Investment in Crypto Hits a New Low – How Much was Raised?
Source: Unsplash Venture capital investments in crypto companies hit its lowest level for the year in the third quarter, but still remains well above a 7-year average for the industry. According to data from Galaxy Digital, venture investments into the crypto space in the third quarter reached $5.5bn, still $2bn more than both the peak from 2021 and a 7-year average of crypto venture investments . “Despite the drawdown in broader VC investing, early-stage investing remains competitive and robust,” Galaxy wrote in a report on crypto venture capital. However, it also added that later-stage venture investing showed “notable weakness potentially due to the sustained bloated valuations.” Source: Galaxy Digital In terms of who attracted the most funding within the crypto industry, Galaxy pointed to startups founded in 2021 as the winners in the third quarter of this year. “The cohort led in deal count and came a close second in money investe...