8 MINUTE MARKET STRUCTURE SERIES

On Episode 17 of 8 Minute Insights, Richard Johnson is joined by a very special guest, Max Harris. Max is the CEO of Ticker Markets. We discussed his approach to finding liquidity and other trends in the market including:

* 2021 presented a greater-than 100% increase in the secondary market overall, with an 156% growth in the LP secondary market - Jefferies

* Over $65B was raised in secondary funds during 2023 alone according to Pitchbook

* Private equity LPs are starting to see secondaries as the standard exit, and VC GPs are beginning to utilize them as a regular process as well - Coller Capital

* Data on the overall size of the market from Pitchbook

On this special Episode 16 of 8 Minute Insights, Richard Johnson is joined by a very special guest, Gabriel Sadoun, who runs business development for DigiShares here in the US.

Richard and Gabriel discuss the recent announcement that DigiShares is partnering with Texture to provide secondary trading capabilities to clients of their white-label investor management platform and enable issuers to list their security tokens on RealEstate.Exchange (RE.X).

“We are delighted to be partnering with Texture Capital to enable on-chain peer-to-peer trading of securities in the U.S. The key to creating liquidity, value, and democratization in the RWA market is providing a trading venue where investors can seamlessly and compliantly trade securities. The combination of Texture’s robust compliant platform and ATS with our investor management and trading infrastructure enables us to do just that.” Gabriel Sadoun, DigiShares

On Episode 15 of 8 Minute Insights, Richard Johnson spoke with Oscar Jofre, Founder and CEO of KoreConX, the all-in-one platform that manages private companies' capital market activity and stakeholder communications.

Oscar speaks about how he was inspired to start KoreConX by David Weild, the “Father of the JOBS Act”. “He inspired me… as an entrepreneur we needed a new way to raise capital”.

And also:

“Venture capitalists are not going to be funding… for the next 18 to 24 months you need to find a different way to fund your company if you want to stay in business. Online capital formation is an alternative way to fund your company. You need to pay attention to what these regulations can do for you. You can raise $5mm [Reg CF] or $75mm [Reg A+], and that will go a long way to building your company.” - Oscar Jofre, CEO KoreConX

On Episode 14 of 8 Minute Insights, Richard Johnson spoke with Benjamin Upward, Chief Investment Officer for the ChainLogic Fund about the recent Ethereum merge, and what it means for Ethereum and the crypto space overall.

Here's a preview of Ben’s interview:

"Ethereum switched in mod air from Proof of Work to Proof of Stake, and it seems like they pulled it off:"What you're paying the stakers to run the network is far far less than what you had to pay the miners, so the inflation rate of Ether is now close to flat.”

"It was a little bit, 'buy the rumor, sell the news' but there is also a massive macro raincloud over everything right now” - Ben Upward, CIO at ChainLogic Fund

On Episode 13 of 8 Minute Insights, Richard Johnson speaks with John Nance, CEO of Deal Box - a specialty consulting firm focused on capital markets strategy and technology.

Here is a preview:

“Every time there is a market disruption, I ask: what is it that we missed?... One of the things that has really concerned me is excessive risk taking and leverage…I look at Warren Buffet’s comments around derivatives being financial weapons of mass destruction… well crypto has basically done that on steroids" -- John Nance

On Episode 12 of 8 Minute Market Structure, Richard Johnson speaks with Jay Biancamano, Managing Director and Head of Tokenization at State Street’s digital division.

Here is a preview:

“Market structure has come into play in the crypto space; and it’s a very attractive market.” “It doesn’t have what I call the ‘CBBO’ crypto best bid and offer.” “Future looking market structure…what happens when traditional assets start to trade on blockchain?” “Tokenization is where the market is moving.” -- Jay Biancamano

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