A slowdown is expected is that “activity in eight of the leading VC markets over the last 12 months is down 50% from the peak; it has worsened the performance of some of the largest tech/cryptocurrency investors, who prioritized existing investments rather than deploying more capital, and the outflow of "tourist capital" has grown as investments in tokens and equities become more more challenging hanging a bearish crypto market, a similar pattern to that seen during 2018/19,” he added.