Bankless Founder Hoffman's $1.4M Ethereum Sale Now Looks Like Genius Move

David Hoffman, co-founder of Bankless and a vocal Ethereum evangelist for six years, made headlines recently when he revealed selling his last bit of ETH. Three months later, he emerged as one of the biggest winners in the market.

Hoffman deployed the funds from his ETH liquidation into several assets, including VVV (Venice AI's governance token), NEAR, ZEC, and HYPE. He also set aside 50% of the capital for dollar-cost averaging purposes, which ultimately went into LIT (Lighter, a zkRollup-based on-chain perpetual exchange token).

Hoffman's investment thesis for LIT was based on its unique features, such as faster buybacks, transparency premium from zk verification, and user migration potential from lower fees. He also believed that exchanges are the best business model in crypto.

Over a three-and-a-half-month period, Hoffman's portfolio returned around 90-120%, significantly outperforming ETH's 17% gain.