1704 ET - Prices for numerous cryptocurrencies soared in recent weeks, following the U.S. elections, and that has led to improved business indicators across crypto startups, said Max Shapiro, managing partner at venture firm Cadenza. "Revenue, user engagement are increasing, and there's more appetite for subsequent rounds [of financing] for these companies," Shapiro said. Some of the proposals from the new presidential administration are giving the market a lift, he said. "That being said, it's short term and we'll have to see if these things start to materialize. Hopefully we'll have some clarity in the first half of the year," Shapiro said. (yuliya.chernova@wsj.com)

(END) Dow Jones Newswires

December 04, 2024 17:04 ET (22:04 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.