TechFlow news, on November 8, Nick Tomaino, founder of 1confirmation, posted on X stating that Silicon Valley venture capital firms have long attempted to dominate the entire crypto industry and have succeeded to some extent. However, most VC firms faltered between 2021 and 2023 because they poured substantial funds into zero-sum game projects that attracted retail attention but provided no real benefit to the world. Today, Silicon Valley VCs are struggling desperately, evident from their overwhelming marketing campaigns and poorly constructed products. Bitcoin and Ethereum never received investments from Silicon Valley VCs, yet together they hold a market value exceeding $2.5 trillion and dominate the cryptocurrency market.
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