Michael Steinberg // @Mike9MS

I’ve seen some things. Reciprocal Ventures https://t.co/lFEKj7WW5d @recvcx Joined October 2012

Tweets

1K
Followers

443
Following

3K
Likes

7K

Michael Steinberg // @Mike9MS

a week ago

@StopAntisemites What a loser

0 0 0 15 0

View Details

@ColeMacro Cmon. These are preferred equity instruments Putting the word “digital” in front of “credit” doesn’t make it debt You do not have the rights of a debt holder (unfortunately) Just because Saylor calls it digital credit doesn’t make it so, im sorry he did that to you

0 1 4 617 0

View Details

Michael Steinberg // @Mike9MS

a month ago

@Ryan__Barney @hiFramework @pythianism Congrats Ryan, I'm sure you'll continue to crush it !

0 0 0 125 0

View Details

Craig Burel @CraigBurel

2 months ago

Excited to share that Reciprocal co-led the Series A extension for @Blockworks_ alongside @paraficapital. Here's why we believe Yano and Mike are building the Morningstar for crypto. This industry is at an inflection point. The technology works. Regulation is finally catching up. Institutions are showing up. The thing standing in the way of real scale isn't any of the old excuses anymore. It's the trust gap. Most crypto businesses haven't done the work to earn investors' trust. And investors don't have the information they need to underwrite the asset class with conviction. That's the bottleneck. Solve it, and a lot of capital starts moving. Here's the bigger picture: every capital market in the world is moving onchain. Stocks, bonds, currencies, commodities, real estate, and tokens. All of it, on public blockchains, trading 24/7, globally and transparently. We've believed this for years and it's no longer a fringe view. In every mature capital market, the information layer is one of the most valuable parts of the system. Bloomberg, S&P, Moody's, Morningstar, FactSet, CapIQ, Refinitiv, Broadridge. These businesses help investors underwrite and help issuers tell their story. They're often worth more than the assets they cover. Crypto deserves its own version of that layer. Built natively for onchain markets with AI from day one. Blockworks is building it. Three products are doing the work today: Data. One of the largest data platforms in the industry. Trillions of rows across 100+ pipelines, ingesting from nearly 100 sources, with fully indexed blockchains and direct feeds from a dozen-plus major exchanges. Hundreds of companies and funds run their workflows on top of it. Investor Relations. Blockworks IR is the first full-stack IR platform built for onchain businesses. Branded portals, curated analytics, quarterly reports, the whole stack. Solana, BNB Chain, and Jito are live. Many more are on the way. Disclosures. The Token Transparency Framework is becoming the standard. 30+ issuers rated today, 200+ by year end. Presented to both the SEC and the CFTC. Active integration conversations with every major exchange. This is what mandated token disclosures will look like. But a great product isn't enough. Winning this market requires trust, and Blockworks has spent years earning it from crypto teams, financial institutions, and large enterprises. This has become a differentiator and a distribution advantage. Customers are telling Blockworks what to build next, and they are delivering. As a result, ARR has grown more than 10x since their last raise. Couldn't be more pumped to back @JasonYanowitz and @MikeIppolito_ for what's next!

Blockworks @Blockworks

2 months ago

1/ Blockworks has raised a Series A extension at a $192M valuation. This allows us to double down on our mission to build trust in onchain markets. Thank you to all of our customers, we couldn’t have done this without you.

46 41 288 96K 38

8 9 59 7K 4

View Details

Michael Steinberg // @Mike9MS

3 months ago

@MrHasty3 Lastly, no upstream supplier in this space has ever generated margins even close to 80%. So you can believe what they say or trust the historical empirical data. I know what works for me.

1 0 1 64 0

View Details

Michael Steinberg // @Mike9MS

3 months ago

@MrHasty3 While margins can improve with tighter power markets or better contract terms, they are unlikely to approach extreme levels like 80% on a sustained basis, given the more competitive and capital-intensive nature of an infrastructure layer.

0 0 0 22 0

View Details

Michael Steinberg // @Mike9MS

3 months ago

@MrHasty3 Galaxy’s margins will be structurally constrained bc they sits upstream as a supplier; its pricing is embedded as a cost for customers like CoreWeave and reflects infrastructure economics and lack end-market pricing power.