Cryptocurrency 10 minutes in the past (Dec 15, 2022 08:20PM ET)
Does the crypto business’s funding house want an overhaul? That is one in every of many questions swirling within the wake of FTX’s downfall: When the outstanding trade collapsed, it left behind a protracted line of helpless collectors and lenders — together with many promising initiatives depending on funds promised by Sam Bankman-Fried and firm.
However there’s a greater drawback on the coronary heart of the present funding image, whereby deep-pocketed enterprise capital companies throw their weight round within the low-liquidity Web3 market, closely backing early-stage initiatives earlier than cashing out at a revenue as soon as retail has FOMO’d into the market.
Justin Giudici is a co-founder of Telos, a third-generation blockchain platform for constructing scalable distributed functions with feeless transactions. He’s additionally the CEO of Infinitybloc, a decentralized gig economic system platform. He holds a bachelor’s diploma in commerce from Curtin College.
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