Along with increasing regulatory scrutiny and skeptical investors, capital deployment has pulled back significantly from the highs of 2021, which has left many young startups struggling to raise funds.
According to Erik Svenson, co-founder and CFO of blockchain infrastructure firm, Blockstream, Bitcoin-focused companies are falling behind as fewer checks are being written.
“I think investment into crypto kind of peaked early last year,” Svenson said on TechCrunch’s Chain Reaction podcast this week.
Notably, it doesn’t have a token of its own, unlike many other crypto companies that launched their own during the initial coin offering (ICO) boom in 2017.
However, it’s not been all smooth sailing for the company, especially as the crypto waters have grown choppier amid the broader funding crunch.
Svenson pointed out that while Blockstream has some “really bullish Bitcoin investors” on its cap table, it also has LPs, and the turbulence in the crypto market has made things more challenging.
The original article contains 303 words, the summary contains 154 words. Saved 49%. I’m a bot and I’m open source!
This is the best summary I could come up with:
Along with increasing regulatory scrutiny and skeptical investors, capital deployment has pulled back significantly from the highs of 2021, which has left many young startups struggling to raise funds.
According to Erik Svenson, co-founder and CFO of blockchain infrastructure firm, Blockstream, Bitcoin-focused companies are falling behind as fewer checks are being written.
“I think investment into crypto kind of peaked early last year,” Svenson said on TechCrunch’s Chain Reaction podcast this week.
Notably, it doesn’t have a token of its own, unlike many other crypto companies that launched their own during the initial coin offering (ICO) boom in 2017.
However, it’s not been all smooth sailing for the company, especially as the crypto waters have grown choppier amid the broader funding crunch.
Svenson pointed out that while Blockstream has some “really bullish Bitcoin investors” on its cap table, it also has LPs, and the turbulence in the crypto market has made things more challenging.
The original article contains 303 words, the summary contains 154 words. Saved 49%. I’m a bot and I’m open source!