The head of Digital Currency Group [DCG], Barry Silbert, said that the continued decline in the cryptocurrency market had a negative impact on a number of venture capital deals. According to him, half a dozen agreements were terminated.
After the lead pulled out. All is not well in crypto VC investor land
Note in the bank
– Barry Silbert (@barrysilbert) December 12, 2018
“It's time to remind the founders that a declaration of intent is not money in a bank account ,” he stressed.
Nevertheless, Silbert added that the trend did not touch the “mega-deals”.
Mega deal sheets are signed. It is seed-series B that are blowing up
– Barry Silbert (@barrysilbert) December 13, 2018
"It's about the period between the sid-round and Serie B".
Note that recently DCG and Coinbase supported the startup Flipside Crypto. The amount of the transaction was estimated at $ 4.5 million. One of the last public investment deals was the B Series financing round for the ErisX stock exchange supported by the same DCG, Nasdaq Ventures and Fidelity Investments.
Recall, another round of financing was closed by the BlockFi company – Fidelity Investments again applied its hand through the Devonshire Investors venture unit, Galaxy Digital Ventures, the dull Mike Novograc, and Morgan Creek Digital Anthony Pompiano, who in addition also bet $ 1 million on the fact that the crypto currency dynamics would surpass the S & P index 500 over a ten year period.
In 2015, DCG Silbert attracted investments from the payment giant MasterCard and since that time has been active in the investment field, financing or acquiring key industry players.
Among the former employees of Coinbase, there is an analogue of the PayPal mafia https://t.co/pKQXy2nMnW #Coinbase # bitcoin # cryptocurrency
– BlockchainJournal (@BlockchainJournal) December 15, 2018
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