Crypto VC funding surging again sounds like a rally, until you trace where the money actually lands

Dragonfly Capital closed its fourth fund at $650 million this week, the same size as its 2022 vehicle, raised into a venture market Fortune calls a “mass extinction event.” The headline reads like a vote of confidence: institutional capital returning, crypto winter thawing, alt season loading. But peel back one layer and the picture warps. […] The post Crypto VC funding surging again sounds like a rally, until you trace where the money actually lands appeared first on CryptoSlate.