According to Bulish Capital Management Director Sylvia, Crypto venture capitalists are withdrawing their risk hunger to avoid the hot taste of the month and apply more important lenses for investment.
“VCs are very careful now. It’s not just a story drama. Before you can throw a check and say, oh, another L1, but it is going to be an ethrium killer,” to be an atherium killer in Singapore, “told cointelegraph during a sealed-down interview. told.
“Later, you saw all these new chains,” he said, stating that the market was fragmented and a lot of funds were being deployed for the new layer 1S and new infrastructure, which is no longer feasible.
“Who is using it?” Important questions say
“We are in a phase where you do not have the luxury just to bet on these new narratives,” he said, that investment now needs more important lenses.
“You really have to start thinking, all this infrastructure is being built in the industry, but who is using it? Is there enough transactions? Is there sufficient quantity through these chains so that all the money is being raised?”
To say that in 2025, many projects are raising funds on inflated and often improper evaluation, much dependent on future cash flow estimates.
“Potential revenue and the pipeline they have received is not solid,” saying that it has been a “slow year”.
Q2 2025 declines in crypto startup funding
Eva Oberholzer, the Chief Investment Officer of VC firm Ajna Capital recently echoed a similar feeling.
Oberholzer told the coinalgraph on September 1 that VC firms have become more selective with crypto projects in which they invest, representing a change from the previous cycle due to market maturity.
“This is more about the approximate revenue model, institutional dependence and irreversible adoption,” said Oberhanolzer.
Connected: Crypto VC Firm Arctype Closes $ 100 M Early Stage Fund
The latest VC report of Galaxy Research has revealed that crypto and blockchain startups raised a total of $ 1.97 billion in 378 deals in the second quarter of 2025, which represents a decline of 59% in funding and 15% fall in the deal compared to the previous quarter.
Overall, the total venture capital investment in Crypto was $ 10.03 billion in the three months ended June.
An asset manager found by American entrepreneur and politician Vivek Ramaswamy, leading the strive funds, reserved $ 750 million in May to establish “alpha-generating” strategies through bitcoin-related purchases.
magazine: Hong Kong Chinese Crypto firms feel that it is
