Judging by a record <-bsp-bb-link state="{"bbHref":"bbg://securities/XBTUSD%20BGN%20Curncy/GP","_id":"0000018e-7b4a-d509-adee-7bdb31510000" ,"_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Bitcoin rally-bsp-bb-link> that fueled a $1 trillion jump in the <-bsp-bb-link state="{"bbHref" :"bbg://securities/MVDA%20Index/GP","_id":"0000018e-7b4a-d509-adee-7bdb31510001","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">digital -asset market-bsp-bb-link> This year, cryptocurrency fever is back. But look beneath the surface at trends in venture capital and a much more sober picture emerges.
While venture funds are rushing to try to raise cash, the limited partners they turn to for money are wary of the hype and aware of the lessons of 2022. Back then, valuations collapsed alongside the implosion of crypto companies like hedge funds <-bsp-bb -link state="{"bbHref":"bbg://securities/0965254D%20SP%20Equity","_id":"0000018e-7b4a-d509-adee-7bdb31520000","_type":"0000016b-944a-dc2b -ab6b-d57ba1cc0000"}">Three arrows uppercase-bsp-bb-link> and <-bsp-person state="{"_id":"0000018e-7b4a-d509-adee-7bdb31520001","_type":"00000160 -6f41-dae1-adf0-6ff519590003"}">Sam Bankman-Fried-bsp-person> fraudulent FTX exchange.
The shock destroyed a large part of the capital,...
