From Radical Transparency to Digital Sovereignty Since Bitcoin’s birth the industry has worshipped one totem: an open, immutable ledger that replaces institutional reputation with public verifiability. That transparency let a decentralized system enforce honesty without bosses. Yet the honeymoon is over. Mainstream adoption now depends on the exact opposite quality—confidentiality. Across culture, regulation and code, privacy demand is accelerating. At Pantera Capital we bet on this early, ba...

From Radical Transparency to Digital Sovereignty Since Bitcoin’s birth the industry has worshipped one totem: an open, immutable ledger that replaces institutional reputation with public verifiability. That transparency let a decentralized system enforce honesty without bosses. Yet the honeymoon is over. Mainstream adoption now depends on the exact opposite quality—confidentiality. Across culture, regulation and code, privacy demand is accelerating. At Pantera Capital we bet on this early, ba...