“You’re seeing a lot around AI, not only empowering these businesses, but VCs investing at that intersection because the incentives make sense together.” – 02:26
Remy Blaire engages in a compelling discussion with Anthony Vassallo, the Senior VP of Crypto at Silicon Valley Bank, live from the Money20/20 U.S. in Las Vegas. The segment opens with significant news in the financial sector, highlighting JPMorgan Chase’s decision to accept Bitcoin and Ethereum as collateral for loans by the end of the following year. This announcement marks a notable shift from CEO Jamie Dimon’s previous critical stance on cryptocurrencies, indicating a broader acceptance of digital assets among major banks.
Remy and Anthony delve into the factors driving the growth of crypto, noting that clients are increasingly confident in raising capital and making announcements due to improved regulatory clarity. Anthony emphasizes that venture capitalists are not merely speculating but are actively investing in projects that demonstrate real utility, particularly at the intersection of blockchain and fintech. He points out that despite general headwinds in venture capital, there are significant tailwinds in this sector.
The conversation shifts to the evolving categories within the crypto space, with Anthony humorously suggesting that PitchBook may need to recategorize investments as the lines between blockchain and fintech continue to blur. He discusses the growing interest in artificial intelligence (AI) and how it intersects with blockchain technology, providing infrastructure and trust that can enhance AI’s capabilities while addressing concerns about data privacy and censorship.