DCF GOD
Went to war with DAO teams over their treasuries in 2023, backed ether.fi, Ethena, pump and Derive, then sold a Charizard for $1M.
- Est. PnL
- ~$40M
- Location
- Canada
- X signup
- Bet $238,000 to win $17M if ETH reaches $7,000 by March 2027, on Derive, the venue he calls “Hyperliquid of options”
- Seeded ether.fi and Ethena, backed Pumpfun, all three later valued at over $1B, and now bets on USDAI, saying crypto degens looping on Morpho will fund the AI boom
- Spent three years sleeping on the floor of a one-bedroom apartment on a $60,000 salary, building a startup that failed
- Owns 1% of Grass worth $6.9M; a protocol that pays people for their unused internet so AI labs can scrape web data
- Got blocked by Nouns members for attacking a six-figure backflip, and walked away with $1.6M when the DAO's treasury split
- Made $700,000 selling a first-edition Charizard for $1M on Beezie, a card marketplace he backed
Notable trades
Venture
2023 to 2025
3 topped $1B
Seeded ether.fi and Ethena; ether.fi peaked near $8.5B in March 2024 and Ethena is worth about $2.6B. The fund also holds locked Pumpfun tokens and Derive's DRV, up from $0.04 to $0.38 this year. Other backings include Berachain, Hyperbeat, USDAI, infiniFi, Beezie, Initia, Solayer and Suilend. Check sizes were never published.
CRV
Aug 2023
~$1.3M est.
4.25 million CRV from Michael Egorov at $0.40, about $1.7M, in the round he sold to cover his loans after the Curve exploit. He swapped it straight into cvxCRV, then trading below CRV, for about 30% more. At the roughly $0.55 CRV fetched when his three-to-six month lockup ended, that is about $1.3M of profit. He never posted an exit.
Nouns
Sep 2023
~994 ETH out
Held 28 Nouns, bought for less than the ETH behind each one while he attacked the DAO's spending. On 8 September 2023 he posted that over 20% of supply had signalled to leave, which made the fork certain. 472 of 846 Nouns left with 16,757 ETH, about 35.5 ETH a Noun, so his 28 came out as roughly 994 ETH, about $1.6M at the time.
DRV
Sep 2026
~$17M max
8,600 ETH 5000/7000 March 2027 call spreads on Derive for about $238,000 in premium: roughly $8.3M if ETH is at $6,000 at expiry, about $17M at $7,000, and the premium written off below $5,000. He posted it against a 5x perp that would need about $4M of collateral and pay funding. DCF Cap seeded Derive when it was Lyra and holds DRV.
Charizard
Sep 2026
+$700k
A PSA 10 first-edition Charizard bought for $300,000 in 2025 and sold on Beezie for $1M to the collector kato14, which he called the highest price for that card and for any Pokémon card sold onchain. DCF Cap seeded Beezie.
GRASS
Sep 2026
Open
Almost 1% of all GRASS, about 10 million tokens worth about $5.5M when disclosed and about $6.9M at $0.69 on 29 September 2026, bought over several months. The team says the company's equity is worthless and all the value goes to the token.
Trading style
Deep value on a cash basis, learned in the Yearn and Curve ecosystem that brought him into DeFi. He buys tokens, DAOs and NFTs trading below the cash, fees or book value behind them, then closes the gap through governance and public argument: proposals, forks, redemptions and buybacks. His premise is that the base case for every token is scam and you need to prove not scam, and a programmed buyback is the proof. He will not buy a token when the investors behind it also took shares in the company. His test: if the VCs won't buy the token without getting equity why should you.
He takes crowd panic as an entry rather than a warning, sizes the discount trades, and holds narrative bets as moon bags. A respected DeFi user depositing his own money counts for more than a fund on the cap table. Where the upside is one large move he buys defined premium over leverage, since massive -50% candles before doing multiples are the expectation.
Quotes
“If you're seeing me around, your project's probably pretty cheap, and if you're not seeing me around you're paying too much.”
“There's 10% of the time when CT is fudding the hell out of something and it's real. The other 90% it's opportunity to buy.”
“The math, as it has always been in every great deep value trade in history, is the only thing in this industry that has not lied to me.”
Interviews
Contributors
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