🥲 Crypto VC Deals Downbad

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Gm, this is the doodhwala, the crypto newsletter that’s definitely MORE FUN than being at ETH CC in Paris. 😎

(This is 100% not cope 🙂)

Here’s what we got for you today—

• 📉 VCs Downbad: VC money and deals are slowing down for the crypto bros.

• 🌜 Moon is Moon-ing!: Reddit’s favourite token is literally breaking out to the moon!

• 📈 Latte and Lists: Everybody make some noise! → Music!

• 🛠️ Resourcewala: Sharding? Wtf is that?

• 🍼 Doodhshots: Gary Gensler doesn’t exactly like XRP.

🥲 Where Them Crypto VCs At?

Venture capital.

The folk that can make or break great businesses. 🤑

There's no denying that VC activity has been sliding down globally. 📉

But the question we ask is the same thing I question myself when I consider my dating standards—

How downbad is it? 🥲

We have one thing to ask all the VCs now!→Where the frick are y'all? 🤷

1️⃣ WTF is happening to VC deals in crypto?

VC investment in crypto can be compared to the level of Doodh and Paani mixed by your Doodhwala. 🥛🚰

You'll never know how much water is in there, but it ends up white in the end. 🤔🤔🤔

The total crypto VC deals went from a peak of 1200+ deals in 2021-22…

To a mere 200+ deals in the Q2 of 2023!

That's nasty business.🤐

But really — Are they missing out on something rn?!

We don't think so - coz the total deals pre-2020 were less than 100 deals a quarter on average. 📊

See!? See how they mix Doodh and Paani!

Sly AF we tell ya! 😤

2️⃣ Money or innovation?

Not only is VC money downbad — It’s categorically downbad.

If you’re a startup who wants to raise VC money, you fall prey to the VC dilemma—

Do I raise money for my product to compete? Or to innovate?🤷‍♂️

And we can see this based on the categories of investment done by them.👇

👉 The highest investment category is crypto exchanges - with close to over 20% of total investments.

👉 The next biggest categories are Web3 / NFT projects and Wallets - together contributing another 20% on average.

👉 The least invested category stands out to be Media and communications.

Straight up personal attack on that last one tho. 🥲

3️⃣ The new threat for Crypto VCs = A.I. VCs! 😱

If you thought the down-baddery wasn’t bad enough for crypto projects—

There’s a new threat in town to deal with it.🥷

And that’s A.I. aka - Artificial Intelligence.🤖

A.I. is turning VC heads ever since projects like ChatGPT and Midjourney have started to make some noise in the market.

A.I. is literally dropping threats to the crypto bros like crazy right now!

A.I. is now the new NFT hype thing for VCs - Who are looking to exit with some lucrative motives in mind—

And not in a nice way.🙅‍♂️

That’s the reason they’re investing billions in—

• Existing projects and businesses that want to get into A.I.

• New projects that want to get into A.I.

• Basically, anyone who says the word A.I. in their pitch deck. 🥴

How sustainable is the method? We don’t know 💩.

But let’s hope the silicon valley bros don’t make the crypto bros bankrupt for now.

Doodhwala’s take: VC might be leaving crypto. But it’s not time for institutional money to enter.

That’s the reason we see Bitcoin ETFs being filed.

New conspiracy? 🤔

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🌛 $MOON To The Moon!

What a party at Reddit! 🥳

We are not talking about the memes, puns, or scams on Reddit. No, Sir!

This is about Reddit's very own MOONs and BRICKs. 💎

You don’t know what they are? Alright, let me break it down for you. 😌

Reddit Community Tokens - MOON and BRICK, are crypto tokens given to Reddit users as rewards for their engaging posts and comments.

It's like being paid for being witty on the internet, how cool is that? 😎

Now, this week they are not just mooning, they are GALAXYING! 🌌

Here are the deets 👇

• MOON's value shot up 170% in a week, to nearly 25 cents from 9 cents. 🌙

• BRICK jumped up by 300% in two days. 🧱

These green candles also show our love for doodh. 🥛👇

But why this sudden surge?

Well, Reddit has tweaked its Terms of Service.

Now, it explicitly allows trading Reddit's Community Points, i.e.

• MOONs

• BRICKs

While trading Community Points was always an option, it was a bit of a task, especially through the Reddit app.

Now, the traders just need to export the private key from their Reddit wallet, import it into a crypto wallet, and get trading! 🥳

Of course, there are always the folks over at r/CryptoCurrency who had an absolute blast hearing the news.

Even big-shot exchanges like Kraken are giving a big thumbs up and dropping hints of possibly adding MOONs to their listings. Crazy, right? 😳

Looks like this policy change from Reddit made these Community Tokens skyrocket.

With more attention being driven towards them, who knows how high they’ll soar? 🌠

Alright, enough said.

Now, let's sit back, watch these tokens shoot past the stars, and enjoy the party on Reddit.

Cheers to all the crypto bros making it big with their MOONs and BRICKs. 🎉

Doodwala’s Take:

Who needs a rocket to reach the moon when you have Reddit? 😉

📈 Latte and Lists: Make some noise → Music!

Guess what y’all? 💁

There's something being TUNED in the market lately. 👀

If you thought the Doodhwala was the trendiest thing in the crypto world right now—

You’re right! 😎

Just…don’t ask us for any metrics to prove that argument. 😤

But what’s a metric that we can prove fo sho? 🤔

If you’re a fan of good music - You’ll like this story!

It’s only been a few days since the funding announcement of $20 million for Sound—

And it’s already on the top 3 list for Dapps with the highest active users! 😱

Music NFTs have taken the crypto industry by storm—

and are gaining massive numbers in the market!📈

Upon a glance at the MAUs (Monthly Active Users) for Dapps👇

👉 PancakeSwap has the highest number of active users with over 1.37 million!

👉 Second comes Uniswap with over 870k AUMs.

👉 Close third comes Sound, with a mind-blowing 718k+ active monthly users!

Pretty cool innit?

What do you think? Will the music startup- backed by folk like a16z and Snoop Dogg last the time?

Or is it just a fad? 👎

Hit reply and let us know your thoughts!👇

🛠 Resourcewala: Wtf is Ethereum Sharding?

Jargons and acronyms are floating all over crypto like those drinks at a wedding.

But, we've got you covered.

Today, we're talking about Ethereum Sharding.

Sharding is basically Ethereum's version of a genius plan to solve scalability issues.

And we all know how Ethereum can be like that corporate employee on a Monday afternoon. 💤

But, how does sharding boost Ethereum's speed? ⚡

Today’s resource:

• What's up with Ethereum Sharding?

• Why the heck is it needed?

• How does Ethereum Sharding work its magic?

READ TIME: Quicker than your morning coffee brewing! ☕️⚡️

🍼 Doodhshots: Ripple Rumble

• 🎭 Meme Madness: UK watchdog states that crypto memes could count as financial promotions. Ready to laugh your way to the court?

• 👑 Celsius Settlement: Celsius Estate finds middle ground with Series B Holders over the proceeds from GK8 sale. All's well that ends well?

• 💼 Wood's Wallet: Ark Invest's Cathie Wood lightens up her Coinbase bag by selling $26M worth of shares. Cash out or strategy shift?

• 🤝 Coinbase Chats: Coinbase CEO pencils in a meet with Democrats over digital asset regulations. A step towards crypto peace, perhaps?

• ⚖️ Ripple Ruffle: SEC Chair Gensler expresses his 'disappointment' over Ripple court ruling on retail XRP sales. Not the ruling he'd XRPected!

😎 Still Here?

Damn...you’re still here?

You’re a real one! 🔥

Here’s a glass of doodh to chill. 🥛

While you’re drinking that…

Here’s another knowledge bomb on how Lana Rhoades (you know who she is) scammed her fans out of MILLIONS of dollars pretty blatantly. 😳

And yes, it’s through a crypto scam. (*looks away* 🥲)

Click on the video below to ▶️ it. 👇

🤣 Milky Meme Of The Day

If you want more doodh then, be sure to follow our Twitter, LinkedIn, and Instagram.

That’s all for today folks! See ya tomorrow!

Yo! Our legal and financial advisors (aka our good ol’ conscience) have asked us to add this boring disclaimer. None of what you read here is financial advice. We aren’t here to get you to buy or sell crypto. We’re only here to tell you what’s up in crypto today and make you laugh. So, if you screwed up on a trade, that’s on you G. Stay safe in the markets.

Today’s edition was brought to you by Ritik Gupta and Sumanth

Edited by: Arvind Krishna and Aakash Athawasya