Cryptocurrencies
Crypto Winter Isn't Fatal For All ‘Picks and Shovels’ Makers
- Executives say key infrastrucute is continuing to be built
- Dropping equity valuations also attractive buying opportunity
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The crypto winter that’s seen major digital assets crash by as much as 90 percent hasn’t been bad for all of the firms building infrastructure or investors looking to pick up equity in projects that dropped appreciably.
"This is the most productive phase we’ve ever been in," said Konstantin Richter, chief executive officer of Blockdaemon, a firm that creates and hosts the computer nodes that make up blockchain networks. That’s because various efforts in the space need to deliver on their ambitions and are turning to firms like Blockdaemon for help. "Projects now need to show their colors. The time is up of raising a lot of money and talking a lot of talk," Richter said at a hosted at the Los Angeles bureau of Bloomberg News.