Great timing for those blockchain startups who held all their cash in crypto and are now feeling the pain.
In the non crypto world orgs usually hold short term t-bills or other cash equivalents to help offset inflation. In the crypto space I see a lot of teams holding stablecoins, which is similar. Some hold their entire allocation in something super volatile which is a bad idea in the same way it’s a bad idea to take VC money and buy Tesla stock with it or gamble on GME options.
IMO treasury management is just another risk to manage as part of a business. If not managed properly you go out of business and if it’s because you were dumb with VC money by betting it all on Bitcoin then you likely won’t get more VC money again.