Running a company in the crypto space is particularly difficult because you're forced to evolve as the market cycles come and go.

Historically, many game-changing companies are founded during downturns because they have the time to aggregate talent and develop their ideas without excessive noise.

Some of the best companies funded by Y Combinator were founded during downturns, indicating that challenging times can lead to successful startups.

Timing is crucial for a successful company; surviving downturns to be present during upturns is essential for long-term success.

During a crypto winter, we must hunker down and use our resources effectively to continue building, so we can ride the next wave of crypto adoption.

Building a business that can thrive in bad economic conditions will make it even more successful when times are good.

Going through a crypto winter is brutal; it's probably the lowest point I've experienced as a founder.

It's important to stick to first principles and communicate the reality of the situation to the team during challenging times. Having open, honest, and vulnerable conversations helped us navigate tough times in the crypto space, and companies that survive these challenges can benefit during the good times.

Invest in founders who have a strong track record and the capability to lead their companies effectively, even if the market is tough.