VCs are not leaving crypto.

They’re just changing what they fund.

$7B+ is closed, announced, or reportedly being raised:

Dragonfly_xyz : $650M
Paraficapital : $125M
HaunVentures : $1B
a16zcrypto : $2.2B
bcap : $700M raising
PanteraCapital : $1B Raising
paradigm : up to $1.5B
Did I miss any one ?

The thesis is simple:
Stables. RWAs. Onchain finance. AI agents.

Retail watches candles, but what are the existing large caps that's going absorb some of these liquidity ??