By Lisa Pauline Mattackal and Medha Singh (Reuters) - For venture capitalists, the scars of bitcoin's disastrous 2022 run deep. While breezy bitcoin ...
- For venture capitalists, the scars of bitcoin's disastrous 2022 run deep.
"The lofty exuberant valuation days are gone," said Tal Elyashiv, founder and managing partner of SPiCE VC, adding that valuations place on crypto companies had fallen closer in line with their actual performance. "Almost every company in the space tightened up in the aftermath of the carnage of 2022. Those that are raising capital now are probably doing it because they have to," said Adam Reeds, CEO of Toronto-based crypto finance company Ledn.
A year ago, the focus was on companies tied to speculative non-fungible tokens, as well as metaverse and Web3 projects that sought to build a future - but still unrealized - iteration of the internet with crypto at its core.
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