Silicon Valley Venture Capital Struggles in Crypto Industry

According to PANews, Nick Tomaino, founder of 1confirmation, expressed on the X platform that Silicon Valley venture capital firms have attempted to dominate the entire cryptocurrency industry, achieving some success in this endeavor. However, most venture capital firms faced setbacks between 2021 and 2023 due to significant investments in zero-sum game projects. These projects, while attracting retail investors, offered no real benefit to the world. Currently, Silicon Valley venture capitalists are struggling, evident from their widespread promotions and subpar products. Notably, Bitcoin and Ethereum have never received investments from Silicon Valley venture capital, yet they hold a combined value exceeding $2.5 trillion and maintain a dominant position in the crypto market.