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

Building crypto companies is challenging, but using the downturns intelligently can help you emerge as a stronger company.

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

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.

The crypto boom showcased how distributed systems experience could lead to massive valuations without any product or even a white paper, highlighting a pattern of overvaluation in speculative markets.

During the crypto winter, we witnessed Bitcoin drop below $6,000, leading to a loss of VC and institutional interest. We had to learn to be extremely efficient and scrappy with our limited incubation capital.

In 2017, I became a believer that there would be more than one successful cryptocurrency in the long run.

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.

The best advice for those in the crypto space is to take a long-term view, as crypto will continue to change the world in ways we can't yet imagine.