February was a short but impactful month! A lot happened with DV portfolio companies and the crypto market as a whole.

In this edition of the DV monthly newsletter, we talk about:

• Kinto’s successful public sale

• Bitflow launches yield pools for sBTC

• Trump announces U.S. crypto reserve

• And more!

Let’s go!

Portfolio Company Highlights

Kinto hosts successful public token sale, DV investment up 10x

Kinto hosted one of the largest and fairest community token sales to date!

The public sale used an auction mechanism where participants bid their maximum price within a range of $10–$30 per token, and all successful bidders paid the same price, determined by the lowest winning bid.

Here are the results of the sale:

• Total # of bids: 3,514

• Money raised: $3.84M

• Final token price: $15

• Deep Ventures’ multiple on invested capital: ~10x in less than 2 years!

Next up - $K listing by March 31.

Read more about the token sale results on the Kinto blog.

Bitflow launches sBTC liquidity pools

Capitalizing on the recent sBTC launch on Stacks, Bitflow Finance has introduced innovative yield-maximizing opportunities on their platform.

Users can either mint sBTC directly on Stacks or swap BTC for sBTC on Bitflow. These sBTC tokens can then be added to various Bitflow liquidity pools, offering potential yields of up to 49.85% APY.

Check out the ways you can earn additional sBTC yield on Bitflow here.

Numbers Protocol forges multiple partnerships to grow their data provenance ecosystem

Numbers Protocol's business development team had a productive February, securing multiple partnerships to strengthen their media provenance ecosystem:

• AI Film Academy (AFIA): Signed a MoU to showcase Numbers' content verification solutions to journalists and media professionals globally at N3Con 2025.

• Asian American Journalist Association (AAJA): Launched collaborative initiatives including a speaker session, photo competition, and workshops designed to engage AAJA's trainer network and broader community.

• Pundi AI: Integrated Numbers' provenance-based authenticity framework with Pundi AI's data platform, enabling creators, developers, and users to confidently engage with verified digital content.

New Content

Mike on Kyle Chasse’s Twitter Space

I joined some heavy hitters such as Santiago Santos, That Martini Guy, and others on Kyle Chasse’s Twitter Space on Feb 26 to talk about the current market.

We talked about the state of the market (crappy), if alts will recover (maybe but no one knows), the death of memecoins and flight to fundamentals (hopefully), and much more.

Listen to the recording here.

Mik and Mike Crypto Cast

Check out the latest Mik and Mike Crypto Cast episodes below!

FYI we’ve added access to all the episodes to a playlist on the DV YouTube channel.

Feb 4 - Trump’s tariffs impact on the market, US sovereign wealth fund, more

Feb 11 - Berachain launch, regulatory updates, latest fundraises

Feb 17 - The insane launch of $LIBRA

Feb 24 - All about the ByBit hack

Let us know what you think of these episodes!

Industry News

Here are links to three of the biggest crypto stories of February and early March.

We discuss most of these in the Mik and Mike Crypto Cast episodes above, so give those a listen to learn more!

• Trump announces U.S. crypto reserve

• ByBit hacked for $1.4B, the largest financial hack ever

• $LIBRA wipes out billions in retail capital

Conclusion

We hope you enjoyed this edition of the DV monthly newsletter!

Hit me up at [email protected] or @mikewchan on Telegram with your thoughts about the newsletter, what’s happening in crypto, or anything else!

Talk soon!