As the investment giant Tiger Global funneled cash into private tech companies in 2021, one move stood out: a bet on Braintrust, a crypto-powered recruitment platform. In return for its investment, Tiger didn’t receive shares of stock but millions of digital tokens.
The tokens, known as BTRST, serve as a currency and reward system for Braintrust users. But the Silicon Valley startup also sold hoards of them to investors like Tiger on the condition they agree to multi-year lock-up periods—an arrangement designed to ensure investors don't dump their holdings and depress the price.
