Crypto venture capital fund Reforge plans to raise $80 million and has raised $25 million so far. Reforge co-founder and general partner Alexander Lin and co-founder Carl Hua previously held senior positions at Shima Capital until they left in January and founded Reforge, hoping to find technology that makes it easier for founders and developers to accept blockchain. "We believe that the current state of L1 blockchain is not suitable for the best consumer founders." In addition, many of the highly anticipated new cryptocurrencies launched this year have performed poorly. Lin believes that the main reason is that capital allocators are pushing for a quick launch of tokens to get returns. It also criticized the overheated investment in cross-border startups between crypto and artificial intelligence, and questioned the feasibility of decentralized computing networks to meet the power needs of AI tools. (Bloomberg)