Crypto VC is struggling only from a North American perspective — Animoca Brands CEO
Speaking with Cointelegraph at the Collision Conference, in Toronto, crypto veteran Yat Siu outlined how crypto firms can cope with unique environments, stressing that it is not "as bad as it sounds". The crypto space has been in an uneven state around the world, with Web3 startups flourishing in the Middle East and Asia, while North American crypto entrepreneurs face challenges under tough macroeconomic and regulatory conditions, according to Animoca Brands CEO Yat Siu. Speaking with Cointelegraph at the Collision Conference, in Toronto, Siu highlighted the main differences between the environment for crypto businesses worldwide, stressing that it is not "as bad as it sounds". According to him, Web3 startups can still raise funding from venture firms, but current conditions like higher interest rates across the globe along with a downturn in crypto assets prices have raised the bar for newcomers. "Valuations have come down, obviously, but the number of bui...