Myth of Money: Who Let The Dogs Out?

Welcome to this week’s edition of the Myth of Money, a weekly newsletter on all things money, economics and technology read by 10,000+ investors, curated by Tatiana Koffman.

Disclaimer: The following is not intended as investment advice. Do your own research.


Dear Investors,

Last night was a historic moment as Elon Musk joined SNL as the night’s host, in a widely anticipated plug for Dogecoin.

Dogecoin, as ridiculous as it sounds, is the best-performing digital asset of the year. Worth less than 1 cent at the start of 2020, Dogecoin has become one of the most valuable cryptocurrencies, reaching an all time high of 70 cents, and a market cap of $77 billion, before tumbling downwards after Elon Musk called it a “hustle.”

Dogecoin started a wave of other meme coins, all of which have provided exceptional returns. Here are just a few examples:

  1. Shiba Inu (my personal choice)

  2. Husky Coin

  3. Akita

  4. Shiba Pup

  5. PooCoin

  6. And… I kid you not… “CumRocket” 🚀

There have been several arguments made in favor of Dogecoin as sound money, namely it’s distributed nature, and how it easier to spend than Bitcoin. But Dogecoin is much more of a social phenomenon than a technical one. It is the “people’s crypto”. Even Mark Cuban says he will allow the purchase of Maverick’s merch with Doge. But then again, crypto is the “people’s money”. Are we taking this too far?

After Doge crashed last night, Elon announced that the next SpaceX mission will be named “DOGE-1 Mission to the Moon.”

Are we in a simulation? At this point, anything is possible. 🚀🚀🚀🚀🚀🚀

As always, NOT FINANCIAL ADVICE, but this chart seems pretty accurate to me…


This Week By the Numbers 📈

Markets were booming across the board, with “meme” coins leading the pack. Cryptocurrency opportunities are quickly dwarfing the traditional markets.


💰 VIP Investor Opportunity: CoinMENA

This week I’m closing my seed investment into CoinMENA, a fiat-to-crypto exchange for the Middle East. CoinMENA is led by an incredible team and backed by leading investors including Sam Bankman-Fried’s Alameda Research. The business model is strikingly simple - think of CoinMENA as the “Coinbase of the Middle East.” The exchange is fully licensed in Bahrain.

Who is this opportunity for?

The round is oversubscribed and exceptions will only be made only for strategic value-add investors and influencers.

[Respond to this email with a request for an introduction.]


Top Stories  🗞 

A16z to Launch $1B Crypto Venture Fund

Andreessen Horowitz (a16z) is assembling a third crypto venture fund. Four people with knowledge of the process told the FT that a16z is looking to pull in between $800 million and $1 billion for the new fund. It could ultimately double the $515 million fund a16z last raised for crypto investments. The news comes in the wake of the Coinbase public listing, in which a16z was rewarded handsomely for its early support of the crypto exchange. A16z cashed out $449.2 million in COIN stock on behalf of its investors on April 14, the day the stock made its debut on Nasdaq. Read Full Story.

New York Giants Ink Sponsorship Deal With Grayscale in NFL First

The New York Giants team has locked down the National Football League’s first corporate cryptocurrency partnership, with Grayscale Investments. Grayscale is now the “Official Digital Currency Asset Management Partner of the New York Giants.” Under terms of the deal, Grayscale will provide “educational seminars on cryptocurrencies for Giants personnel each year.” In a statement, Giants Chief Commercial Officer Pete Guelli said the asset manager could guide the team “in navigating the cryptocurrency ecosystem.” Deep-pocketed crypto orgs have been piling into professional sports partnerships in 2021, most notably FTX, which landed the naming rights to the Miami Heat’s basketball arena for $135 million. Crypto.com also signed a sponsorship deal with hockey's Montreal Canadiens in March. Read Full Story.

Goldman Sachs Leads Investment in Crypto Firm Coin Metrics

Coin Metrics, a cryptocurrency and blockchain data provider to institutional clients, raised $15 million through investors led by Goldman Sachs Group Inc. The firm, founded in 2017, plans to use the proceeds to grow in Europe and Asia, create new products and expand current offerings. Mathew McDermott, global head of digital assets for Goldman Sachs’s global markets division. Read Full Story.

Novogratz’s Galaxy Buys BitGo in $1.2 Billion Crypto Deal

Mike Novogratz’s Galaxy Digital Holdings agreed to buy crypto custodian BitGo Inc. in a cash and stock transaction valued at about $1.2 billion. Galaxy is paying $265 million in cash and is issuing 33.8 million shares to finance the acquisition. BitGo shareholders will own 10% of the company. The deal broadens Galaxy’s offerings and geographic reach. “The acquisition of BitGo establishes Galaxy Digital as a one-stop-shop for institutions and significantly accelerates our mission to institutionalize digital asset ecosystems and blockchain technology,” Novogratz, Galaxy’s New York-based chief executive officer and founder, said in a statement. Read Full Story.


Product of the Week: GDA Lending

This week I’m giving a shout out to my friends at GDA Lending. Having recently worked on a loan with them, I can say that they offer the best rates for collateralized crypto loans at 4.5%, with the lowest counter-party risk. If you are looking to borrow against your BTC or ETH, ping me for an intro here.


Thank you for reading this week’s edition of the Myth of Money.🚀

Until next week,

Tatiana Koffman


By Tatiana Koffman

Hi there and thanks for reading. If you stumble upon my newsletter, you will notice that I write about money, economics and technology. I hold a JD/MBA and spent my career in Capital Markets working across Mergers & Acquisitions, Derivatives, Venture Capital and Cryptocurrencies. I believe in empowerment through closing the financial education gap and creating equality of opportunity for the next generation. Check out my articles in Forbes here.


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