# @pcaversaccio: Crypto VCs like a16z and Paradigm fund grifters, not builders

Source: https://x.com/pcaversaccio/status/1957067722509959541
Kiwi News: https://news.kiwistand.com/stories/pcaversaccio-Crypto-VCs-like-a16z-and-Paradigm-fund-grifters-not-builders?index=0x68a1e3c89e21c1785366201361b0c4841a807ecc7efb1115493be9ce0225e451b95df696
Submitted by tim on 2025-08-17 UTC, 2 upvotes, 0 comments

## Summary

Pcaversaccio argues that crypto venture firms such as a16z and Paradigm fund grifters and shallow gimmicks rather than builders, and that their priority is capital deployment and optics rather than conviction. The post cites Blast, which it calls a ponzi-like scheme backed by Paradigm, as an example. It also contrasts the over $100m Blast reportedly raised with Roman needing to justify each cent he spends on his defence, though the post does not explain that case further.

## Article

Crypto VCs like a16z or Paradigm aren't backing builders. They're funding a lot of fucking grifters and dressing up shallow gimmicks as "innovation".  Their game isn't conviction, it's capital deployment. Principles don't matter, only optics. They are like thirsty dudes that get too horny fast. Just take a look at Blast, another ponzi-like scheme backed by Paradigm. VCs aren't principled allies guys, they're not even neutral bystanders. They're enemies of where this space needs to go. I still can't believe this shitshow has raised over $100m whilst Roman needs to justify himself for each cent he needs for his defence. This makes me vomit.