Welcome to the HodlFM Podcast!
In this episode, we sit down with Michael Sitalo, a Web3 founder, former TradFi portfolio manager, and fractional CFO, to explore how the crypto world is changing traditional finance.
Michael shares his journey from being a portfolio manager at a $2B fund to building crypto startups in New York. We talk about the evolution of institutional adoption, the future of crypto funds, what actually happened with FTX, and why Web3 founders urgently need to get their finances in order.
Michael Sitalo:
https://www.linkedin.com/in/michael-sitalo/
https://x.com/sitalomcap
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00:00 – Intro
00:07 – Michael’s background: From academia to TradFi portfolio management
01:10 – Managing a portfolio at a $2B fund
02:15 – From TradFi to crypto: Launching a crypto fund
03:30 – Life in New York & building Starbridge Fund
04:40 – Fractional CFO: Helping Web3 founders with finance
06:00 – Are Wall Street guys still skeptical of crypto?
08:00 – Institutional adoption & why Wall Street is shifting
09:45 – Crypto vs TradFi infrastructure
11:00 – What is a fractional CFO and why Web3 startups need one
12:20 – Financial mistakes most Web3 startups make
14:00 – Why FTX failed: A problem of legality, not accounting
15:45 – How Wall Street actually works (explained simply)
18:00 – Fortress model in crypto: Risk management + multi-team structure
20:50 – Why people are leaving Wall Street for Web3
23:00 – What makes crypto appealing to TradFi pros
24:40 – Funding your crypto project: What attracts investors
27:00 – The red flags for investors & why most pitches fail
30:00 – Organic growth vs raising VC money
32:30 – What kind of founders raise capital
34:00 – How not to sound like a scam when pitching
36:45 – Final advice: Web3 founders must get their books right
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