• April 23, 2024

Satoshihodler.com

All the latest cryptocurrency news

Kevin O’Leary Says Venture Capital Firms Are Leaving the Crypto Sector

Reading time: < 1 minute

Popular TV presenter Kevin O’Leary has previously unveiled that he keeps up to 5% of his capital in digital currencies.

According to him, it is impossible to increase investments in such instruments to a critical level, so as not to lose their investments in the event of aggravation of volatility.

He has stated this week that venture capital firms are gradually moving out of the crypto sphere.

A factor accelerating the flight of capital from digital currencies was the crash of FTX last November. Now the majority of venture investors are focused on financing artificial intelligence.

He has added:

“Venture capital funding for crypto projects has all but stopped, and regulation and penalties have made things worse. The venture community has moved on to the next direction – artificial intelligence.”