The big bosses collectively "cut back on spending"—can you believe it? Just last month (March), these VC giants were still throwing around $2.6 billion in the investment circle's "KTV," happily splashing cash.

But by April, the tone suddenly changed, and these folks all ran off to eat Sha County snacks on the street corner!
Throughout April, our crypto community only managed to raise a total of... uh, I mean, raise $659 million!
A direct ankle cut, a 74% plunge!
This amount, abruptly shrunk from the "Yellow River Falls" to a "small creek," setting the poorest record since July 2024!
Along with this year's "lucky money" (total funding), it barely reached $5.64 billion.
The landlords have no surplus funds either.
Previously, when big investors funded projects, it was like casting a net for a sea king—by March, they discussed 84 deals at once (number of deals);
by April, they turned into picky mothers-in-law, only interested in 63.
Why are they so stingy? Actually, it’s not entirely their fault.
Let me do some math for you: from October last year (2025) to now, the total market cap of our entire crypto community has evaporated by about 37%!
The water level has plummeted wildly, risk appetite has dropped to freezing point, and the big shots are all pulling their hands back into their blankets, afraid of freezing their fingers off.
In this cold winter, who’s still eating meat?
But here’s the interesting part!
In this "starving and starving" capital winter, which sectors can still make the big bosses willingly open their wallets?
DeFi (Decentralized Finance): The eternal big brother, the most resilient!
They took 12 rounds of funding at once—what does that mean?
It shows that in the eyes of the investors, the fundamental logic of making money in finance is always the most attractive.
Blockchain services & AI: These two brothers each took 8 rounds.
After all, now the trendy story is "AI + Crypto," and everyone wants to get in early and try their luck.