Every Zipp story tagged #VC, newest first.
A snapshot of eight marquee VC-backed protocols returns a stark ratio: $6.3B in cumulative funding against roughly $471K in annualized revenue, a 13,000-year payback on current run rate.
Most tokens trade on narrative, not network economics, and the VC says that mismatch is structural, not seasonal, which is why projects keep bleeding once the story fades.
Exchange rounds are pulling the largest median crypto VC checks this year, ahead of brokerage, stablecoin, and CeFi deals, a sign capital is concentrating where liquidity and trading revenue already…
The category leads all crypto sub-sectors in average round size this year, running well ahead of exchanges and blockchain infrastructure as capital consolidates around narrative.
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