Venture capital firms headquartered in Silicon Valley initially sought to dominate the cryptocurrency world, achieving some initial success. However, this strategy hit a snag between 2021 and 2023 as they invested heavily in speculative projects with limited real-world applications. These ventures drew retail investors but offered no substantial benefits to society. As a result, Silicon Valley venture capitalists are struggling; reflected in their aggressive marketing efforts and lackluster product offerings. Notably, Bitcoin and Ethereum, despite being ignored by these firms, currently hold an enormous combined value of over $2.5 trillion and remain major players in the crypto market.