Crypto VC becomes so chaotic

xuanling11
Coinmonks
Published in
4 min readJul 18, 2022

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Photo by Towfiqu barbhuiya on Unsplash

Nothing is as it seems on the surface in recent market. For example, three Arrows Captial (3AC) worth $2.8B was liquidated, and co-founders ran away while filing a lawsuit to against their own company. But this will only be the tip of the iceberg for the crypto industry at large. On one side are those who see opportunity in cryptocurrency; on the other are those intent on destroying it. I will share some changes that will affect the blockchain and cryptocurrency in general as a result of December’s massive purchase in virtual assets by a third-party organization known as “Crypto VC”.

December’s massive purchase in virtual assets by a third party organization known as “Crypto VC”

Crypto VC isn’t a new concept. Back in December 2017, there were VCs were blow up ever since.

For the first time in history, a public person has bought and sold virtual assets in person. This is amounting to the largest private sale of virtual assets to date. This transaction, which took place in New York City on December 3rd, marks a new milestone in the history of digital assets. The total investment amount involved in this deal is believed to be in the range of $200 million — $300 million. The motivation for this investment can be found in the style of the investments made: most notably, efforts by the investors to clean up their act.

Davan Megawal and the crypto VC scam

Back in May, One97 Capital — the investment vehicle of digital assets manager and investor Davan Megawal — bought complete control of IcoAward, a cryptocurrency fund focused on issuing digital currency. But this is just one incident in a long list of misdirection, misdirection, and misdirection by the fund management. While the bought-and-then-sold-on activities of Megawal and the fund managers are not covered in the facts about the purchase of IcoAward, the activities of the distributed ledger technology (DLT) startup Alexa, which was the core of the deal, are.

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