2022 Crypto Fundraising Report
Executive Summary
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Since late 2021, crypto markets have struggled in the face of a challenging macroeconomic background highlighted by rampant inflation and geopolitical conflict. Asset price drawdowns were exacerbated by a violent unwind of unhealthy leverage in the space, which revealed outright fraudulent behavior among some of the industry's most prominent figures. Despite these headwinds, crypto VC funding remained strong in 2022 and set a new high in yearly cumulative fundraising.CeFi and Infrastructure were the two verticals that garnered the most investment, whereas Web3 & NFT projects and companies had the highest deal count, albeit at earlier stages of development. The collapse of centralized entities across the industry discouraged investment into most verticals, particularly CeFi, during the back half of 2022.Public mining companies have seen increased distress throughout the year, which has clearly manifested in the private market. Mining represented the vertical with the least number of deals and capital raised.The breadth of early-stage investors expanded, with 388 different funds/companies leading at least one investment deal. A16z, Binance Labs, Polychain Capital, and Animoca Brands were the most active lead investors thr...Reports you may have missed
WEEKLY RECAP Weekly funding fell from $152 million to $125 million across 23 deals compared to last week’s 31. The largest deal of the week was a $47 million strategic round completed by Securitize, notably led by BlackRock and making CeFi the leading fundraising category this week. As one of the largest asset managers in the world, the investment carries significant weight in legitimizing the tokenization sector. BlackRock used Securitize...
WEEKLY RECAP Crypto funding was relatively unchanged week-over-week, with a 4% decrease to $138 million, while deal count saw a larger decrease, falling 29% to 25 deals. Infrastructure deals comprised 73% of total funding and Web3 and Gaming combined for 26%, with remaining categories making up the last 1%. As highlighted in our Q1 Funding Report, Series A funding has been a standout deal stage this year, and this week...
WEEKLY RECAP Crypto funding rose 92% from $213 million to $410 million, one of the highest weekly totals in months. The majority of funding came from two deals: Monad’s $225 million round (DotW) and Auradine’s $80 million Series B round, the first mining deal of 2024. Auradine’s Teraflux family of Bitcoin ASIC miners has set new performance and energy efficiency benchmarks and has shown robust field performance, which has helped...
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