According to CoinMeta, the global settlement network indicates that the crypto industry is experiencing a wave of accelerated closures, with over 100 crypto projects having shut down, filed for bankruptcy, or essentially disappeared in 2026. Data from RootData shows that declining altcoin prices, depleted token reserves, and scarce venture capital have exposed companies lacking sustainable economies. Kirkley points out that many of these failures were foreshadowed during the financing boom of 2020-2021. Galaxy Research reports that in the first quarter of 2026, venture capitalists invested approximately $4 billion in 355 crypto and blockchain transactions, which is about half of the investment amount in the fourth quarter of 2025. Kirkley believes that many projects were overvalued during their fundraising rounds, leading to negative outcomes. Despite a weak market, he sees that the crypto industry is finally seeing the long-awaited adoption, and in the past month, he has met with seven government representatives interested in blockchain technology.