Prices are back. Funding isnโt. Why?
Bitcoin just had its best Q3 since 2017, yet crypto startup funding went the other way. Capital went into tokens and ETFs. What did get funded: payments, stablecoins and teams already generating revenue.
Our co-founder @Marco_Beam on what that means for builders:
"This isnโt a cold market. Itโs a picky one. The bar moved from โgreat narrativeโ to โshow me it works.โ The next wave gets built by teams who ship without waiting for a round."