– Y Combinator is doubling down on crypto founders despite market volatility, with 30 crypto startups in its latest cohort, up from 25 in the previous batch.
– YC is betting more and more often on crypto founders as operations outside-yet-adjacent to it do the same.
– The early-stage world continues to be a sunny respite to the doom and gloom surrounding tech more broadly.
– The “crypto winter” has highlighted some major issues with the sector and seems to have inspired founders to build better solutions in the space.
– This year’s batch of YC crypto startups is focused on a few areas, including security and user-friendly products.
– The market downturn has given an even bigger impetus to founders to prioritize building the tech and tools that more traditional players need to feel comfortable operating in web3.
– DeFi is seen as the subsector of crypto that kicked off the broader downturn in the sector, but its promise of high returns for investors has kept it afloat.
– YC is continuing to invest in NFTs despite current market sentiment, backing seven new companies in the sub sector.