YettaS
@YettaSing
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- Investment Partner @primitivecrypto - Asia edge, Macro lens, Stablecoin nerd - PKU & Cal Alumni, PhD in Economics
Joined February 2024
My personal homepage updated! summarizing some of my thoughts and threads from the past. This includes the investment logic behind several deals, as well as my insights on various sectors and markets and my observation of human nature. Writing has been.
yettas.notion.site
Bio: Investment Partner @Primitive.Ventures, PKU & Cal Alumni, PhD in Economics
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看到评论里很多在讨论信科。我的观察是：AI 作为生产力方向绝对没问题，但也因为 AI 的进化速度太快，大概率除了那 0.1% 真正的顶尖 AI 科学家，其余人都可能成为炮灰. 我这次去湾区感受特别深，大厂码农的焦虑几乎写在脸上。微软 2025 年累计裁掉超过一万五千人，约占总员工的.
北大近三年录取数据：经院、光华热度腰斩。想当年状元扎堆，如今金融的光环一去不复返了…. 我们内部有个指标：任何行业一旦清北生扎堆，基本就是顶部信号。精致利己主义者不能扛早期风险，最擅长在内卷环境里做边际改进。 同理北美藤校MBA。
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北大近三年录取数据：经院、光华热度腰斩。想当年状元扎堆，如今金融的光环一去不复返了…. 我们内部有个指标：任何行业一旦清北生扎堆，基本就是顶部信号。精致利己主义者不能扛早期风险，最擅长在内卷环境里做边际改进。 同理北美藤校MBA。
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先去旧金山，Meta在以100m挖科学家；现在来纽约，DAT在以20-30m挖CEO……. AI跟Crypto两个双泡沫，挖人都是以10m作为起价单位🫡.
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期待跟大家一起探讨！.
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Bill的播客是我今年聊得最硬核的一次，提问非常犀利，把我们不少底层投资逻辑都挖了出来。. 录的时候 Circle 还没IPO，现在回头看，很多判断已经开始验证了。.
这期的Bill It Up，我们邀请了Primitive.
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恭喜 @openmind_agi ,这次SBC上最闪亮的明星！
Today, we are thrilled to announce our $20M raise led by @PanteraCapital. The future of thinking machines is OPEN.
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谢谢@jack_xiong137 的访谈！DAT是一种基于底层加密资产的金融化创新，给予机构灵活的配置空间。比如我这里提到的MSTR已经发行了四类优先股，各自有不同的风险特征来吸引不同类型投资者，这样灵活的金融工具是持有本币或ETF所不具备的。.
这个选题是从6月中旬开始做的，那时SBET尚处低点，对加密货币储备公司（DAT）的讨论也还停留在「币股」这个概念上。但仅仅一个月时间，市场就已经发生了翻天覆地的变化。这篇文章采访了多位参与甚至缔造这股浪潮的投资人，从投资人的视角全面梳理了这个新赛道的发展过程和当下的游戏规则。
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微策略7月这笔优先股融资创了2025年美股记录，融了25亿美金。不同于之前的三支优先股，这支的设计已经达到美债能力了，这是一支对固收机构非常有吸引力的优先股。. - 通过IPO融资25亿美金，足以覆盖2–3 年的分红，无需卖币或再融资.- 浮动利率，锚定面值：9% 月度分红，确保 STRC 在 $100.
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STRC is the largest IPO in 2025. this STRC design feels truly US Treasury-grade, no wonder could raise 2.5b. Unlike STRF/STRD, it’s built to attract real fixed income capital. - $2.5B IPO proceeds: 2–3 years of dividends without needing to sell BTC or refinance.- Floating.
Driving the digital transformation of IPOs with $BTC. $STRK $STRF $STRD $STRC
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RT @primitivecrypto: Berkeley braintrust meets crypto capital markets, co-hosted with @TheHouseVC & @CalBlockchain, both born and bred in t….
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RT @ethena_labs: StablecoinX Inc. @stablecoin_x has announced a $360 million capital raise to purchase $ENA and will seek to list its Class….
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RT @primitivecrypto: We’re excited to support $LTC ’s next chapter through the $100M PIPE round, alongside @Satoshi….
coindesk.com
A little-known Nasdaq-listed drugmaker plans to invest $100M in litecoin, appoints Charlie Lee to its board and names GSR as treasury manager.
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RT @haonan: we’re on the hunt for a top 1% cryptonative BD savant, somebody who’s experienced at handling ramps, exchanges, market makers,….
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好多人来问SBET，我们当时参与PIPE的投资逻辑都在这里啦，Equity-Token synergy是这个周期Cedefi的极致展现，结构性打法也会不断升级换代，值得期待🙌.
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Visa turned credit cards into rails. Stablecoins are doing the same to banks. They’ve become the native interface for depositing, earning, borrowing, and spending in crypto. To win the stablecoin war, you must master 3 levers:.- Sourcing supply.- Owning Channels.- Designing
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RT @Perena__: We're excited to announce the close of a fresh funding round with select institutions — alongside an oversubscribed Echo Roun….
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我不这么看，先通过稳定币支付把钱引入链上，有了资金流入，链上经济才有土壤去长出更多应用和创新。.
若未来不断降息，回到之前1%时代，其实稳定币生意很难。.
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