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Venture capital funding in crypto rises to $2.4 billion: PitchBook

Economic TimesEconomic Times · 7m
Venture capital funding in crypto rises to $2.4 billion: PitchBook

Crypto startup funding reached $2.4 billion in the first quarter of 2024. This marks a second consecutive quarterly increase as interest in cryptocurrencies grows. The rise in funding can be attributed to lower interest rate expectations and the launch of the first U.S. bitcoin spot ETF, which boosted investor confidence. Although global venture capital investments dropped, investments in digital asset startups have seen recovery. Infrastructure-building startups in the crypto and blockchain industry received the most funding. The largest deal was a $106 million investment in decentralized cloud platform Together AI. Mergers and acquisitions are expected to increase later in the year as the market matures.

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