publicly, in the spirit of #transparency.
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