TL;DR:
– Crypto venture capital (VC) funding in Q4 2023 reached $1.9 billion, a 2.5% increase from Q3 2023, marking the first uptick in VC investments in crypto startups since March 2022.
– The number of deals declined by 2.4% in Q4 2023, with a concentration of capital going into fewer companies in the crypto space.
– The most notable crypto ventures receiving funding focused on finance tokenization and decentralized computing infrastructure.
– Wormhole, a decentralized protocol for cross-chain swaps, received the largest deal of $225 million in investment.
– Swan Bitcoin and Blockchain.com received $165 million and $100 million in funding, respectively.
Crypto venture capital (VC) funding has seen an increase for the first time since March 2022, according to data provided by PitchBook. The last quarter of 2023 saw $1.9 billion in VC funding for crypto-related companies, a 2.5% increase from Q3 2023. However, the number of deals declined by 2.4% in Q4 2023, indicating a concentration of capital going into fewer companies. In terms of the most notable funding deals, Wormhole, a decentralized protocol for cross-chain swaps, received a $225 million investment, followed by Swan Bitcoin with $165 million and Blockchain.com with $100 million. These investments largely focused on finance tokenization and decentralized computing infrastructure.
