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

ChainCatcher news, Nick Tomaino, founder of 1confirmation, posted on X platform stating that Silicon Valley venture capital firms have been trying to dominate the entire crypto industry, and to some extent, they have indeed succeeded. However, most VCs have fallen behind between 2021 and 2023 because they invested a lot of funds into zero-sum game projects that, while attracting retail investors’ attention, are of no 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 they have a total value of over $2.5 trillion and dominate the crypto market.