Can VC control encryption? The founder of 1confirmation gives an answer.

2025-11-24 08:27:36

Abstract generation in progress

Silicon Valley VCs have indeed wanted to make their mark in the encryption space in recent years.

According to Nick Tomaino, the founder of 1confirmation, traditional venture capital does have influence in certain areas, but the track record is not very impressive — the investments made from 2021 to 2023 have mostly fallen into pitfalls. The reason is simple: most of the projects they invested in are zero-sum games, which can attract retail investors' attention but contribute nothing to the ecosystem.

The Silicon Valley VC circle is now filled with excessive marketing and subpar products, resembling a situation of being at the end of its tether.

This is a counterexample: BTC and ETH have never taken money from Silicon Valley VCs, yet they have a market value of 2.5 trillion dollars, completely suppressing the entire encryption market.

What does this mean? The strongest projects do not need VC endorsement at all.

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