Jeff Dorman

@jdorman81

CIO @arca - digital assets investing | Former COO of Harvest Exchange | Former Lehman, Merrill, Citadel | Huge Cleveland Sports Fan | CFA charterholder

Los Angeles, CA

ar.ca

Joined December 2010

1,651 Following

48.3K Followers

Replies Reposts Media Articles

Pinned
Jeff Dorman
@jdorman81
Feb 27, 2025
There are a few Crypto hills that I will die on. I've been writing about these topics, and debating people for years. Today I'm laying them all out in one place. I will happily debate any of these topics with anyone at anytime. A thread👇
83
Jeff Dorman
@jdorman81
22h
Article
Binance Was Hacked. Blockchain Wasn't.
The Largest Crypto Hack in History Just when it seemed like the crypto industry was finally moving beyond its reputation for hacks, fraud, and operational incompetence, the world’s largest
2
Jeff Dorman
@jdorman81
23h
The best returns have been apps that have moved up the value capture framework, not L1s. There is still no evidence that L1 tokens benefit in any way from underlying network usage. An L1 only benefits if they also own the stablecoin fees and DEX fees. An L1 by itself has little
Matt Hougan
@Matt_Hougan
Nov 3
People write off crypto projects that aren’t yet focused on value capture, not realizing that can change over time. Some of the best returns of the last year have been in projects moving up the value capture framework.
Quote
Kyle Samani
@KyleSamani
Nov 3
step 1 - win step 2 - profit
5
Jeff Dorman
@jdorman81
Oct 30
Coinbase finally beat earnings after 4 quarters of whiffs, and $COIN stock falls 15% anyway because of Binance and tech stocks. Market just doesn’t buy the story anymore. High fee retail trading is dead, and the rest of the business is just a conglomerate of low growth, low
Wall St Engine
@wallstengine
Oct 29
COINBASE $COIN Q3’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $1.22B (Est. $1.23B) 🔴; -35% YoY 🔹 EPS: $2.51 (Est. -$0.06) 🟢 🔹 Transaction Rev: $590M (Est. $527M) 🟢; -44% YoY 🔹 S&S Revenue: $570M (Est. $561.5M) 🟢; -20% YoY 🔹 Adj. EBITDA: $332.9M (Est. $290.2M) 🟢; -58% YoY 🔹 Net
32
Jeff Dorman
@jdorman81
Oct 27
Great quarter for $GLXY and mgmt said most of the right things. This stock is insanely cheap IMO no matter how you slice it. Unfortunately, the market continues to think GLXY is just a derivative of $CRWV The correlation between the two has never been higher. In order for
16

Jeff Dorman

Jeff Dorman’s posts