Pantera Capital

Founded in 2003, Pantera Capital is a venture capital firm based in Menlo Park, California. Since 2014, it has focused exclusively on investing in Bitcoin, other digital currencies, and blockchain technology companies, believing in the transformative potential of cryptocurrencies for global payments.

Ryan Barney

Associate

Mary Blackburn

Associate

Paul Brodsky

Partner

David Cheung

Partner

Nolan Ford

Associate

Semir Gabeljic

Associate

Ron Glantz

Investor

Matt Gorham

Investor

Cosmo Jiang

General Partner

Sean Lim

Limited Partner

Jed McCaleb

Investor

Dan Morehead

Founder and Managing Partner

Harsehaj Singh

Associate

Lauren Stephanian

Partner

Alexis Teplitchi

Investor

Paul Veradittakit

Partner

Heidi Von Allmen

Chief Investment Officer, Pantera Bitcoin Fund and Hedge Fund Analyst

Past deals in Ethereum

Ethena

Funding Round in 2025
Ethena provides derivative infrastructure in order to transform Ethereum into the first crypto-native yield bearing stablecoin.

Radius

Seed Round in 2025
Radius is a trustless shared sequencing layer that provides rollups with sequencing-as-a-service and cross-rollup interoperability solutions. Rollup blockchains are specialized blockchains that have off-chain executions to improve transaction processing speed and overall blockchain performance.

Thruster

Seed Round in 2024
Thruster operates a decentralized exchange (DEX) on the Blast blockchain, catering to developers, yield seekers, and traders. It offers a user-friendly automated market maker (AMM) DEX experience, enhanced with features to improve on-chain interactions. Notably, liquidity provider (LP) tokens on Thruster are fungible and can be employed for on-chain leverage, collateralization, and earning yield through various liquidity tools and Blast-native yield opportunities.

Morph

Seed Round in 2024
Morph is an Ethereum Layer 2 solution that combines optimistic and zero-knowledge rollup technology. It aims to enhance scalability, security, and affordability for consumer-focused decentralized applications (dapps) in sectors like banking, gaming, social media, and entertainment.

EDX Markets

Series B in 2024
EDX Markets operates as a digital asset marketplace. It caters to the needs of both crypto-native firms and large financial institutions. The company trades in various cryptocurrencies including Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. EDX Markets combines innovative technology with financial services to enable safe and compliant trading of digital assets. It also provides trading resources and a UAT Environment for its users. The company is also known for its focus on hiring crypto talent, as stated by its CEO, Jamil Nazarali.

Orderly Network

Series A in 2022
Founded in April 2022, Orderly Network is a decentralized exchange protocol built on NEAR. It aims to provide robust liquidity layer infrastructure for dApps, offering market-leading execution with low latency and minimal fees, along with ample liquidity options.

0x

Series B in 2022
0x is an open protocol facilitating peer-to-peer token exchange on the Ethereum blockchain.

CoinDCX

Series D in 2022
Founded in 2018, CoinDCX specializes in crypto-enabled financial services. It focuses on developing borderless financial services for simplified capital flow, offering powerful wallets and robust security. The company empowers traders with industry-first products tailored to individual trading experiences, risk tolerances, and frequencies. Its mission is to democratize finance and make investments accessible to everyone.

Alchemy

Series C in 2022
Alchemy Insights, Inc. is a blockchain intelligence and infrastructure platform that serves hedge funds and financial institutions. Founded in 2013 and based in San Francisco, it offers a comprehensive suite of tools for analyzing blockchain data, including on-chain data, market trends, and community activity. The platform employs advanced machine learning techniques to help users identify entities, individuals, and currency flows on the blockchain, thereby aiding in sales, security, and strategic decision-making. Alchemy's emphasis on providing developers with essential tools allows for the creation of scalable and reliable decentralized applications without the complexities of managing blockchain infrastructure. The company is backed by notable organizations and individuals, reflecting its prominent position in the blockchain space.

Gemini

Series A in 2021
Founded in 2014 by Cameron and Tyler Winklevoss, Gemini is a leading cryptocurrency exchange and custodian based in the United States. It offers customers the ability to buy, sell, and securely store digital assets while adhering to stringent regulatory standards.

Alchemy

Series C in 2021
Alchemy Insights, Inc. is a blockchain intelligence and infrastructure platform that serves hedge funds and financial institutions. Founded in 2013 and based in San Francisco, it offers a comprehensive suite of tools for analyzing blockchain data, including on-chain data, market trends, and community activity. The platform employs advanced machine learning techniques to help users identify entities, individuals, and currency flows on the blockchain, thereby aiding in sales, security, and strategic decision-making. Alchemy's emphasis on providing developers with essential tools allows for the creation of scalable and reliable decentralized applications without the complexities of managing blockchain infrastructure. The company is backed by notable organizations and individuals, reflecting its prominent position in the blockchain space.

Aurora

Series A in 2021
Aurora is an Ethereum Virtual Machine developed by the NEAR Protocol team, offering a seamless solution for developers to run applications on an Ethereum-compatible platform. It combines the benefits of Ethereum compatibility with the scalability and low transaction costs of the NEAR Protocol, creating a high-throughput environment for decentralized applications. The platform is designed to deliver an exceptional user experience, enabling Ethereum developers to transition effortlessly by simply changing the RPC endpoint. Aurora aims to facilitate the development of decentralized applications while ensuring affordability and efficiency for users.

Stader Labs

Seed Round in 2021
Stader Labs specializes in developing decentralized financial protocols and applications focused on efficient stake management across public blockchain networks. The company aims to serve as a distribution layer for staking, creating protocols and products that enhance the security, decentralization, liquidity, and governance of prominent delegated proof-of-stake blockchain networks, including Ethereum, Terra, Polygon, and Solana. By providing sustainable staking yields from digital assets, Stader Labs seeks to optimize the staking experience for its users and contribute to the overall health of the blockchain ecosystem.

Abra

Series C in 2021
Abra is a cryptocurrency platform established in 2014, designed to provide a straightforward and secure environment for individuals and businesses to buy, trade, and borrow against cryptocurrencies. Based in the United States and operational in over 150 countries, Abra facilitates easy conversion between cryptocurrencies and various local fiat currencies. The platform serves a diverse clientele, including high-net-worth individuals, family offices, registered investment advisors, and institutions, offering customizable services that allow users to manage their crypto portfolios effectively. With over two million customers and $9 billion processed in transactions, Abra has positioned itself as a trusted solution in the cryptocurrency market, earning recognition as one of the top five crypto wallets. The company is supported by prominent investors, reinforcing its commitment to creating an open and accessible global financial system.

Offchain Labs

Series B in 2021
Founded in 2018, Offchain Labs specializes in developing solutions for scaling Ethereum smart contracts. Its platform enables the creation of private smart contracts on the Ethereum ecosystem, facilitating custom chain launches, layer-two migrations, node running, and virtual machine contract deployments.

Vauld

Series A in 2021
Vauld is a Singapore-based cryptocurrency platform founded in 2018, with an additional office in Bengaluru, India. It provides a comprehensive online platform where users can lend, borrow, and trade various crypto assets, including Bitcoin, Ethereum, and several stablecoins. Vauld's services include token borrowing, liquidity management, interest rate information, and repayment solutions, all aimed at enhancing the user experience in managing digital assets. The platform also offers integration services for enterprises, exchange solutions, and funds tracking, allowing for a seamless and efficient approach to crypto transactions. By treating cryptocurrencies as a distinct asset class, Vauld aims to facilitate user-friendly banking services leveraging blockchain technology.

Eco

Series B in 2021
Eco Inc. is a financial technology company focused on enhancing the value of money through innovative software solutions. As a founding contributor to the Eco Protocol, the company aims to optimize financial transactions and promote efficient banking practices. Eco also develops Bend, a platform designed to offer rewarding financial solutions that align with the expectations of modern consumers. Through its commitment to improving how individuals interact with their finances, Eco seeks to drive a new standard for money management.

Rangers Protocol

Private Equity Round in 2021
Rangers Protocol is a blockchain infrastructure company focused on creating a virtual world that is fully compatible with Ethereum. It specializes in supporting non-fungible tokens (NFTs) and complex applications while enhancing cross-chain capabilities, Ethereum Virtual Machine (EVM) integration, and distributed network protocols. The company also develops decentralized products and incentive programs within the decentralized finance (DeFi) sector, aiming to establish a sustainable economic model. This model enables users to achieve stable profits in the cryptocurrency landscape through various services, including token usage, storage, trading, and staking.

Rangers Protocol

Seed Round in 2021
Rangers Protocol is a blockchain infrastructure company focused on creating a virtual world that is fully compatible with Ethereum. It specializes in supporting non-fungible tokens (NFTs) and complex applications while enhancing cross-chain capabilities, Ethereum Virtual Machine (EVM) integration, and distributed network protocols. The company also develops decentralized products and incentive programs within the decentralized finance (DeFi) sector, aiming to establish a sustainable economic model. This model enables users to achieve stable profits in the cryptocurrency landscape through various services, including token usage, storage, trading, and staking.

Notional Finance

Series A in 2021
Notional is a decentralized protocol for fixed rate, fixed term lending and borrowing of crypto assets on Ethereum. Users can lend or borrow stablecoins at fixed rates of interest for terms of up to six months using a variety of assets as collateral. Notional achieves fixed rate lending via a primitive called fCash, which is redeemable for an underlying currency like DAI upon the fCash token’s maturity date. Notional operates specialized liquidity pools that allow users to efficiently trade cash for fCash and vice versa. The exchange rate that a user receives on their trade implies a fixed rate of interest from the time of trade until the fCash token’s maturity. Notional is flexible and configurable. The protocol can add additional assets for lending and borrowing, additional collateral types, and additional maturities beyond six months. The community intends to broaden Notional’s scope over time to include a wider array of supported assets and extended available maturities. Notional prioritizes security. The protocol team works with industry leaders to ensure that the smart contracts are technically secure and that the economic assumptions applied in the protocol’s design are sound.

Alchemy

Series B in 2021
Alchemy Insights, Inc. is a blockchain intelligence and infrastructure platform that serves hedge funds and financial institutions. Founded in 2013 and based in San Francisco, it offers a comprehensive suite of tools for analyzing blockchain data, including on-chain data, market trends, and community activity. The platform employs advanced machine learning techniques to help users identify entities, individuals, and currency flows on the blockchain, thereby aiding in sales, security, and strategic decision-making. Alchemy's emphasis on providing developers with essential tools allows for the creation of scalable and reliable decentralized applications without the complexities of managing blockchain infrastructure. The company is backed by notable organizations and individuals, reflecting its prominent position in the blockchain space.

Virtue Poker

Seed Round in 2021
Virtue Poker is a decentralized poker platform that leverages the Ethereum blockchain and peer-to-peer networking to create a secure and transparent online poker experience. The platform is designed to ensure safety and integrity, allowing players to engage in games with confidence. By utilizing advanced blockchain technology and shuffling algorithms, Virtue Poker provides a globally accessible payment system, enabling players to participate in games and potentially earn monetary rewards. The company aims to enhance the traditional online poker experience by combining innovative technology with a focus on user trust and enjoyment.

Liquity

Series A in 2021
Liquity is a decentralized borrowing platform operating on the Ethereum blockchain. It facilitates interest-free loans by using Ether as collateral.

Reflexer Labs

Venture Round in 2021
Reflexer Labs is a United States based company developing low-volatility collateral for decentralized finance. Founded in 2020, it aims to provide a stable and secure asset by dampening volatility within crypto markets. Its product applies control theory to smart contracts to automatically adjust the supply of collateral, mirroring the behavior of underlying assets while reducing price swings. The approach helps minimize investment loss risk for users participating in decentralized finance strategies.

0x

Series A in 2021
0x is an open protocol facilitating peer-to-peer token exchange on the Ethereum blockchain.

Wintermute

Series B in 2021
Wintermute is a global leader in algorithmic trading for digital assets. With an average daily trading volume of over $5 billion across 350+ tokens on 80+ exchanges, it facilitates OTC trades and provides liquidity provisioning services. Wintermute actively invests in early-stage DeFi projects, supporting the growth of decentralized finance.

Vauld

Seed Round in 2020
Vauld is a Singapore-based cryptocurrency platform founded in 2018, with an additional office in Bengaluru, India. It provides a comprehensive online platform where users can lend, borrow, and trade various crypto assets, including Bitcoin, Ethereum, and several stablecoins. Vauld's services include token borrowing, liquidity management, interest rate information, and repayment solutions, all aimed at enhancing the user experience in managing digital assets. The platform also offers integration services for enterprises, exchange solutions, and funds tracking, allowing for a seamless and efficient approach to crypto transactions. By treating cryptocurrencies as a distinct asset class, Vauld aims to facilitate user-friendly banking services leveraging blockchain technology.

Securrency

Series A in 2020
Securrency, Inc. is a financial technology company based in Riva, Maryland, with additional locations in Washington, D.C., New York City, and Abu Dhabi. Founded in 2015, Securrency specializes in developing a platform that facilitates the tokenized issuance and trading of securities. Its technology integrates traditional financial services with advancements in distributed ledger technologies, enabling seamless interaction between on-chain and off-chain systems. By providing tools for multi-jurisdictional identity and compliance, Securrency enhances market efficiency and security, making financial services more transparent and accessible. The company's platform supports a range of distributed ledgers, allowing various financial market participants, such as issuers and broker-dealers, to conduct transactions in a compliant manner while connecting investors with asset owners and startups seeking capital.

Eco

Seed Round in 2020
Eco Inc. is a financial technology company focused on enhancing the value of money through innovative software solutions. As a founding contributor to the Eco Protocol, the company aims to optimize financial transactions and promote efficient banking practices. Eco also develops Bend, a platform designed to offer rewarding financial solutions that align with the expectations of modern consumers. Through its commitment to improving how individuals interact with their finances, Eco seeks to drive a new standard for money management.

DeSo Foundation

Seed Round in 2020
DeSo is a layer-1 blockchain, like Bitcoin or Ethereum, that recently listed on Coinbase, has accumulated over 1.5 million accounts, and just crossed over $1B in volume transacted on-chain. DeSo is backed by Sequoia, Andreessen Horowitz, Social Capital, Coinbase Ventures, and many others. Our mission is to decentralize social media the same way Bitcoin and Ethereum are decentralizing the financial system. As a layer-1 blockchain, DeSo can be compared to other blockchains like Bitcoin, Ethereum, Solana, Avalanche, etc... However, DeSo has several major advantages over these platforms, the largest being that it is designed to power storage-heavy applications (like social applications and marketplaces). To put it in perspective, storing just a 200-character "Tweet" on Ethereum costs ~$80, and costs ~$0.25-$1.00+ on Solana, Avalanche, Polygon, and virtually all other smart contract chains. In contrast, it costs 1/1,000th of a penny on DeSo, which is why breakthrough apps like Diamond, DAODAO, Pearl, OpenProsper, NFTz, and Entre, now possible exclusively on DeSo. Today, social media is even more centralized than the financial industry was prior to the creation of Bitcoin. A handful of private entities effectively control public discourse, and earn monopoly profits off of content that they don't even create. Society’s answer to financial centralization was not to put Warren Buffett in charge of money, it was to use technology, namely Bitcoin, so we could have nobody in charge. We believe the same type of technology will cause this conclusion to ultimately play out in social. DeSo’s advantages make it capable of breaking this status quo for the first time, and bringing competition and innovation back to social in much the same way Bitcoin and Ethereum have done for our financial system. Moreover, if DeSo succeeds, we will no longer need individual "dictators" to set a homogenous moderation policy for hundreds of millions of people.

Alchemy

Series A in 2019
Alchemy Insights, Inc. is a blockchain intelligence and infrastructure platform that serves hedge funds and financial institutions. Founded in 2013 and based in San Francisco, it offers a comprehensive suite of tools for analyzing blockchain data, including on-chain data, market trends, and community activity. The platform employs advanced machine learning techniques to help users identify entities, individuals, and currency flows on the blockchain, thereby aiding in sales, security, and strategic decision-making. Alchemy's emphasis on providing developers with essential tools allows for the creation of scalable and reliable decentralized applications without the complexities of managing blockchain infrastructure. The company is backed by notable organizations and individuals, reflecting its prominent position in the blockchain space.

Blockfolio

Series A in 2019
Blockfolio, Inc. is a company that specializes in developing a mobile application for cryptocurrency portfolio tracking and management. Founded in 2014 and based in Marina Del Rey, California, Blockfolio's application enables users to build and monitor their cryptocurrency portfolios, providing real-time prices, market data, and news updates from prominent figures in the crypto sector. The platform also facilitates automated portfolio tracking by integrating with users' exchange accounts, allowing for seamless management of investments. With millions of users, Blockfolio is recognized for its commitment to providing free access and valuable insights, helping individuals stay informed about the dynamic cryptocurrency landscape. As of August 2020, Blockfolio operates as a subsidiary of FTX Trading LTD.

Tlon

Venture Round in 2019
Tlon Corporation is a software company based in San Francisco, California, founded in 2013. It develops Urbit, an open-source software framework designed to serve as a complete reimplementation of the system software stack. Urbit features a new functional programming language and a functional network operating system, with its architecture allowing users to own their address space. Tlon aims to create a new layer over the Internet, facilitating the transition from traditional cloud services to a personal cloud computer model through Urbit ships. The company also offers consulting and development services tailored for investment banks, hedge funds, and proprietary trading firms, while focusing on the growth of the Urbit ecosystem and hosting services for its users.

Flexa

Initial Coin Offering in 2019
Flexa facilitates secure, privacy-focused transactions using cryptocurrencies at point-of-sale. It offers consumers control over their personal data sharing for loyalty and marketing purposes, enabling dynamic opt-in options.

Offchain Labs

Seed Round in 2019
Founded in 2018, Offchain Labs specializes in developing solutions for scaling Ethereum smart contracts. Its platform enables the creation of private smart contracts on the Ethereum ecosystem, facilitating custom chain launches, layer-two migrations, node running, and virtual machine contract deployments.

Alluva

Initial Coin Offering in 2019
Alluva is a company that operates an analyst marketplace for cryptocurrency investments, aiming to support institutions and individuals by providing transparent evaluation of blockchain projects. It designs a blockchain-based DApp that enables users to predict and rate crypto assets, rewarding accurate calls with native tokens and allowing those tokens to be used in the Alluva Store. The platform uses a contributor model that quantitatively and qualitatively rates cryptocurrencies, providing investors with tools to identify projects with mass adoption potential while helping to steer clear of scams. Alluva was founded in 2019 and is based in San Francisco, California.

ThunderCore

Series A in 2019
ThunderCore operates a high-performance public blockchain compatible with the Ethereum Virtual Machine (EVM). It employs a proprietary consensus protocol called PaLa, which addresses scalability challenges and enables rapid transaction processing at over 4,000 TPS with confirmation times under one second. The network's native currency, TT, facilitates secure and low-cost transactions, with gas fees costing less than a fraction of a cent. ThunderCore serves an international user base across over 190 countries, supporting decentralized applications (dApps) with enhanced security and scalability.

Ampleforth

Venture Round in 2018
Ampleforth Limited is a non-profit charitable organization based in San Francisco, California, focused on providing an Ethereum-based cryptocurrency designed to maintain stable purchasing power. The organization has developed a digital asset protocol that adjusts the supply of its currency daily in response to market conditions and demand. This unique mechanism enables the currency to target the Consumer Price Index-adjusted purchasing power of the US dollar, allowing for proportional increases or decreases in the number of units held in users' wallets. By facilitating diversification and offering a stable alternative in the volatile cryptocurrency market, Ampleforth aims to support crypto investors and enhance their purchasing power through innovative financial solutions.

Blockfolio

Series A in 2018
Blockfolio, Inc. is a company that specializes in developing a mobile application for cryptocurrency portfolio tracking and management. Founded in 2014 and based in Marina Del Rey, California, Blockfolio's application enables users to build and monitor their cryptocurrency portfolios, providing real-time prices, market data, and news updates from prominent figures in the crypto sector. The platform also facilitates automated portfolio tracking by integrating with users' exchange accounts, allowing for seamless management of investments. With millions of users, Blockfolio is recognized for its commitment to providing free access and valuable insights, helping individuals stay informed about the dynamic cryptocurrency landscape. As of August 2020, Blockfolio operates as a subsidiary of FTX Trading LTD.

Cypherium

Venture Round in 2018
Cypherium Blockchain, Inc. is a New York-based company that offers a hybrid blockchain platform designed for scalability and permissionless access. Established in 2018, the platform employs a unique consensus mechanism that combines proof-of-work and Byzantine fault tolerance, aiming to achieve high transaction throughput and efficient contract execution. Cypherium focuses on providing essential building blocks for developers to create innovative applications, while also ensuring an intuitive interface for users. Its goal is to enhance financial inclusivity through protocol interoperability and to serve as a comprehensive foundation for the future of blockchain technology, delivering significant privacy and security benefits for businesses.

Ampleforth

Venture Round in 2018
Ampleforth Limited is a non-profit charitable organization based in San Francisco, California, focused on providing an Ethereum-based cryptocurrency designed to maintain stable purchasing power. The organization has developed a digital asset protocol that adjusts the supply of its currency daily in response to market conditions and demand. This unique mechanism enables the currency to target the Consumer Price Index-adjusted purchasing power of the US dollar, allowing for proportional increases or decreases in the number of units held in users' wallets. By facilitating diversification and offering a stable alternative in the volatile cryptocurrency market, Ampleforth aims to support crypto investors and enhance their purchasing power through innovative financial solutions.

ThunderCore

Seed Round in 2018
ThunderCore operates a high-performance public blockchain compatible with the Ethereum Virtual Machine (EVM). It employs a proprietary consensus protocol called PaLa, which addresses scalability challenges and enables rapid transaction processing at over 4,000 TPS with confirmation times under one second. The network's native currency, TT, facilitates secure and low-cost transactions, with gas fees costing less than a fraction of a cent. ThunderCore serves an international user base across over 190 countries, supporting decentralized applications (dApps) with enhanced security and scalability.

Origin Protocol

Seed Round in 2018
Origin Protocol, Inc. is a technology company based in San Francisco, California, that specializes in developing a blockchain platform for decentralized marketplaces within the global sharing economy. Founded in 2017, Origin offers an open-source protocol that leverages the Ethereum blockchain and the Interplanetary File System (IPFS) to facilitate peer-to-peer transactions. This platform enables the creation and management of listings for fractional use of goods and services, such as car-sharing and home-sharing, while allowing buyers and sellers to discover one another, make bookings, and leave ratings and reviews without the need for traditional intermediaries. By lowering transaction fees and promoting transparent commerce, Origin aims to empower users and foster a more equitable marketplace ecosystem.

Koinex

Seed Round in 2017
Koinex is a multi-cryptocurrency exchange and trading platform established in 2017 and headquartered in Mumbai, Maharashtra. It enables real-time trading of various cryptocurrencies through a peer-to-peer exchange model, allowing buyers to place bids and sellers to set asking prices for their assets. The platform was designed to support the growing demand for cryptocurrency transactions and facilitate a seamless trading experience for its users.

Abra

Series A in 2015
Abra is a cryptocurrency platform established in 2014, designed to provide a straightforward and secure environment for individuals and businesses to buy, trade, and borrow against cryptocurrencies. Based in the United States and operational in over 150 countries, Abra facilitates easy conversion between cryptocurrencies and various local fiat currencies. The platform serves a diverse clientele, including high-net-worth individuals, family offices, registered investment advisors, and institutions, offering customizable services that allow users to manage their crypto portfolios effectively. With over two million customers and $9 billion processed in transactions, Abra has positioned itself as a trusted solution in the cryptocurrency market, earning recognition as one of the top five crypto wallets. The company is supported by prominent investors, reinforcing its commitment to creating an open and accessible global financial system.

Bitstamp

Venture Round in 2014
Bitstamp, established in 2012, is a regulated cryptocurrency exchange headquartered in London, with offices in Luxembourg and California. It operates a global digital currency marketplace, facilitating the buying and selling of major cryptocurrencies such as Bitcoin, Litecoin, Ethereum, Ripple, and Bitcoin Cash for both individual and institutional clients. The company is committed to providing secure, transparent, and reliable trading services.
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