magic-wormhole - Tier-1 VCs Face $22 Billion Losses as Crypto Valuations Plummet

Top-tier venture capital firms have reported over $22 billion in losses as valuations of major crypto projects have plummeted by 88% to 99%. Projects backed by prominent VCs such as Paradigm, Sequoia, Polychain, and Multicoin, which once raised funds at billion-dollar valuations, are now trading significantly below their private rou