CRYPTO IS GROWING UP, VCS ARE GETTING LEFT BEHIND

Summary from the TLDR Crypto newsletter

Crypto is maturing beyond its hype-driven, speculative past into a more disciplined, fundamentals-focused industry. The industry increasingly demands longer time horizons, product-market fit before token launches, and genuine utility. Most traditional crypto VC firms, built for quick liquidity via SAFTs and early TGEs, are unprepared for this shift, while firms with patient capital, governance expertise, and IPO-readiness are positioned to lead the next wave of sustainable growth.