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Despite a crypto rally, VC funds focused on crypto are struggling to raise money, as limited partners prioritize tangible gains after the 2022 wipeout (Ryan Weeks/Bloomberg)
https://www.bloomberg.com/news/articles/20

Crypto Venture Capital Funds Under Pressure to Produce Returns
Judging by a record Bitcoin rally that fueled a $1 trillion jump in the digital-asset market this year, crypto fever is back. But look beneath the surface to trends in venture capital and a far more sober picture emerges.