With insights from PitchBook, a market research platform, the venture funding for crypto-related companies amounted to $1.9 billion in the fourth quarter of 2023, a 2.5% increase from the third quarter . The rise is expected to mark the first rise for venture capital (VC) investments in crypto startups since March 2022, stated Cointelegraph.
Sources revealed that the major crypto ventures securing funding focused on financial and technological solutions. These include tokenising real-world assets on the blockchain, such as real estate and stocks, and building decentralised computing infrastructure, among others.
The deal of the quarter is believed to involve a $225 million investment in Wormhole, an open-source blockchain development platform. It is believed the company acquired a valuation of $2.5 billion and was supported by Coinbase Ventures, Jump Trading and ParaFi Capital,among others.
The report showed a fall of about 11% decline in deal value from the previous quarter and a 12.2% decrease in total deals. Furthermore, the quarter made the lowest capital investment in the space since 2020, concluded Cointelegraph.
(With insights from Cointelegraph)
