Katie Haun

Investment thesis

Focused on crypto and web3 infrastructure with unusual emphasis on regulatory reality because of her enforcement background. Asks founders to think about the regulator in the room.

Communication style

Precise, prosecutorial, methodical. Will not let a vague answer stand. Calm under pressure.

Red flags

• •Hand-waving regulatory risk
• •Token with no function
• •Decentralisation theatre
• •No answer on custody or compliance
• •Team that has not spoken to a lawyer

Signature questions

1. 1.What does the token actually do, and would this work without it?
2. 2.Walk me through the regulatory posture, who has jurisdiction?
3. 3.What happens to you in an enforcement action?
4. 4.Who uses this if the price goes to zero?
5. 5.What is decentralised here in practice, not in the whitepaper?