Crypto VC funding falls for fourth consecutive month, hits two and a half year low | Headlines | News | CoinMarketCap
09/01/2023 23:29
The flow of venture capital into crypto and web3 startups in August ground to a low point not seen in over two years. Venture capitalists invested …
The Block6 minutes ago
Worldcoin
April
Published on September 01, 2023 16:23 GMT+00:00edited on September 01, 2023 16:24 GMT+00:00
The flow of venture capital into crypto and web3 startups in August ground to a low point not seen in over two years.
Venture capitalists invested less than half a billion dollars in crypto businesses in August, according to The Block Research data. That marks the fourth consecutive month of declining venture funding volumes in the space — and the lowest monthly volume figure recorded since January 2021.
"I think people mistake the 'napkin math' amount of dry powder out there for a need and desire for VCs to deploy that the same way they did in 2021 - 2022," said Tom Schmidt, managing partner at crypto VC firm Dragonfly.
"VCs are being more judicious and slower in deployment and trying to pick up the few good companies that are rising to the top — many companies that raised …