Startups • February 22, 2019, 5:00PM EST
UPDATED: February 24, 2019, 5:13PM EST

Pantera CEO: This crypto winter is different than any we've seen before

Read the non-AMP story on Theblock.co
The Block

In a recent "Unconfirmed" podcast episode with former Forbes' journalist Laura Shin, Dan Morehead, CEO at Pantera Capital, said that the ongoing crypto bear market has proven less worrisome than previous price plunges. 

"I would admit that in the previous crypto winter [of 2014-2015], I had more of a worry in the pit of my stomach. Was blockchain really going to work? Would it succumb to some of the real obvious regulatory risks that existed at that time? Today, the underlying fundamentals are much, much stronger."

The investment firm recently announced that it had already raised $125 million for its third crypto fund, hoping to close at $175 million.

Morehead added: 

"In 2018, they did $19 billion of ICOs and only $4 billion of venture. I think 2019 is going to be the opposite: venture is going to be much bigger than ICOs. Now the pendulum swung back to venture."

[related id="1"] To find out more out Pantera's investment portfolio so far, click here for The Block's in-depth overview.