Although AI has picked up pace, the VC market is nowhere close to where it was in 2021-22. With higher interest rates and a sustained supply chain shortage, the global market isn’t “ideal.”
The failure of Celsius, Voyager, 3AC, Luna/UST, and, of course, FTX made 2022 a crypto investing nightmare. AI projects have been commanding huge VC rounds with valuations that are difficult to justify. Generative AI startups VCs chase the hot trends — it’s not a disputed fact. And the hot AI trend, however unsustainable, is working to the detriment of crypto.
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