A Letter from our CEO
Since joining Ether Capital, I’ve spent the majority of my time seeking the right opportunity to invest our capital that aligned with our mission to give investors access to what we believe is one of the most important technologies of our time. I made a promise to myself and to all of you that we would leverage the Ether Capital brand and team to get access to opportunities that aren’t available to others.
Today we announced just that – a US $1.5 million investment in Wyre, a San Fransisco based exchange and developer platform. Ether Capital is co-investing alongside an amazing partner Pantera Capital and other industry leaders in a business that some of the biggest investors couldn’t access.
During my years in the crypto space, many have tried to convince me to start an exchange, and this continued after I joined Ether Capital. It would have been an easy decision to make but something was missing. And that is the element that Wyre brings to the table. Wyre is much more than just another cryptocurrency exchange. They are focused on global compliance and wrapping that heavy lifting into an API that any developer can easily integrate in just a few lines of code. It’s the “Stripe for Crypto.” The potential here is to own not just one exchange in a specific region, but a platform that developers around the world can leverage and use. I believe this investment is a diamond in the rough and will generate substantial returns for Ether Capital shareholders.
I recognize the capital markets have been difficult for this asset and our share price has been weak. Like you, I have experienced the frustration of lower prices and valuations in the ecosystem. However, I can tell you despite the capital markets’ view of the space, I only see the incredible improvements to the technology that are occurring on a daily basis. To many, Ether is just another cryptocurrency, an alternative to Bitcoin and all the other tokens. But to me, it’s something far more special. In a world of data breaches, hacks and privacy concerns, it’s the technology that has the best potential to fundamentally rearchitect the fabric of the internet. That potential is what first excited me in 2014, and as I see development continue to progress in the ecosystem, I’m even more excited now.
In my opinion, the asymmetric upside of this investment has never been more evident. We believe the Wyre deal will be a big win for shareholders.
Thank you for your continued support.