“VC deals are rushed and run without proper due diligence. During the latest crypto bull market,” said Amy Wu, head of investment and trading at FTX Ventures.
“This is one of the key differences between the past bulls and the current bear market,” Wu added at the “Bear VC Investments” panel discussion in Breakpoint, Lisbon. better
“It has changed a bit since last year. During a bull market full of FOMO [ความกลัวที่จะตกรถ] Many of which we are talking about how to make a deal. Signing documents within 24 hours without checking the facts,” Wu said.
She added that there are many projects that are not long-term focused and have a wide range of skills and abilities. But now things have slowed down, more prudence, and the VC has validated the project and the founder of the project.
CoinDesk journalist Danny Nelson asked each panelist how long they thought the bear market would last, and Wu said she thought the market was closely linked to traditional market trends. And she expects it to take a couple of years before another bull market takes place.
Min Teo, co-founder of Ethereal Ventures, said she started her career during the latest financial crisis. And hopefully this crypto bear market will not last long. And she expects crypto could skyrocket again in early 2024.
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