Cryptocurrency Turns Up Heat on Venture Capital

The cryptocurrency sector poses a threat to some venture capital firms in Silicon Valley, especially those who take a hands-off approach to their investments, said panelists at an event hosted by The Information in New York on Tuesday evening.


Tech entrepreneurs who once had limited options for capital now might be tempted to fund-raise through an initial coin offering instead, said Sean Neville, co-founder at Circle, a consumer payments startup, during a panel discussion at The Information’s “Future of Finance” event at the Time Warner Center.

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“We’re in such the Wild West days,” said Mr. Bromberg. “We’re going to see a huge shift in how ICOs and token sales happen even over the coming months as the market starts to figure [things] out.”

-- Serena Saitto contributed to this article.

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