Checkmate(CHECK) Regular Invest

With U.S. inflation cooling—CPI dropped to 2.4% in January from 2.7% in December—Bitcoin investors are facing a reality check, according to Anthony Pompliano. Many had viewed Bitcoin as a hedge against fiat currency depreciation, but softening inflation raises questions about its role. Pompliano argues that without significant inflation concerns, investors must reassess their reasons for holding Bitcoin, though he emphasizes its long-term scarcity narrative due to its fixed supply of 21 million coins. Short-term deflation may mask longer-term dollar weakness, a phenomenon Pompliano refers to as a “monetary slingshot” effect. Despite recent price pullbacks and a prevailing sense of “Extreme Fear” in the market, some observers caution that macro risks like fiat devaluation persist. Bitcoin’s value remains influenced by monetary policy, interest rates, and money supply dynamics. As macroeconomic conditions evolve, investors are reevaluating Bitcoin’s dual function as both a hedge and a store of value in an uncertain financial landscape.

Jupiter (JUP) experienced a significant 12% price surge, driven by hundreds of millions in capital over 24 hours. However, on-chain data reveals a stark contrast, with user activity and transaction volume hitting a two-year low, indicating the rally may be speculative rather than organically driven. Despite weak network usage, Total Value Locked (TVL) increased by $166 million, suggesting genuine capital commitment and longer-term positioning. Derivatives market growth was modest, reinforcing that spot buying and capital locking were primary drivers. Short-term price movement is expected to be influenced by liquidity clusters, with potential resistance near $0.18 and support around $0.15. The sustainability remains in question due to the divergence between price and on-chain fundamentals.

Original Author: Asher (@Asher_ 0210) from Odaily Planet Daily (@OdailyChina) **Mahojin** An AI infrastructure platform aiming to become the "GitHub" for AI model creators and dataset developers. It enables intellectual property tracking and compensates original contributors. On April 1, 2025, Mahojin announced a $5 million funding round co-led by a16z CSX and Maelstrom. **Interaction Guide:** 1. Visit the official website, sign in, and link your X account. 2. Click "MAHO Points" and complete daily check-ins to earn points. 3. Upgrade your plan for additional point bonuses. **KAIO** A Layer 1 blockchain focused on institutional-grade RWA tokenization. In 2023, KAIO raised $11 million in funding, led by Laser Digital (Nomura’s digital asset subsidiary) and WebN Group. **Interaction Guide:** 1. Join the waitlist by connecting your wallet and submitting required information. 2. Complete related tasks on Galxe. **Edgen** An intelligent trading assistant for crypto assets, providing real-time market intelligence and actionable trading insights for retail and institutional traders. It has raised a total of $11 million across two funding rounds, with investments from Framework Ventures and North Island Ventures. **Interaction Guide:** 1. Log in via X account on the official website. 2. Complete daily check-in tasks in the "Task Center." 3. Additional tasks include beginner, weekly, and social missions.

The article "The Midlife Crisis of Crypto GPs: No PMF, No LP's Next Check" analyzes the shifting crypto fundraising landscape. It argues that the era of LPs funding vague "vision" is over; GPs must now offer products with clear Product-Market Fit (PMF) to secure capital. The market has matured. LPs, disillusioned by the last cycle's failures and wary of long lock-up periods, now demand tangible, near-term returns rather than speculative narratives. The proliferation of accessible crypto ETFs and other liquid products has reduced the need for VC blind pools as an entry point. The author categorizes crypto fundraising products into three types: Primary (VC funds, with blind pools or clear pipelines), Liquid (alpha/beta, directional/market-neutral strategies), and CeFi/DeFi Native Yield (crypto-specific mechanisms like staking, farming). Focusing on the Primary market, the piece details why traditional LP rationales for investing in crypto VCs have weakened: easier beta access via ETFs, diminished "access" and "judgement" premiums as LPs build internal teams, and a widespread lack of proven superior returns from GPs. Ultimately, only specific players are likely to remain at the primary VC table: large funds with access to patient endowment capital, family offices/HNWIs investing proprietary capital, the few funds with demonstrable excess returns from the last cycle, and those with clear "deal-making" or ecosystem resource advantages. For others, the path forward is to rebuild trust by proving alpha-generation capability in a niche or providing concrete, valuable services.

The article "The Midlife Crisis of Crypto GPs: No PMF, No Next LP Check" analyzes the shifting crypto fundraising landscape. It argues the era of selling grand visions to LPs is over; GPs must now offer products with clear Product-Market Fit (PMF). The author categorizes crypto fundraising products into three types: Primary (VC funds), Liquid (trading strategies), and CeFi/DeFi Native Yield. This summary focuses on the Primary market. Key points include: * **Market Shift:** LPs are impatient, demand immediate returns, and are skeptical of future promises. The "easy money" narrative has faded. * **GP Value Erosion:** LP learning curves have shortened (aided by AI), reducing the value of a GP's basic "crypto knowledge." Superior judgment is now rare. * **Weakened LP Motivations:** Traditional reasons for LPs to invest in crypto VC funds (capturing industry beta, gaining access, leveraging GP judgment) have weakened due to new products like ETFs and increased LP sophistication. * **Surviving in Primary:** The primary market will likely persist for: 1) large funds in endowment mandates treating it as a lottery ticket, 2) family offices/HNWIs using proprietary capital, 3) a few funds with proven recent outperformance, and 4) funds with strong ecosystem "deal-making" capabilities. * **Conclusion:** For most GPs, rebuilding trust requires starting over in a niche, demonstrating alpha-generating ability, or providing concrete value/services to LPs.