Pro
The Week In Crypto Policy: A VC's Perspective on Crypto & Policy
Key Insights
- Nic highlights the emerging Layer-2 ecosystem on Bitcoin, DeFi projects on Solana, and stablecoins as the key areas he's focused on at this time.
- The lack of regulatory clarity in the U.S. is increasingly pushing Castle Island Ventures to look abroad for deals; for example, "investing in tokens [is] tricky, as current interpretations of securities law force founders to make their tokens empty husks instead of actually useful financial products with cash flows and meaningful governance."
- According to Nic, Operation ChokePoint 2 is still very much ongoing, forcing crypto business in the U.S. to be much more capital intensive and serving as a huge headwind for builders.
- As for the 2024 presidential election, Nic thinks it is "incredibly unlikely" Harris "resets" on crypto policy, and says President Trump "couldn't be more pro-crypto" if he tried.
Intro
Nic Carter is a Founding Partner at Castle Island Ventures – a venture capital firm focused exclusively on public blockchains.
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George Leonardo is the founder of Cap Hill Crypto, a solo-entrepreneur venture focused on providing nonpartisan insights and analysis on U.S. federal crypto policy. Previously, he worked on Capitol Hill for Senator John Cornyn and as a litigation associate at Milbank LLP.