(Bloomberg) -- Venture capitalists have been under fresh scrutiny for their role hyping up the crypto industry during the criminal trial of FTX co-founder...
-- Venture capitalists have been under fresh scrutiny for their role hyping up the crypto industry during the criminal trial of FTX co-founder Sam Bankman-Fried, but new data shows that those investors are have pulled back sharply from the industry they once helped build and promote.Global venture funding for crypto startups plunged to its lowest level since 2020 during the third quarter, tumbling 63% from the same period last year, according to data from research firm PitchBook.
“If they’re not able to raise a round, even a down round, they’re either going to go out of business or get acquired at a valuation that’s much, much lower,” Le said. But a massive liquidation sale of the companies’ various stakes could send the value of crypto startups plummeting further if the equity is sold on the cheap, Le cautioned.The TFSA Play: Turn $6,500 Into a Retirement Goldmine
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Volkswagen, Umicore venture picks Poland for first car battery parts plantThe auto battery parts joint venture between Volkswagen's PowerCo and Belgian materials firm Umicore has chosen Poland as the site for its first factory...
Read more »
Volkswagen, Umicore venture picks Poland for first car battery parts plantExplore stories from Atlantic Canada.
Read more »
Sam Bankman-Fried judge cracks jokes, loses patience with defense at FTX trialExplore stories from Atlantic Canada.
Read more »
Sam Bankman-Fried judge cracks jokes, loses patience with defense at FTX trialExplore stories from Atlantic Canada.
Read more »
DoJ seeks to block discussions around FTX’s AI armThe U.S. Department of Justice aims to prevent SBF from using Anthropic's fundraising as part of his defense against wire fraud charges.
Read more »
Sam Bankman-Fried judge cracks jokes, loses patience with defense at FTX trialSam Bankman-Fried's fraud trial has featured dense testimony about computer code, cryptocurrency and corporate finance, but U.S. District Judge Lewis...
Read more »