The New Rules of Crypto Fundraising | Roundup

Summary

Mike Ippolito, Myles O'Neil, and Xavier discuss the current early-stage crypto fundraising environment, focusing on how standards have risen, optimal raise sizing, storytelling, and running a process. They debate market cycles, the shift toward later-stage capital, and the impact of AI on defensibility and fundraising. The conversation also touches on hot sectors like stablecoins, RWAs, and AI, the strength of incumbent infrastructure such as Solana and Ethereum, and why painful markets can create maximum opportunity.

• Early-stage crypto fundraising standards have risen; pre-seed now requires more proof.
• Venture capital is moving toward later stages, leaving many pre-seed startups struggling to reach seed.
• Founders are advised to size raises around milestones and avoid overcapitalization.
• Storytelling, social proof, and targeted outreach are key to a successful fundraise.
• Stablecoins, RWAs, and AI are identified as hot fundraising areas.
• Solana and Ethereum are seen as strong incumbents, while new infra projects face high failure risk.
• Painful market moments and negative sentiment can create maximum opportunity for crypto builders and investors.