Amy Wu, Head of Ventures and Commercials at FTX Ventures made a statement that she believes the Venture Capital (VC) deals at the last crypto-bullish market were rushed through and void of proper due diligence.
🔥Reach more than 5 000 000 real investors via Twitter influencer marketing! 🔥
Wu gave the statement while speaking on a panel titled “VC Investing in a Bear Market” at Breakpoint in Lisbon. Her current perspective is the result of recent events that are very different from those from the previous year.
She asserted that transactions were being completed in a rush without sufficient investigation and that all that was necessary was the basic signal from the major investor, which is not exactly beneficial. According to her, this is one of the most significant variations between the previous bull market and the current bear market. She however said things are looking quite optimistic at the moment.
Wu continued by saying that many initiatives had a diversity of skill sets and talent, and they weren’t as long-term oriented. The VCs are now doing a lot of research to ensure proper findings to ensure that deals are done accurately. They are also ensuring founders’ credentials are reviewed now that things have slowed down.
Wu predicted that it would be a few years before another bull market occurs; she believes the market is largely influenced by traditional markets’ macroeconomic outlook when she was asked to estimate how long the bear market will last.
Reports on the Current Bear Market
There have been a variety of reports from experts and panelists about their take on the current bear market being experienced in the blockchain industry.
The CEO of blockchain business Tezos, Kathleen Breitman gave a statement that the current bear market is still very far from experiencing a bullish market despite the recent rush. Breitman claimed that excitement and cheap money flowing into the system had temporarily inflated the value of numerous cryptocurrency initiatives during the previous few years.
Coinbase CEO Brian Armstrong on the other hand gave a forecast that the current bear market is estimated to end in 12-18 months. He admitted that because a prolonged bear market is usually accompanied by a more serious macroeconomic issue, his company is prepared for it.
🔥Reach more than 5 000 000 real investors via Twitter influencer marketing! 🔥
