A former venture capital investor explains that while some crypto VCs, especially Asian and lower-tier Western funds, have ceased or paused investments due to lingering effects from the 2022 Luna collapse, this does not indicate the death of the entire crypto VC sector. The industry is undergoing a consolidation phase with more established firms persisting and adapting. The author implies that despite setbacks, crypto venture capital remains a significant force driving innovation and growth within the blockchain ecosystem.