Crypto Startup Funding Falls to a One-Year Low

07/13 06:23

According to Bloomberg, funding to private crypto companies in the second quarter fell to its lowest level in a year, according to data from the research firm PitchBook. The hype around crypto startups made the sector seem briefly immune to the economic turmoil. It set a record of $9.85 billion in venture funds raised in the first quarter. The second quarter gives a truer glimpse at the gloominess. Venture capitalists invested $6.76 billion into crypto companies in the period that ended in June, a 31% decline from the previous quarter, PitchBook said.
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