Xin Jiang 's Investment Thesis
Hello! I'm Xin.
I believe the success of a great company stems from seizing the right timing（天时）and having a profound understanding of industry cycles（周期）.
A founding team with strong entrepreneurial spirit is far more pivotal to a company's success than its business model.
Above all, success is often greatly influenced by fortune.
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Luckily, we are all living in an era profoundly reshaped by technological innovation.
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Sharing thoughts on X
Writing blogs
About Xin
I have been in the crypto investment space since 2018, starting at Fenbushi Capital, one of the earliest Ethereum backers, where Vitalik Buterin served as an advisor. Beyond Ethereum, we spearheaded investments in projects like Polkadot and Filecoin. As an Investment Manager, I also led deals for Dapper Labs (the first blockchain gaming studio) and FalconX (a leading broker service provider) while personally investing in Mask Network (a Web3 social protocol).
In late 2019, I joined Binance’s investment arm, Binance Labs, where I led its Launchpad/Launchpool initiatives and focused on early-stage investments. During the 2020–2021 bull market, I spearheaded the token launch of Axie Infinity, which achieved an all-time high ROI of 1643.35x, making it the most profitable project in Binance history. Additionally, I led investments in other notable projects such as Arbitrum, Injective, Sandbox, Moonbeam, and Dodo.
After leaving Binance in 2022, I transitioned to venture capital at a dedicated Web3 VC fund. There, I led investments in projects like Unisat (the largest Bitcoin inscription wallet), Pudgy Penguins (a leading NFT consumer brand), and Scroll (a ZK-Layer 2 scaling solution). In 2023, I was among the first VC investors to highlight the over-investment in infrastructure projects and predict that meme tokens would drive the next bull cycle.
I occasionally blog, frequently share hot takes (and shitposts) on X, and am a tennis enthusiast, stand-up comedy fan, and aspiring rap singer. Currently holding BTC, ETH, and SOL.
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Fun Facts
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Bought Bitcoin for the first time in 2017 at $4,000 and Ethereum at $300.
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Submitted an investment committee (IC) proposal for Solana at a $70M valuation in 2019, though it was ultimately rejected.
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Delivered an internal training session at Binance in early 2020, educating staff on "What is DeFi."
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Lost over 100 Ethereum in an on-chain DeFi protocol hack and was unable to recover the funds.
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Participated in several calls with SBF during FTX's fundraising efforts and advised buying FTT tokens instead of investing in FTX equity—a decision that proved to be entirely accurate. Also withdrew all my funds from FTX just one day before its collapse.
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In 2023, I advised the fund I worked with to purchase as much USDC as possible during its depeg, a decision that yielded a 10% return in less than a day. I also recommended buying Bitcoin at $20,000, which has since delivered at least a 5x return.