Walt Smith of Cyber Fund joins The Gwart Show, sharing his take on venture capital in the crypto–and specifically Bitcoin–space. He discusses the potential of Bitcoin rollups, the future of Ethereum, and the drama among crypto VCs. Walt also dives into the idea of merge mining as a scaling solution for Bitcoin and shares his thoughts on the end game of tokenization.

Chapter Markers:

00:00 Start

01:22 Walt's background

02:45 Working at Galaxy

04:22 Major investments

05:36 Restaking

08:19 Multi-asset pool model

10:55 Open infrastructure "free banking"

13:47 Are DOAs dumb?

20:24 Tokenizing equities

26:32 Interest in Bitcoin

29:50 ETH minimum viable issuance

35:22 Lido DOA

40:15 Restaking controversy

44:11 VC cat fights

50:04 Bitcoin season 2

53:04 Bitcoin L2 VC investments

55:51 Merge mining Bitcoin

58:22 Bitcoin covenants

03:34 Attrition to L2 on Bitcoin

08:28 BTC vs ETH in 10 years

13:49 realistic growth projections

17:03 Wrap up

Follow our guest on Twitter: @waltjsmith

Follow our host: @gwartygwart

👋The Gwart Show is proudly presented by Ellipsis Labs! Ellipsis Labs is building foundational products in DeFi. Their first product @PhoenixTrade is the leading orderbook DEX on Solana. The team is growing—visit ellipsislabs.xyz for engineering opportunities.

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