Showcase: Mangrove
Speakers/Moderators

Tim Darrah

Tim Darrah
Session
Overview
Tim Darrah, co-founder and CEO of Mangrove Technologies Inc., presented a brief showcase on Mangrove’s approach to Bitcoin-focused institutional finance. He described the company as building Bitcoin-native infrastructure and drawing on experience with complex systems, AI, aerospace, defense, intelligence, and other high-risk environments.
The talk focused on the difficulty of finding strategies that outperform Bitcoin. Darrah explained that Mangrove uses an open-source signal library to generate roughly 50,000 strategies per day and analyze performance across market regimes.
A key theme was that broad strategy searches produce very few strong results, while focusing on specific market regimes can reveal many more high-performing strategies. The showcase positioned Mangrove’s work around identifying where Bitcoin-related alpha may exist for firms considering Bitcoin as a strategic investment or treasury asset.
We are going to kick off the afternoon with a showcase from Mangrove, which is Mangrove Technologies, a Bitcoin-native infrastructure company building for the next wave of operators. Please help me welcome to the stage the co-founder and CEO, Tim Darrah.
Thank you.
Hello, everyone. My name is Timothy Darrah. I'm an Army veteran, a former NASA fellow, a professor at Vanderbilt University in the College of Connected Computing, and the co-founder and CEO of Mangrove. I've spent my career studying complex systems and building AI technologies for a wide range of applications, primarily in the aerospace, defense, and intelligence communities, dealing with safety-critical systems in high-risk environments. Financial markets share those two characteristics, and we want to bring a fresh perspective to institutional finance from a place that you wouldn't necessarily think to look.
Over the next two and a half minutes, I'm going to show you why alpha is also generally not where you would look. Beating Bitcoin is hard, obviously, and we've got well over a million reasons why.
As you can see, at Mangrove we build in public. We have an open-source signal library that we are using today to generate approximately 50,000 strategies a day. With this amount of data, we're able to do some pretty interesting things. We have built a model that can predict if a strategy will be successful or not before it even sees a single bar of market data.
But that's not what we're talking about today. Today, we're talking about finding high-performing strategies that outperform Bitcoin by 10%. Maybe we have high standards. Maybe there's just too much noise. But you can see when we go through these filters, 1.6 million strategies turn into 12. This is not the way to look for alpha.
Everybody is looking for alpha the wrong way. Do you ever feel like you're talking to someone and you have to ask them the same question over and over again until you finally get the answer you're looking for? This is no different. In 19 out of the 21 market regimes that we analyze, Bitcoin absolutely crushes everything in its path.
Again, no surprise. But when we look at these other two market regimes, we find 300 times the amount of high-performing strategies that don't just beat Bitcoin by 10%, but beat Bitcoin by 20% or more. Picture you're at a sold-out EDM rave playing Marco Polo. Everyone's yelling, lights are flashing, bass is booming, your head is spinning. You're yelling, "Marco." You're never going to win.
We don't play Marco Polo. We play hide and seek, and we're very good at it. If your firm is taking Bitcoin seriously, whether that's as a strategic investment or on your treasury, come find us at booth 1426 and see what we're up to today and how we can help. Thank you.
Thank you, Tim. Give it up one more time for Tim Darrah.
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Showcase: Mangrove

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Biography of Deputy Attorney General Todd Blanche
The Honorable Todd Blanche is the 40th Deputy Attorney General of the United States, overseeing the work of the 115,000 dedicated employees who fulfill the Department of Justice’s mission at Main Justice, the FBI, DEA, U.S. Marshals, ATF, and 93 U.S. Attorney’s Offices.
Todd began his career at the Department where he served for over fifteen years in a variety of capacities, including as a contractor, a paralegal in the Criminal Division, and at the United States Attorney’s office for the Southern District of New York where he eventually became an AUSA and later a supervisor.
After leaving the Department, Todd worked as a criminal defense attorney that included representing President Donald Trump in three of the criminal cases brought against him in 2023 and 2024.
Following President Trump’s historic return to the White House, the President appointed Todd to work alongside Attorney General Pam Bondi to make America safe again. At the DOJ, Todd is working tirelessly to implement President Trump’s priorities that include confronting illegal protecting American businesses from fraud.
Todd has been married to his wonderful wife Kristine for nearly thirty years, is a father and grandfather.

Paul Atkins

Paul Atkins
Prior to returning to the SEC, Chairman Atkins was most recently chief executive of Patomak Global Partners, a company he founded in 2009. Chairman Atkins helped lead efforts to develop best practices for the digital asset sector. He served as an independent director and non-executive chairman of the board of BATS Global Markets, Inc. from 2012 to 2015.
Chairman Atkins was appointed by President George W. Bush to serve as a Commissioner of the SEC from 2002 to 2008. During his tenure, he advocated for transparency, consistency, and the use of cost-benefit analysis at the agency. Chairman Atkins also represented the SEC at meetings of the President’s Working Group on Financial Markets and the U.S.-EU Transatlantic Economic Council. From 2009 to 2010, he was appointed a member of the Congressional Oversight Panel for the Troubled Asset Relief Program.
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From 1990 to 1994, Chairman Atkins served on the staff of two chairmen of the SEC, Richard C. Breeden and Arthur Levitt, ultimately as chief of staff and counselor, respectively. He received the SEC’s 1992 Law and Policy Award for work regarding corporate governance matters.
Chairman Atkins began his career as a lawyer in New York, focusing on a wide range of corporate transactions for U.S. and foreign clients, including public and private securities offerings and mergers and acquisitions. He was resident for 2½ years in his firm's Paris office and admitted as conseil juridique in France.
A member of the New York and Florida bars, Chairman Atkins received his J.D. from Vanderbilt University School of Law in 1983 and was Senior Student Writing Editor of the Vanderbilt Law Review. He received his A.B., Phi Beta Kappa, from Wofford College in 1980.
Originally from Lillington, North Carolina, Chairman Atkins grew up in Tampa, Florida. He and his wife Sarah have three sons.

Mike Selig

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Chairman Selig brings to the role deep public and private sector experience working with a wide range of stakeholders across agriculture, energy, financial, and digital asset industries, which rely upon and operate in CFTC-regulated markets.
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David Bailey

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Eric Trump

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Known as Congress' "Crypto Queen," Senator Lummis represents Wyoming — a state she has helped build into one of the most digital asset-friendly regulatory environments in the nation. Before serving in the Senate, she served 14 years in the Wyoming Legislature, eight years as Wyoming State Treasurer, and eight years in the U.S. House. She is a three-time graduate of the University of Wyoming.
Her work represents a crucial bridge between traditional financial systems and the emerging digital economy, ensuring America leads the world in financial innovation while protecting the individual freedoms that define it.

Adam Back

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Amy Oldenburg

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David Marcus

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Matt Schultz

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Fred Thiel

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Throughout his career, Mr. Thiel has consistently driven rapid growth and created substantial shareholder value. Prior to MARA, Mr. Thiel served as the CEO of two other public companies, Local Corporation (NASDAQ: LOCM) and Lantronix, Inc (NASDAQ: LTRX). He has successfully raised billions in equity and debt through private and public offerings, led companies through IPOs, executed high-value exits to strategic and financial acquirers, and implemented effective M&A and roll-up strategies.
Mr. Thiel attended the Stockholm School of Economics and executive classes at Harvard Business School, and is fluent in English, Spanish, Swedish, and French. Mr. Thiel is the Chairman of the Board for Oden Technology, Inc. and is active in Young Presidents’ Organization where he has led initiatives in both the FinTech and Technology Networks.
A recognized voice in the industry, Fred frequently shares his insights on energy and technology with major media outlets like Bloomberg TV, CNBC, and FOX Business, contributing to vital discussions about the future of these sectors.

Tim Draper

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He is a supporter and global thought leader for entrepreneurs everywhere, and is a leading spokesperson for Bitcoin and decentralization, having won the Bitcoin US Marshall’s auction in 2014, invested in over 50 crypto companies, and led investments in Coinbase, Ledger, Tezos, and Bancor, among others.

Afroman




