Key Takeaways:
- Marco Santori, previously the Chief Legal Officer at Kraken, has taken on the role of General Partner at Pantera Capital.
- He is a prominent figure in crypto regulation, known for creating the SAFT framework and leading Kraken’s legal team through major regulatory challenges.
- At Pantera, he will focus on regulatory compliance, token structuring, and preparing companies for public offerings.
- Santori’s experience from both the exchange and venture capital sides makes him uniquely qualified to align innovation with legal compliance.
Career Background: From Blockchain.com to Kraken
Marco Santori’s career in the cryptocurrency sector began at Blockchain.com, where he served as Chief Legal Officer and advised on early token launches and exchange listings. He later joined Kraken, where he assembled and led a 70-person legal team. At Kraken, he oversaw global compliance, anti–money laundering initiatives, and two high-profile enforcement actions from the SEC. Under his leadership, Kraken managed to scale while staying ahead of regulatory developments, becoming one of the world’s top crypto exchanges.
The SAFT Framework: A Legal Milestone
Santori is well-known for introducing the SAFT (Simple Agreement for Future Tokens) framework, which provided a compliant way for startups to raise funds by selling future token rights to accredited investors. Although the model has its critics, it played a vital role in legitimizing early token sales and attracting institutional investors to the space. Today, SAFTs continue to serve as a foundational mechanism for pre-token sale financing.
Kraken’s former Chief Legal Officer Marco Santori joins Pantera Capital
Pantera Capital: A Pioneer in Crypto Investment
Founded in 2013 as the first investment fund dedicated to Bitcoin, Pantera Capital has grown into a multi-strategy firm managing over $5 billion in assets. The firm invests across a broad range of sectors—from Bitcoin and Ethereum to DeFi, infrastructure, and tokenized real-world assets. Its technical expertise and market acumen have supported major projects like Chainlink, Circle, and 0x, solidifying Pantera’s status as a trailblazer in digital asset investment.
Santori’s Role at Pantera
As General Partner, Santori will play a central role in shaping the legal strategies behind Pantera’s investments. His key responsibilities will include:
- Compliance Leadership: Crafting registration and licensing strategies for tokens and exchanges.
- Regulatory Due Diligence: Enhancing the review process to detect legal risks early.
- Policy Forecasting: Using his government network to anticipate regulatory shifts.
- Startup Support: Advising founders on tokenomics, governance, and IPO preparedness.
This appointment signals Pantera’s belief that regulatory expertise isn’t just about risk mitigation—it can also fuel growth.
Bridging Exchanges and Venture Capital
Santori will continue to serve as a Senior Adviser to Kraken while at Pantera. This dual role allows him to integrate up-to-date exchange practices—such as compliance automation and user protection—into Pantera’s investment strategies. In return, he can guide startups to scale their operations in ways that align with exchange and institutional standards.
