All eyes will be on the trial of Sam Bankman-Fried next week, which is set to kick off in a Manhattan court on Oct. 3. The trial will bring FTX and its dramatic collapse back into the news, which could spell trouble for crypto proponents who have been advocating for pro-crypto legislation in Washington.

“We realize it's going to be the major headline,” said Kristin Smith, CEO of the Blockchain Association, when we caught up during the Messari Mainnet conference in New York last week. “But we’ve got a pretty steady presence,” she added.

Paradigm has established itself as one of the premier crypto-focused investors. More recently, though, it’s had to navigate the blowup of FTX and faced criticism from the crypto community, who took a website redesign to mean the firm was ditching crypto in favor of AI. I took a look at what’s next for Paradigm in a deep dive published last week. 

One of the most interesting aspects of the story is how Paradigm is structured, and how that ties into how the firm thinks about investments. Paradigm ballooned to 73 employees by the end of last year, though that number has shrunk to 64 currently. 

Venture funding to crypto startups is down significantly compared to last year, when it seemed like a new crypto unicorn was crowned every day. And the pace of fundraising by venture investors has cooled dramatically too. 

The first half of last year saw a string of big crypto fund launches. In March, Haun Ventures announced it raised $1.5 billion across two funds. That same month, Electric Capital said it raised $1 billion for two funds, a $400 million venture fund for making equity investments and a $600 million fund for investing in tokens, the latter of which the firm was able to rake in because of outsized interest for its venture fund, according to a person familiar with the fundraising. And Andreessen Horowitz debuted a $4.5 billion crypto fund last May. 

Crypto firm Genesis, whose lending unit filed for bankruptcy in January, said last week that its parent company, Digital Currency Group, and a committee of creditors had tentatively agreed to a restructuring deal that would be a big step toward paying back customers. But there’s been a lot more going on behind the scenes.

Crypto exchange Gemini, which is the biggest Genesis creditor, has been quietly pitching an alternative plan to other creditors through a creditor group called the Fair Deal Group, I scooped late last week. The details of this plan haven’t burst into public view yet, because Genesis had an exclusive period to propose and finalize its own deal. We’ll find out later on Wednesday whether the clock has run out for Genesis, when a judge rules on giving Genesis an extension. 

Crypto venture funding has cratered since last year, but some startups are bucking the trend by piggybacking off the AI investing craze. 

The latest example: Niraj Pant, a former general partner at crypto-focused venture firm Polychain Capital, is raising at least $20 million in a seed round for a new startup focused on the intersection of crypto and AI, people familiar with the matter said. Fortune reported last month that Pant had left Polychain to found a new startup, but the fundraising details have not been reported.