It hasn’t been a kind year for blockchain-based startup activity. In addition to an asset-price correction during a general venture capital slowdown, web3-focused tech upstarts have also had to deal with a series of intra-industry crises that have, at times, dominated technology headlines.
The Terra/Luna mess comes to mind. As does the meltdown of Three Arrows Capital. And that’s not to mention the rapid fall of FTX and its related entities.
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