TLDR Tech / Crypto
Active Crypto VC Firms Fall to 150, Lowest Since 2020
Active crypto VC participation dropped to 150 firms in July, the lowest monthly count since November 2020 and an 87% decline from the May 2022 peak of 1,177 investors. The contraction reflects the exit of smaller funds, family offices, and angel syndicates that proliferated during the 2021-2022 bull cycle. Dragonfly Capital managing partner Haseeb Qureshi described the trend as a "mass extinction" of blockchain venture capital, warning that dedicated crypto VCs could lose relevance by 2030 as dominant platforms absorb users and liquidity. Larger established firms continue deploying capital into infrastructure and real-world assets, with Dragonfly closing a $650 million fund in February, marking a consolidation of the sector around institutional players.
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