Following a record first half last year, investments in startups focusing on the cryptocurrency industry are down amid the so-called crypto winter, data showed. 

See related article: Polkadot is top crypto held by VCs and hedge funds in Q4 2021

Fast facts

  • Venture capital funding in crypto startups fell nearly 26% to US$9.3 billion across 534 deals in the first half of 2022 compared to US$12.5 billion across 456 deals in the same period a year earlier, data compiled by Crunchbase showed. 
  • The first quarter witnessed larger investment rounds with six rounds of US$400 million or above and total investments reaching US$5.1 billion, data showed. 
  • However, investments in the second quarter were slower at US$4.2 billion, nearly the same as last year, with only one round above US$400 million, Crunchbase said. 
  • The drop in crypto startup funding mirrors a global pullback across sectors amid falling stock markets and asset prices.

See related article: Blockchain, crypto investment soars in H1 2021