PANews reported on November 8th that Nick Tomaino, founder of 1confirmation, stated on the X platform that Silicon Valley venture capital firms have been trying to control the entire crypto industry, and to some extent, they have succeeded. However, most of these firms failed between 2021 and 2023 because they invested heavily in zero-sum games—projects that, while attracting retail investors, offered no benefit to the world. Now, Silicon Valley VCs are struggling, as evidenced by their overwhelming advertising and poorly made products. Bitcoin and Ethereum have never received investment from Silicon Valley VCs, yet their combined value exceeds $2.5 trillion and they dominate the crypto market.PANews reported on November 8th that Nick Tomaino, founder of 1confirmation, stated on the X platform that Silicon Valley venture capital firms have been trying to control the entire crypto industry, and to some extent, they have succeeded. However, most of these firms failed between 2021 and 2023 because they invested heavily in zero-sum games—projects that, while attracting retail investors, offered no benefit to the world. Now, Silicon Valley VCs are struggling, as evidenced by their overwhelming advertising and poorly made products. Bitcoin and Ethereum have never received investment from Silicon Valley VCs, yet their combined value exceeds $2.5 trillion and they dominate the crypto market.

                                                                               Market participants are eagerly anticipating at least a 25 basis point (BPS) interest rate cut from the Federal Reserve on Wednesday.                     The Federal Reserve, the central bank of the United States, is expected to begin slashing interest rates on Wednesday, with analysts expecting a 25 basis point (BPS) cut and a boost to risk asset prices in the long term.Crypto prices are strongly correlated with liquidity cycles, Coin Bureau founder and market analyst Nic Puckrin said. However, while lower interest rates tend to raise asset prices long-term, Puckrin warned of a short-term price correction.  “The main risk is that the move is already priced in, Puckrin said, adding, “hope is high and there’s a big chance of a ‘sell the news’ pullback. When that happens, speculative corners, memecoins in particular, are most vulnerable.”Read more