Dan Romero
@dwr.eth
It's pretty much illegal to allow retail to to invest meaningful amounts in private companies. I was in charge of this fundraising round (Series D, the one that Kevin participated in). We looked into a bunch of options but there are were too many complications.
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Graeme
@graeme
Coinbase’s Series D was August 2017, when BTC was ~$4K. Anyone could’ve just bought BTC (fully liquid, no accreditation hurdles) and still outperformed.
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Dan Romero
@dwr.eth
Correct. Fred Wilson talked about this.
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Graeme
@graeme
This tracks all the way back to the seed round. Individual investors were consistently better off just buying the underlying crypto assets. Different story for those who went to work at Coin base—like Olaf or Fred Ehrsam.
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