[1confirmation Founder Says Silicon Valley VCs Failed to Dominate the Crypto Industry]
1confirmation founder Nick Tomaino posted on the X platform, stating that Silicon Valley venture capital firms once attempted to dominate the crypto industry and made some progress, but ultimately failed between 2021 and 2023 due to investments in zero-sum game projects. These projects attracted retail investors' attention but were of no benefit to the world. He pointed out that Silicon Valley VCs are currently struggling, as evidenced by excessive promotion and poorly made products. Bitcoin and Ethereum did not receive investments from Silicon Valley VCs, yet their total market capitalization exceeds $2.5 trillion, continuing to dominate the crypto market.