TechFlow news, according to Forkast, Evan Cheng, co-founder of Mysten Labs—the development team behind Sui—said in an interview that with blockchain and cryptocurrency startups struggling to raise funds following the FTX collapse, artificial intelligence is now capturing a larger share of venture capital funding.
Despite these challenges, Cheng believes the situation presents an opportunity for developers to build open and transparent infrastructure. Venture capitalists are still willing to provide early-stage funding to crypto companies, though valuations have been affected. However, once startups reach later stages such as Series A and B, it becomes much harder to secure growth capital, with only top-tier companies receiving support.
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