Crypto Venture is complicated. OpenX and you'll find two different stories being told at the same time.

One paints CryptoVCs as the primary beneficiaries of everything that's wrong with the token economy,

buying early, buying cheap, and then dumping on retail at the first real liquidity event.

The other says Venture is the only reason this industry exists in anything close to its current forms,

as and all the rest. And both stories are in their own ways directionally correct. Early capital usually debts better

prices. Many tokens did draw down hard after TGE's and without venture funding a lot of the

rails people say that they want, stable coin infrastructure, custody, compliance and payments

plumbing gets much harder to build.

All of this, we could stomach if crypto markets reliably priced coins based on fundamentals.

They don't. At least not consistently.

And if this bear market really is a great repricing towards distribution and value capture,

that matters a lot for everyone's bags.

I'm your host David Canellas. This is The Breakdown.

Let's get to it.

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all in one platform. Get started at necto.com slash breakdown. Nothing said on the breakdown is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes

only and any views expressed by anyone on the show are opinions, not financial advice. Host and guests

may hold positions in the company's funds or projects discussed. From the outside, the most

common criticism of venture capital in crypto board is down

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