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.
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- 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