Electric Capital co-founder Avichal Garg believes that spot Bitcoin ETFs have helped ease the blow from the collapse of crypto exchange FTX.According to Avichal Garg, co-founder of venture capital firm Electric Capital, cryptocurrency exchange Coinbase will probably not need to mention the word “crypto” in the future.
Over the years, Garg has made early investments in several crypto companies, including NFT platform OpenSea, Lightning Network developer Lightning Labs and crypto bank Anchorage Digital.“What the ETFs do in my mind is they offset the damage that FTX did. I think SBF really destroyed the brand of crypto and burned a lot of people,” he explains.
“It was just totally organic. Just putting out interesting content and going on podcasts,” he says, admitting that he got in ahead of the pack when it came to producing quality crypto content on social media. “I think I could have a couple hundred thousand, but that’s not really what I’m about,” he says, laughing. Garg explains that he is happy with the number of followers he has now because he doesn’t have to deal with any trolls.“I actually think I kind of like this 50K to 100K follower zone. It is the sweet spot because I don’t really get any hate on Twitter. My DMs aren’t blowing up all the time with people stalking me,” he says.