Venture capitalist Katie Haun says crypto cycle will be different this time
Venture capitalist Katie Haun says the current crypto bear market is the first of its kind since the inception of digital assets more than a decade ago.
In a new interview, the CEO and founder of web3-focused Haun Ventures says that, unlike previous cycles, the current crypto downturn coincides with a global economic crisis. bridge.
“What did not happen was a crypto winter amid really dire global macro conditions. We have inflation, which is at a record for our generation and in our lifetimes, and then we also have a war that breaks out in Ukraine and we have some other factors here. . So that's very different."
The recession has seen the collapse of industry giants such as Terra (LUNA), Celsius Network, and Three Arrows Capital, but Haun says that cryptocurrencies are less likely to recover anytime soon.
“I would say the only thing that has changed in our strategy as a result of the market correction is actually more of an early focus, but we still have late-stage funds and when we look at the valuation, I think we're still looking right.
Spoiler alert: I think we'll still see some fixes, so we can roll out our post-stage background a bit slower. You may not have a consistent 50/50 beat and that's fine in the long run. Our strategy has not changed in the long term. We are committed to this space.”
Haun also shared his thoughts on President Joe Biden's executive order directing government agencies to look into crypto-related issues and issues and make recommendations.
“We are very pleased to see that executive order. It's not something that you should normally be excited about, but for us, it's a real acknowledgment that the US government says the field is going nowhere, it's growing. It's growing so much that we're going to order all federal government agencies to put out a plan here. "
Oct 08, 2022