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Why crypto’s VC kingmakers are backing rival startups
Quick Take
- Layer 1 blockchains, NFT marketplaces and crypto bridges are just a few examples of sub-sectors in which the leading startups share the same backers.
- Investing in rival startups is unusual in venture capital, but crypto heavyweights justify it on the basis that the sector is still so early in its development.
Big crypto venture capital firms commonly invest in rival startups. Are they hedging their bets or is there a larger strategy?
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