
As the crypto market starts to do well, Alex Pack from Hack VC shares his thoughts. He thinks the crypto industry is new and can grow much more. He also believes combining crypto and intelligent computer programs (AI) could improve it.
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- Hack VC collects $150 million even when the market is down, aiming at new Web3 foundations.
- Alex Pack discusses using innovative computer programs in apps that aren’t run by just one person or group.
- Pack thinks projects about money on the Internet are significant.
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Catalysts for the Crypto Bull Market: AI, DeFi, and Real-World Assets
Hack VC’s Recent Money Collection and Market Difficulties
In a recent episode of the Unchained podcast, Alex Pack discussed how Hack VC managed to collect $150 million despite the challenging market. This is a big deal, especially when large businesses like FTX, 3AC, and Terra find things tough. However, even with these challenges, Hack VC is still dedicated to supporting new projects on the Internet. This tells us that the company is creative, and people believe in it.
The FTX Incident
Pack also talked about meeting with Sam Bankman-Fried, who started FTX. He called him a “sociopath.” He explained why Hack VC decided not to give money to FTX. This shows that the crypto industry can be unpredictable, and you must be careful when deciding where to invest your money.
What Hack VC Believes In and Focuses On
Hack VC believes in supporting smart tech people in the crypto space and helping innovative projects. Pack talked about what the company mainly spends its money on making things bigger (scalability), intelligent computer programs (AI), and decentralized finance (DeFi). He thinks combining AI with decentralized apps makes them much better and more valuable.
The Zuzalu Community and Network States
Pack also talked about a new community called Zuzalu, inspired by Balaji Srinivasan’s idea of a network state. This is where crypto people can collaborate and develop new ideas and technologies. This shows Hack VC’s dedication to helping the crypto industry grow.
AI’s Role and Middleware Solutions
Pack also mentioned how AI can make decentralized apps work more efficiently. He gave a thumbs up to a tool called EigenLayer, which can be super helpful for apps in the blockchain network. These tech things are essential for helping the new decentralized apps.
How to Make Blockchains Bigger: Modular vs. Monolithic
Pack talked about how to make chains of blocks on the internet bigger. He spoke about the good and not-so-good sides of models made of many or just one big piece. Understanding these different models is very important for creating solid and bendy chains of blocks on the internet that can handle more use and more complicated stuff.
How DeFi Stood Strong and CeFi Failed
Pack talked about how DeFi projects managed to survive the recent challenging market. He compared this to how centralized finance companies like Celsius, BlockFi, and FTX could have done better. This shows that decentralized systems.
Stablecoins and Security Measures
Pack expressed his doubts about how valuable stablecoins like Ethena’s USDe are. He also stressed how essential it is for the crypto industry to be safe. Making things more secure is a big deal for building trust and ensuring that the market continues to get bigger.
Optimism for Bitcoin ETFs and Future Opportunities
In the end, Pack shared his excitement and positivity about the sound effects of Bitcoin ETFs. He believes these could be very important for the next time when the market does well. He is very hopeful about the future of crypto, saying that this field is still very new and has lots of space to grow and improve. He thinks combining crypto and AI and making secure solutions will improve the crypto market.
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