Maelstrom

Managed by the family office of Arthur Hayes (co-founder, BitMEX), Maelstrom is building a long-term portfolio across Venture, Liquid, Private Equity, and Public Markets, focused on infrastructure companies and assets that will form the foundation of the next wave of trustless decentralization. We back high-conviction opportunities ranging from early-stage equity and token investments to private and public market positions, bringing to each cap table the experience, relationships, and resources of having built one of the industry’s first profitable unicorns from the ground up.

Elizabeth A. Kuhns

Founder, COO and Owner

Past deals in Ethereum

Gata

Seed Round in 2025
Gata is a technology company that specializes in the development of artificial intelligence (AI) platforms. Its primary product is a decentralized data platform that leverages token-based incentives to reward data contributors. This platform facilitates conversations with AI models like ChatGPT and utilizes decentralized storage networks to monetize these interactions. The company's core mission is to enable users to conduct research and produce frontier data, thereby translating AI research into large-scale data production.

Neptune Protocol

Seed Round in 2024
Neptune Protocol operates a decentralized borrowing platform, facilitating secure and efficient liquidity access for users. It achieves this by allowing customers to deposit multiple cryptocurrencies as collateral, offering low lending rates and issuing loans in its native stablecoin. This enables users to unlock liquidity from their collateral without selling their underlying assets.

Magma

Seed Round in 2024
Magma is a decentralized liquid staking protocol built on the Monad Network, an Ethereum-compatible Layer 1 blockchain.

Solayer Labs

Seed Round in 2024
Solayer Labs operates a re-staking network that builds upon the Solana blockchain, extending its capabilities to secure additional systems and enable horizontal scaling. By leveraging the economic security of SOL tokens and sharing Solana's validator network, Solayer allows application developers to achieve a higher degree of consensus and customize block space, enhancing the efficiency and versatility of decentralized cloud infrastructure.

Ethena

Seed Round in 2024
Ethena provides derivative infrastructure in order to transform Ethereum into the first crypto-native yield bearing stablecoin.

Rated Labs

Series A in 2023
Rated Labs is a Web3 infrastructure company that provides granular data on validators and node operators to help users compare performance and understand the health of digital currency networks. Through an API-based data utility platform, Rated Labs offers independent third-party ratings for nodes and operators, robust data pipelines, and a comprehensive infrastructure dataset, enabling developers to analyze the crypto base layer and extract actionable insights about network reliability, security, and performance.

Ethena

Seed Round in 2023
Ethena provides derivative infrastructure in order to transform Ethereum into the first crypto-native yield bearing stablecoin.

ether.fi

Seed Round in 2023
ether.fi develops non-custodial Ethereum staking software that enables users to retain control of their private keys while delegating staking to node operators. The platform distributes staking activities to operators in exchange for rewards, allowing participants to earn staking yields without surrendering custody. The software emphasizes decentralization and security by keeping keys under user control, rather than with third parties. In addition to core staking capabilities, ether.fi offers a non-custodial financial product that provides access to membership rewards through a non-custodial card, enabling holders to participate in rewards without compromising key ownership. By combining software-level control with delegated staking, ether.fi aims to simplify participation in Ethereum staking while preserving user sovereignty over keys.
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