Damn… the crypto world is freezing to the bone Crypto VC funding is heading toward the worst month since November 2020. Remember the last bull run? Projects didn’t even have a product, Tokenomics wasn’t even written yet, but as long as the PPT looked good, valuations skyrocketed. Now? Retail investors aren’t buying. VCs don’t dare to invest. Projects can’t raise funds. The market is left with only projects that have real cash flow, actual users, and the ability to survive. But the most interesting part is— What was November 2020? It was right before the last major bull run truly took off. History doesn’t always repeat itself, but when the market is at its coldest and no one wants to bet, that’s often when the next batch of winners starts getting priced in. So here’s the question: Is this the "winter" for Crypto VC, or the beginning of the next cycle?