The crypto venture market is painfully slow

Quick Take

  • Crypto VC Mike Dudas discusses the current slowdown in the crypto venture market, citing decreased user engagement across blockchain platforms and unrealistic valuation expectations.

Episode 82 of Season 5 of The Scoop was recorded with The Block's Frank Chaparro, and 6th Man Ventures Managing Partner Mike Dudas.

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Mike Dudas has over a decade of experience investing in the crypto industry and is the managing partner at the VC firm 6th Man Ventures.

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In this episode, Dudas examines the state of the crypto venture market, which he claims is currently stuck in "the slowest pace of dealmaking" he has ever seen.

According to Dudas, two of the main contributors to slowing crypto VC activity are the dwindling number of real users for blockchain based products, plus founder expectations that are still anchored to unrealistic bull market valuations from days past.

However, despite slowing user growth and lackluster price action, Dudas points to the uptick in developer activity as a beacon of hope that promises better experiences and products to the next wave of new crypto users.


© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Authors

Davis Quinton is the Director of Podcasts at The Block and runs our flagship podcast called The Scoop, hosted by Frank Chaparro. Since joining The Block as an 'intern' in early 2022, he has worked closely with leaders across departments to translate The Block's written content into engaging multimedia formats. He holds a degree in Social Research & Public Policy from New York University in Abu Dhabi and is based in Sydney, Australia.
Frank Chaparro is Host of The Scoop podcast and Director of Special Projects. He also writes a biweekly newsletter. Chaparro started his career at Business Insider, where he specialized in the intersection of digital assets and Wall Street, market structure, and financial technology. Soon after joining Business Insider out of Fordham University, Chaparro was interviewing top finance and tech executives, including billionaire Mark Cuban, “Flash Boys” star Brad Katsuyama, Cboe Global Markets CEO Ed Tilly, and New York Stock Exchange President Tom Farley. In 2018, he become a sought after reporter in the crypto world, interviewing luminaries such as Tyler Winklevoss, the cofounder of Gemini, Jeremy Allaire, the CEO of Circle, and Fundstrat head Tom Lee. For inquiries or tips, email [email protected].

Editor

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