The crypto market has entered a deep freeze, with Kyle Samani and more venture capitalists growing bearish on the industry

BlockBeats News, February 13th, with the crypto bear market trend set, market sentiment continues to decline, pessimism has shifted from the secondary market to the more mature investment mindset of the primary market, and even the VC investment circle.

Last week, Multicoin co-founder Kyle Samani announced his decision to step down from Multicoin Capital. Today, DeFiance CEO Arthur expressed pessimism, stating that the crypto venture capital model is dead, and in the future, they will only invest in purely cash flow businesses.

Moonrock Capital founder Simon Dedic, on the other hand, stated that this week he has had discussions with at least 5 major venture capitalists and industry insiders, who either doubt whether the market will fully recover, or have already exited and shifted their focus to AI and Web2 stocks.