2023 Looking Bleak? Nansen CEO Predicts Cryptocurrency Startups to Face Bloodbath Next Year
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As the year-end approaches, Alex Svanevik, CEO of the data company Nansen, does not seem to have positive expectations for the coming year.
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As the year-end approaches, Nansen CEO Alex Svanevik does not seem to have positive expectations for the coming year.
- He is not optimistic about the future of crypto startups in 2023, and has made six predictions:
- Most startups that raised seed funding in 2021 and 2022 will run out of funds
- Some startups will be acquired
- A few startups will secure new funding rounds but with over 80% valuation decline
- Decrease in demand for technical talent
- Venture capital will shift focus to other areas such as AI
It's not just crypto startups, but Y Combinator warned startup founders back in May this year about the challenging economic environment and advised them to prepare for survival.
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