VC ‘spray-and-pray era over’ as crypto startups raise $883m in February

Venture capitalists funnelled $883 million into crypto startups in February despite the market downturn, according to DefiLlama data. The figure represents a 13% decrease fromthis time last year, when startups secured over $1 billion amid a crypto bull run. These days, venture firms are still doling out cheques but erring on the side of caution. “Last year, you could raise on a narrative and a deck,” Andrei Grachev, managing partner at crypto VC firm DWF Labs, told DL News. “This year, investors want ...