Crypto winter looks different this time as incumbents gain market share amid stalled VC funding, Blockchain.com co-CEO says

The latest crypto winter has played out differently from past cycles as established companies gain market share amid a lack of venture capital funding for new crypto startups, said Blockchain.com Co-CEO Lane Kasselman, speaking in a recent interview with Bitcoin Magazine TV. “In every down market before this, the venture capital industry has fueled lots of new startups in the crypto sector. When we come out of the crypto winter, incumbents like ourselves and some of the other companies that have been around for over a decade are starting to fend off all sorts of new upstart competitors,” Kasselman said. “There are no venture capital fundings into new startups in the crypto sector. Now what you see is incumbents are actually getting larger and able to absorb more market share as new portions of the sector are coming online,” he explained. Kasselman described the period as an opportunity for incumbents such as Blockchain.com to grow, though he declined to call the bottom of the market. “I try not to prognosticate when we are in the cycle, but it is feeling like the market is stabilizing in the right direction,” he said. On the policy front, Kasselman said crypto has its strongest bip...