Some crypto startups were already scrambling to raise money. The coronavirus made their struggles worse

Quick Take

  • Crypto firms are having trouble accessing venture capital like many other companies – but they may have other things to worry about as well
  • Many early-stage crypto companies received their last checks a year or two ago, and these firms were looking for fundraising or M&A opportunities even before the coronavirus pandemic hit
  • The DeFi space’s lack of viable business models may render them more vulnerable if and when VC firms cut off additional funding.
As venture deals slow down due to COVID-19, some of the crypto firms may struggle harder than the other.

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