Crypto.com’s Venture Unit Is Wary of Bloated Industry Valuations
- Bull market valuations are ‘very generous,’ CEO Marszalek says
- The $500 million venture fund has scaled back deals since 2022
Kris Marszalek
Photographer: Paul Yeung/BloombergThis article is for subscribers only.
Crypto.com’s venture capital arm is dubious about the sustainability of surging valuations in the sector, the digital-asset exchange’s Chief Executive Officer Kris Marszalek said.
His observations come amid a notable pickup in billion-dollar funding rounds for early-stage crypto startups following the latest rally in virtual currencies. The deals are a reminder of the investment frenzy that accompanied the pandemic-era bull run in tokens, with very mixed results.