1confirmation founder: Silicon Valley VCs have been trying to control the crypto industry, but failed due to investing in "zero-sum game" projects

According to ChainCatcher, Nick Tomaino, founder of 1confirmation, posted on X stating that Silicon Valley venture capital firms have been trying to control the entire crypto industry, and to some extent, they have indeed succeeded. However, most venture capital firms were defeated between 2021 and 2023 because they invested a lot of funds into zero-sum game projects. Although these projects attracted retail investors' attention, they brought no real benefit to the world.

Now, Silicon Valley VCs are struggling, as evidenced by their overwhelming publicity and poorly made products. Bitcoin and Ethereum have never received investment from Silicon Valley VCs, yet their total value exceeds 2.5 trillions USD and they dominate the crypto market.