Crypto industry saw a number of funding rounds in Q1 amid a noteworthy uptick in prices of Bitcoin and other cryptocurrencies. With U.S. spot Bitcoin ETF recording substantial buying and grabbing major attention globally, venture capital firms eyeing a piece of the growth but remain cautious of the sustainability of rising valuations.
Crypto.com chief executive officer Kris Marszalek revealed their venture capital arm is dubious about the sustainability of surging valuations in the sector.
Crypto Fundraising and Scaling Back by Crypto.com Capital
Crypto.com Capital, venture capital arm of the crypto exchange Crypto.com, pulled back its investment activity over the past 18 months amid a bear market, reported Bloomberg. The VC firm took a stay-back-and-look approach despite a crypto market recovery.
Kris Marszalek said “We want the financial return. At this moment, valuations being thrown around by project teams are very generous.”
Crypto.com Capital had invested $500 million into st
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