On behalf of the entire CfPA Summit team, we can’t wait to see you at the Summit on Wednesday!

We're welcoming investors, issuers, regulators, and industry leaders. This is THE place to be if you are interested in Regulated Investment Crowdfunding!

For all attendees, please arrive a few minutes EARLY to avoid lines and grab a good seat.

Doors open at 8:15!!

Grab breakfast and find a seat so you don’t miss any of our awesome content!

We’ll be at the National Union Building (918 F St NW, 6th Floor)

1 block from Gallery Place–Chinatown Metro.

2 blocks from Metro Center.

Nearby parking garages: Atlantic Parking (610 9th St NW) or Colonial Parking (555 11th St NW).

CHECK YOUR EMAIL
If you're registered, check your email for all the details.

If you don’t have your ticket yet, it’s not too late! Here is the link to register: https://events.humanitix.com/regulated-investment-crowdfunding-summit-2025

In recent months, investment platform Republic has announced plans to offer “Mirror Tokens” - digital instruments that track the economic performance of private companies such as SpaceX, Anthropic, Epic Games, Ramp, Canva, and Databricks. These tokens, like rSpaceX, do not provide ownership or voting rights, but instead offer a contractual claim tied to future liquidity events (e.g., IPOs or acquisitions). Marketed under Regulation Crowdfunding (Reg CF) with minimum investments starting at $50, Mirror Tokens enable retail investors to gain "exposure" to companies that are typically off-limits. As of early August 2025, Republic has listed 24 Mirror Tokens, with four currently open for reservations - raising pressing questions about how such synthetic products align with Reg CF’s purpose and its framework for investor protections (Crowdfund Insider, Axios).

Industry reporting and analysis offer a mixed yet critical picture:

• ValueTheMarkets emphasizes that while Mi

In recent months, I've been giving thought to the best way to do a $5 million Reg CF campaign, starting with very little upfront spend. It seems to me, there are two possible paths. Path one is to begin with a small (under $124,000) raise with a low initial closing threshold, say, $25,000, and later amend the Form C, using funds from the initial raise to fund legal, accounting and marketing expenses for rolling forward. The alternative path would be to do a series of independent raises, the first one very small and building, still with the goal of raising $5 million in 12 months.

I tasked Google Gemini with a deep research project to compare and contrast the regulatory and best practices for the two approaches. Here is the full report. Below is an executive summary. I'm curious now to get the opinions of experts like @Brian Christie, @Jenny Kassan, @Craig Denlinger and @Sara Hanks on this topic, but eagerly welcome feedback from everyone.

Executive Summary

This report evaluates tw...more

As a venue for industry networking, the Crowdfunding Professional Association (CfPA) occasionally highlights the participation or biography of our association members. CfPA membership is designed to be inclusive and open to individuals and organizations sharing a professional interest in the field of Regulated Investment Crowdfunding.

Interview With Andrew Field 

CfPA: Can you tell us a little about your background and your interest in the field of regulated investment crowdfunding? 

Andrew: I’ve spent much of my career at the intersection of innovation, entrepreneurship, and finance -  with a particular focus on how technology can democratize access to capital. My current role is with a crowdfunding technology provider (Dacxi Chain) but I have joined the CfPA in my capacity as Steering Committee Lead for the Global Equity Crowdfunding Alliance (GECA) which  brings that all together. GECA exists to connect stakeholders across borders and drive ...more

Summary: This article is a detailed summary of John Reed Stark’s “Blockchain’s Inconvenient Truth (Apples and Bowling Balls),” which critically examines the myth that enterprise blockchain adoption validates the broader crypto ecosystem. The original article can be found here.

Summary of "Blockchain's Inconvenient Truth (Apples and Bowling Balls)" by John Reed Stark

In his sharply critical piece, John Reed Stark dismantles the prevailing hype surrounding blockchain technology, especially its enterprise use cases, calling much of it “innovation theater.” While surveys and headlines claim widespread blockchain adoption among Fortune 500 companies, Stark argues that these are typically private, permissioned systems that offer no real innovation over traditional databases—and have little to do with crypto. He likens the conflation of blockchain and crypto to comparing "apples and bowling balls."

Stark details how numerous blockchain initiatives by major firms, from insurance consortia to f...more

I’ve spent years immersed in the world of impact investing, and if I sound a little fired up today, it’s because I am. The traditional capital markets continue to overlook brilliant, diverse entrepreneurs—especially those working in and for their communities. That’s why I’m passionate about regulated investment crowdfunding (Regulation Crowdfunding or Reg CF, particularly). It’s not perfect, but it’s the most promising tool we have to democratize access to capital, empower underrepresented founders, and reshape our economy from the ground up. Here are just a few of the reasons I believe so deeply in this movement:

1. Democratization of Capital
   Reg CF breaks down barriers that historically excluded all but the wealthy from investing in private ventures.

2. Access to Overlooked Founders
   Traditional VC overlooks diverse founders; Reg CF helps level the playing field by allowing the crowd to support talent the system ignores.

3. Rooted in Community
   Reg CF enables investment in local businesses a