"Everything runs on Blockworks."

DePIN on @solana is evolving The first generation proved token rewards could bootstrap real-world infrastructure networks The next iteration is about giving anyone the ability to fund them Introducing Fractals: fund the growth of tomorrow’s networks and share in the rewards

If you’re building in this category drop me a line. @recvcx is actively deploying into DeFi on the sun chain.

Introducing the Transparency Alliance. An industry-led alliance establishing the Token Transparency Framework as the standard for token market disclosures.

If you're building in any of the below areas, hit me up! Reciprocal is actively deploying.

I’m excited to share that we expanded our investment team at Reciprocal, adding Sam as an Investor. Great founders deserve great partners. Sam brings the curiosity, conviction, and intellectual rigor we look for in everyone at our firm. Crypto’s most important companies are still ahead of us, and we’re thrilled to have him helping us find and back them. Welcome aboard, Sam. Onwards!

I’m excited to announce that I’m joining Reciprocal as an investor! (@recvcx) This is certainly an interesting spot to enter crypto venture. For the second time in its relatively brief history, DeFi is at an inflection point. While I have some ideas, I’m not entirely sure what it will look like next. What I do know is that each cycle, infrastructure improves, crypto protocols get better, and conviction hardens. We’ve had more products go mainstream in the last couple years than ever before. That is what matters. I’m excited to take on the mission of finding, investing, and supporting the next era of great crypto companies with an incredibly talented team. Onwards!

Excited to share that Reciprocal co-led the Series A extension for @Blockworks_ alongside @paraficapital. Here's why we believe Yano and Mike are building the Morningstar for crypto. This industry is at an inflection point. The technology works. Regulation is finally catching up. Institutions are showing up. The thing standing in the way of real scale isn't any of the old excuses anymore. It's the trust gap. Most crypto businesses haven't done the work to earn investors' trust. And investors don't have the information they need to underwrite the asset class with conviction. That's the bottleneck. Solve it, and a lot of capital starts moving. Here's the bigger picture: every capital market in the world is moving onchain. Stocks, bonds, currencies, commodities, real estate, and tokens. All of it, on public blockchains, trading 24/7, globally and transparently. We've believed this for years and it's no longer a fringe view. In every mature capital market, the information layer is one of the most valuable parts of the system. Bloomberg, S&P, Moody's, Morningstar, FactSet, CapIQ, Refinitiv, Broadridge. These businesses help investors underwrite and help issuers tell their story. They're often worth more than the assets they cover. Crypto deserves its own version of that layer. Built natively for onchain markets with AI from day one. Blockworks is building it. Three products are doing the work today: Data. One of the largest data platforms in the industry. Trillions of rows across 100 pipelines, ingesting from nearly 100 sources, with fully indexed blockchains and direct feeds from a dozen-plus major exchanges. Hundreds of companies and funds run their workflows on top of it. Investor Relations. Blockworks IR is the first full-stack IR platform built for onchain businesses. Branded portals, curated analytics, quarterly reports, the whole stack. Solana, BNB Chain, and Jito are live. Many more are on the way. Disclosures. The Token Transparency Framework is becoming the standard. 30 issuers rated today, 200 by year end. Presented to both the SEC and the CFTC. Active integration conversations with every major exchange. This is what mandated token disclosures will look like. But a great product isn't enough. Winning this market requires trust, and Blockworks has spent years earning it from crypto teams, financial institutions, and large enterprises. This has become a differentiator and a distribution advantage. Customers are telling Blockworks what to build next, and they are delivering. As a result, ARR has grown more than 10x since their last raise. Couldn't be more pumped to back @JasonYanowitz and @MikeIppolito_ for what's next!

Introducing Predicate Asset Compliance: Automated compliance controls for stablecoins and RWAs. Issuers define policies for who can and can’t access their assets. Predicate enforces them in real time, directly onchain. Here's how it works and why we built it.

Attention Builders: A bunch of Crypto VCs that are actively deploying are responding to @dunleavy89 tweet so creating a full list here: 1. @recvcx @CraigBurel 2. @lattice_fund @MikeZajko 3. @PortalVentures @Evanzsolomon 4. @bcap @jonah_b 5. @HashgraphVC @neuralunlock 6. @greenfield_cap @claudedonze 7. @DraperVC @maxime_bucaille 8. @coinfund @EvanTheFeng 9. @v3v_ventures @0xstajus 10. @KosmosVC @maybeltr 11. @VarrockVC @richardchen39 12. @etherfi_VC @DaveHsu 13. @HaunVentures @Beylin 14. @DextForce 15. @ColliderVC @TheEylon 16. @ZeePrimeCap 17. @VerdaVentures @amitochu 18. @Delphi_Ventures @Shaughnessy119 19. @FryCookVC (privacy focus) 20. @equilibrium_co @mhonkasalo 21. @pet3rpan_ @1kxnetwork 22. @hashgraphvc @iwillpat Will continue adding to this list!

We are actively writing checks at @recvcx, and issued/signed a new term sheet just two weeks ago. If you’re a building the future of open economic systems, we want to talk!

Market data, but faster.

Incredible opportunity to join one of the most cracked teams in all of DeFi.

Introducing the new Kamino A refreshed brand. Six new products. A platform built for the next generation of assets and institutions moving onchain. Welcome to the next chapter 🧵

The gap between traditional and digital finance is closing. Big congratulations to the N3XT team on their launch. They are introducing a purpose-built banking model designed to eliminate operating risks and time restrictions. Excited to watch this team lead the charge in modernizing our financial infrastructure.

Last week, we hosted our 8th AGM for Reciprocal Ventures. It’s such a rewarding experience to bring our closest partners and supporters together each year to give them a glimpse inside our world. It felt especially meaningful this year, as both the crypto market and our firm enter a new phase of maturity. Our industry is finally growing up, with legislation like the GENIUS Act and the upcoming CLARITY Act defining rules of the road for builders and investors. At the same time, we wrapped up deployment for Reciprocal Ventures II in Q4 ‘24, our firm’s first dedicated crypto fund. We’re incredibly proud of the work we’ve done in RV II and have been fortunate to partner with some absolute legendary founders. It’s an incredibly exciting time to have fresh capital to deploy. Reciprocal Ventures III will run the same barbell strategy as RV II, focusing on a combination of decentralized protocols and centralized picks-and-shovels businesses at the earliest stages. We have backed five companies this year in RV III, including @doublezero, @plumenetwork, and three yet-to-be-announced deals. So what are we excited about for 2026? To be honest, there’s a lot. Here are some of the top thoughts, ideas, themes, and theses we covered during our AGM this year.

Strongly believe fees should be turned on early in a protocol’s life to test for real demand. Love to see @doublezero leading the charge here! IBRL 0️⃣0️⃣

High quality event by @recvcx and @deptvc! Stablecoins are eating to eat the world.

"If you can perform better and faster, then volume naturally flows to you." Coinflow is proud to announce our $25M Series A round led by @PanteraCapital to power billions in global payment volume. Read more about what this means for the future of global payments in @FortuneMagazine 👉 fortune.com/crypto/2025/10/0…

"There will be a net-new winner built natively on this technology." — @SirDigitalDan, on taking on Stripe & Worldpay Coinflow coming for the payments 👑