Hedge fund vet Dan Tapiero has invested more than $650 million into crypto’s largest companies

The number of crypto unicorns — those valued at above $1 billion — is growing at a breakneck clip, drawing the interest of investors like Dan Tapiero.

Tapiero, a veteran of the macro trading world, launched 10T in 2019 as a vehicle for traditional investors to get exposure to equity in crypto firms with a valuation above $500 million. Such an investment might not provide the 100x return a venture capital investor might look for when flipping a token, but it is a less risky way for pension funds and endowments to get exposure to crypto’s upside.