Hervé Larren, a former executive at luxury goods company LVMH, has become a prominent figure in the crypto industry. Larren’s journey into the world of cryptocurrencies began in 2013, during a period of hyperinflation in Venezuela. His mother, who lived in the country, asked him to send money to Caracas, but traditional bank transfers were not possible. Larren planned to fly to Caracas with cash but was advised by a friend to send Bitcoin instead.
This experience sparked Larren’s interest in cryptocurrencies, and he co-founded a large-scale crypto mining operation. He also worked with Grayscale to bring crypto assets to traditional investors. Larren later became a key adviser to ApeCoin and made the first million-dollar bid for a nonfungible token.
Larren’s upbringing was unique, with a Venezuelan mother and a French father. He grew up in Neuilly-sur-Seine, the wealthiest suburb of Paris, and was part of the high school student council while Sarkozy served as the local mayor. Larren’s mother was a TV host and the first Latina model signed by L’Oréal, while his father imported wine to Canada.
After completing his undergraduate studies in business, Larren joined Moët Hennessy’s New York office, where he worked on brand development. He pursued his MBA at Columbia University while working at LVMH and then entered the venture capital world with Peak Ventures. It was during this time that he first encountered Bitcoin and began accepting it at an e-commerce business he was involved with.
In 2015, Larren founded Global Crypto Ventures, a crypto mining firm with thousands of machines in Las Vegas and Texas. He also became involved with Grayscale and worked on the approval process for the Grayscale Digital Large Cap Fund (GDLC). The GDLC is a publicly traded investment vehicle that allows retail investors to gain exposure to a portfolio of cryptocurrencies.
Larren faced challenges during the approval process with the Securities and Exchange Commission (SEC), but the GDLC was ultimately approved. He argues that owning cryptocurrencies through a financial instrument is preferable for most investors due to the security and convenience it provides.
Larren is optimistic about the future of Bitcoin and believes that BlackRock’s application to launch a Bitcoin exchange-traded fund (ETF) in the United States will lead to increased institutional adoption. He expects the approval of BlackRock’s ETF to result in a rise in Bitcoin’s price.
Larren also became involved in the world of nonfungible tokens (NFTs) and was the first person to bid a million dollars on an NFT. He joined Horizen Labs and helped create ApeCoin, a token associated with popular NFT collections like Bored Ape Yacht Club and Mutant Ape Yacht Club. ApeCoin quickly became an $8 billion project and gained acceptance by luxury brands like Gucci and TAG Heuer.
Larren’s journey from the luxury goods industry to the crypto industry showcases the growing interest and opportunities in the world of cryptocurrencies and blockchain technology. He has played a significant role in bringing cryptocurrencies and NFTs to traditional investors and establishing their credibility in the financial industry.
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