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Today: December 5, 2024
March 3, 2024
1 min read

Is Crypto Making a Comeback? VC Funding on the Rise


TLDR:

– Venture capital investments in crypto startups saw an increase in the fourth quarter of 2023.

– In February, various crypto startups announced recent funding raises, indicating renewed investor interest in the crypto space.

In February, a diverse group of crypto startups announced recent funding raises, signaling that investors’ interest in crypto may be on the rise again. The total venture capital investments in crypto startups reached $1.9 billion in the fourth quarter of 2023, representing a 2.5% rise from the previous quarter. This growth is in line with the resurgence of investor interest in crypto startups in early 2024, driven by the approval of Bitcoin exchange-traded funds (ETFs).

Several crypto startups, including Lava Protocol, Analog, Helika, Truflation, and Omega, secured funding in February. Venture capital firm Andreessen Horowitz (a16z) announced a $100-million investment in Ethereum’s restaking protocol EigenLayer. Other investments include funds from Binance Labs for its liquid restaking service Renzo, $27 million for consensus layer Avail, and $150 million from Hack VC for early-stage crypto and artificial intelligence (AI) startups.

Key Points:

– Venture capital investments in crypto startups increased in the fourth quarter of 2023.

– Various crypto startups secured funding raises in February, signaling renewed investor confidence in the crypto market.


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