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Alexander Pack
@alpackaP
A crypto VC since 2014. Seeded ~20x 🦄s. Co-founder @Hack_VC. Previously: co-founder @Dragonfly_xyz, advisor @HuobiGlobal, @BainCapVC, @AngelList
Gondolin
hack.vc
Joined April 2013
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  • Pinned
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    Alexander Pack
    @alpackaP
    Apr 13
    Hard to find us? Debuting the world premiere of the Hack VC Founders Hotline Need funding? Better call Hack Results guaranteed in <1 week (we have 9 figs+ to deploy, pls help us spend it)
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    Alexander Pack
    @alpackaP
    Apr 11
    Hack VC is still investing, actually more aggressively than ever. Come find us.
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    Alexander Pack
    @alpackaP
    Nov 17, 2022
    I was the first VC to try to invest in SBF, 4 years ago, well before FTX had even launched. I shared some of my story with CNBC, but there is more - a lot more. Here's what I learned, and why I passed on investing based on suspicion of deception and reckless risk-taking.
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    CNBC
    @CNBC
    Nov 17, 2022
    Cryptocurrency investor says he saw 'serious red flags' with FTX founder Sam Bankman-Fried cnb.cx/3AnFZvq
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    Alexander Pack
    @alpackaP
    Nov 17, 2022
    Replying to @alpackaP
    But first, how do I know I was one of the first VCs to talk to Sam? Because Sam tweeted about his “horror story” experience with me, the investor who delved too deep and asked too many questions. That’s me below, “G.” Hi!
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    SBF
    @SBF_FTX
    Aug 6, 2020
    Replying to @SBF_FTX
    2) I'll start with two very different horror stories. I'm not going to name names, but you know who you are. The first story is the longer one. There was a VC; call them G. We were in talks with G for a while about investing into Alameda. In many ways the talks were good!
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    Alexander Pack
    @alpackaP
    Nov 12, 2024
    1/ ETH is underperforming BTC and SOL big time this cycle. The reason? Many think that it’s Ethereum’s choice to go modular. Was this a strategic misstep? We pulled a bunch of data and have some answers. 👇
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    Alexander Pack
    @alpackaP
    Nov 17, 2022
    Replying to @alpackaP
    In my next tweets, I’ll talk more about what I learned from my up-close encounter with a future super villain. And what I think VCs, the crypto community, and regulators (!) can do better to stop these kind of catastrophes from bad actors in the future.
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    Alexander Pack
    @alpackaP
    Nov 17, 2022
    Replying to @alpackaP
    This is a big conflict of interest: in 2018, Sam tried to use our investment in Alameda to start FTX, an entity that we neither knew of nor owned It's also ironic! Since, last week, Sam was caught doing the opposite: siphoning $10B+ from FTX to bail out Alameda, his private firm
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    Alexander Pack
    @alpackaP
    Nov 17, 2022
    Replying to @alpackaP
    Including me. I sat on this story for years because I was afraid of Sam's retribution. Which I think was a reasonable fear. I mean, read his original tweets about me! They're very mean. Still, my 'horror story' with Sam is small potatoes vs the millions of lives he’s hurt today.
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    Alexander Pack
    @alpackaP
    Nov 17, 2022
    Replying to @alpackaP
    1. A few months before we met Sam, Alameda lost north of $10M - a huge amount of their assets - on “trade errors.” We could never figure out if this was due to fraud, incompetence, or a well-meaning mistake.
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    Alexander Pack
    @alpackaP
    Nov 17, 2022
    Replying to @alpackaP
    My heart goes out to everyone affected by this catastrophe. Crypto is a technology of freedom, but it makes it easier to do bad things as well as good. As a community, we in crypto need to do better to catch and call-out bad actors before they become supervillains.
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    Alexander Pack
    @alpackaP
    Nov 17, 2022
    Replying to @alpackaP
    2. Following Sam’s $10M+ "trade errors" (known internally at Alameda as "the April fiasco"), the co-founder of Alameda - who may also have been Sam’s girlfriend? - quit, along with about half the team. They also broke up 😢
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    Alexander Pack
    @alpackaP
    Nov 17, 2022
    Replying to @alpackaP
    Even back in 2018, it was clear to us that Sam took reckless risks with other people's money, and wanted to use our capital to finance his own secret projects, to our detriment It didn’t seem right to support someone like that, no matter how smart or good he was at making money
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    Alexander Pack
    @alpackaP
    Nov 17, 2022
    Replying to @alpackaP
    4. We were taking awhile, so Alameda decided to also try raising debt. They bought a booth at a crypto conference and handed out fliers that advertised “HIGH RETURNS WITH NO RISK” and “no downside.” Seriously. We warned them this was nuts, they said oops, but like... what.
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    Alexander Pack
    @alpackaP
    Mar 25, 2025
    1/ Most crypto VCs talk a big game about “community.” We decided to actually do something - starting with launching a @Hack_VC Echo group to give the community access to our early-stage crypto deals. Hack VC is committed to being a community-aligned VC.
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    Hack VC
    @hack_vc
    Mar 25, 2025
    🚨 BIG NEWS: @hack_vc, a $600M fund manager, is launching an Echo group! 🚨 Hack VC is one of the first major regulated U.S. crypto fund managers to do this—backed by a growing group of 1,600+ real crypto-native investors. Crypto is, at its core, about community. The most
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    Alexander Pack
    @alpackaP
    Nov 17, 2022
    Replying to @alpackaP
    Sadly, Sam found other marks for his shell game after we left the picture. Today, FTX's investors, customers, and even employees have found that their money was transferred to an "unaffiliated," privately owned, highly levered trading firm (Alameda) that they know nothing about.