Evan Cheng, CEO of Mysten Labs, one of the inventors of the SUI project, predicts a revival of investment capital as faith in the crypto bull fades. But this time, he expects a more measured approach, characterized by strategic deployments and increased prudence.
Mysten Labs CEO Expects Strategic Capital Inflow into Crypto Despite Market Slowdown
Cheng said in an interview:
“Investors are looking. The BlackRocks of the world are obviously not stupid. They realize there is an opportunity here. I'm talking to people in the Gulf region, the UAE, Qatar…
There is great interest. They really want to prevent this. The same thing is true in Asia, in the APAC region. “So the money will come, but they will be much, much more strategic about it.”
Cheng, who completed a $300 million round in 2022 with the participation of Andreessen Horowitz's a16z crypto unit, is very experienced in communicating with investors interested in Web3. Earlier this year, it was reported that he was bidding on a Web3 fund worth over $100 million.
Cheng finds the growing interest in crypto and blockchain from traditional financial institutions encouraging. He predicts that a more mature and merit-oriented environment will emerge in the sector.
“Our expectation is that once we get past this extremely bearish, uncertain market, winners will emerge and they will be those rewarded by merit. I'm not saying there won't be speculative activity, but it will be somewhat merit-based.”
*This is not investment advice.