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action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114Source:https:\/\/techcrunch.com\/2023\/03\/31\/crypto-q1-decline-analysis\/<\/a><\/br> Crypto-focused venture capital<\/span> investors are trucking along in their work. Many remain confident in their investing strategies despite an enervated first-quarter market for crypto startup fundraising. Others are noticing a sharper decline in investing pace.<\/p>\n \u201cI definitely saw a big slippage and drop in activity [in] Western markets,\u201d in Q1 2023, said David Gan, founder and general partner of OP Crypto. \u201cI don\u2019t think people are heavily deploying, and rounds are taking a lot longer to close than ever before.\u201d<\/p>\n In Q1, $2.53 billion in capital was raised across 347 crypto and blockchain companies, down 79% from $12.27 billion in the year-ago quarter and a decrease of about 18% from $3.08 billion raised by the same corporate cohort in the previous quarter, according to preliminary PitchBook data.<\/p>\n The stark contrast from the year-ago quarter is unsurprising. The crypto world was in a different place back then. FTX, for example, was still a prominent crypto exchange and raised a $400 million round<\/a>, bringing its total capital raised to $2 billion and giving the company a valuation of $32 billion at the time.<\/p>\n The climate has changed since then: FTX crumbled<\/a> and Terra\/Luna collapsed<\/a> (and brought down $40 billion with it). Meanwhile, a series of Chapter 11 bankruptcy filings transpired across mega crypto institutions, including FTX, BlockFi<\/a>, Three Arrows Capital<\/a>, Celsius Network<\/a>, Voyager Digital<\/a> and Genesis Global Trading<\/a>.<\/p>\n This past quarter was a \u201cthawing of people wanting to open their checkbooks,\u201d Michael Terpin, CEO of Transform Ventures, said. \u201cRight after FTX, it\u2019s predictable that no one wanted to invest in anything.\u201d<\/p>\n<\/p><\/div>\n <\/br><\/br><\/br><\/p>\n
\nInvestors unfazed by Q1 crypto funding decline<\/br>
\n2023-03-31 21:47:02<\/br><\/p>\n