Crypto VC Funding Surges in Q2 Despite Market Downturn
CryptoNewsTerminal Staff11 Aug, 2024
Crypto VC Funding Surges in Q2 Despite Market Downturn
Crypto VC Funding Rebounds in Q2 Venture capital investment in the cryptocurrency industry rebounded in the second quarter of 2023, hitting $2.7 billion, a 2.5% increase from the previous quarter, according to data from PitchBook. This represents a 9.8% decrease year-over-year but signals a recovery from the previous quarter's decline. While the overall funding environment remains challenging, several factors have contributed to the uptick in funding, including the recovery of several key cryptocurrencies and increasing institutional adoption. PitchBook analysts anticipate further increases in funding as these trends continue. Additionally, mergers and acquisitions among crypto exchanges, custodians, and infrastructure providers are expected to accelerate as smaller players seek exits amid market maturation.
