Introduction When investors evaluate a company, they often want to know one simple thing: how much real cash the business actually generates. One useful metric that helps answer this question is the Price-to-Free Cash Flow (P/FCF) ratio. It shows how much investors are paying in the market for each unit of cash a company produces. What is the P/FCF Ratio? The P/FCF ratio compares a company’s market value to the amount of free cash flow it generates. Free cash flow is the cash

What Was Vauld? Vauld was a Singapore-registered, India-founded crypto lending and exchange platform offering retail users up to 12.68% APY on crypto deposits Bitcoin, ETH, stablecoins by lending those funds to institutional borrowers. Backed by Coinbase Ventures and Peter Thiel's Valar Ventures, it raised $27M in Series A funding and grew rapidly among Indian crypto-native users. Why Did It Collapse? Three forces converged. The Terra/Luna implosion of May 2022 triggered a ma

What was Mt. Gox? Between 2010 and 2014, Mt. Gox wasn't just a Bitcoin exchange , it was Bitcoin's front door to the world. Originally a trading platform for gaming cards, it was repurposed by Jed McCaleb and later handed to Mark Karpelès. At its peak, Mt. Gox processed over 70% of global Bitcoin transactions, functioning as the primary fiat-to-crypto gateway at a time when no real infrastructure existed.   Why it mattered? Early crypto lacked regulation, audits, and institu

Introduction In last six months alone (Between September 2025 and February 2026), 173 funding rounds totalling $1.48 billion reshaped the web3 investment landscape. This is institutional capital making deliberate, decade long bets. What's Happening Three narrative themes dominating the venture capital flow: regulated payments infrastructure (Rain $250M, Zero Hash $104M, Fnality $136M), maturing DeFi with real revenue mechanics (Flying Tulip $200M, Lighter $68M), and the explo