TLDR:
- Crypto startups secured $777 million from VC funds in May
- Blockchain infrastructure received $630 million, leading the investments
Crypto startups garnered $777 million from venture capital funds in May, marking a slight decline from the previous month. The majority of the investments, totaling $630 million, were directed towards projects focused on building blockchain infrastructure. Farcaster had the largest infrastructure-related funding round with $150 million, while the Bitcoin decentralized finance ecosystem and the NFT sector also received significant attention from VCs. Additionally, web3-focused applications and blockchain gaming saw an increase in funding, showcasing the growing interest from venture capital firms in various sectors of the crypto industry.
