Fun

News Feed - 2023-08-25 01:08:00

Cointelegraph Research7 hours agoCrypto VC inflows drop further as macro factors weigh on investmentsPolychain Capital and CoinFund launch new funds, and spot Bitcoin ETFs approval rumors can’t brighten the outlook for crypto VC sector.1342 Total views23 Total sharesListen to article 0:00ResearchJoin us on social networksJuly saw a drop in capital inflows from venture capitalists by 10.26% resulting in $700 million raised according to Cointelegraph Research VC Database. The last two months rejected the potential upward trend, as it seems that macroeconomic conditions revolving around the United States Federal Reserve rate hikes and geopolitical events are still having a more severe impact on VCs’ decision making. 


With this in mind, many firms are staying risk-off with most of their reserves, while some are deploying portions of capital to value investments. Generally, VCs are closely examining each new project for potential investment opportunities, preferring to follow smart money instead of taking stabs in the dark.


Purchase access to the Cointelegraph Research VC Database.


However, not everything is so grim in the crypto VC sector. Polychain Capital launched an Investment Fund IV for $200 million, and CoinFund launched a Seed Fund IV for $152 million in July. Under current conditions, they can be considered notable outliers. For comparison, June only saw three crypto funds emerge, raising less than $100 million in total.


The hype around the potential approval of spot Bitcoin (BTC) exchange-traded funds (ETFs) in the U.S. is also heating up, and if one can receive approval from the SEC, it could revitalize the industry and drive the next crypto bull run. The approval will likely send an inspiring signal for crypto VCs and bring more attention and capital into the industry. Though, we are yet to see whether this will turn the investment trend upside down.Infrastructure and Web3 stay ahead


Web3 has been one of the most active sectors measured by the number of deals, and July was no exception, with 26 individual deals raising $256.2 million. Conversely, infrastructure has brought in the most capital inflows recently and continued to do so, with $279 million over 24 deals in July. Decentralized finance followed up with $140.1 million invested across 19 deals, and centralized finance alongside with nonfungible tokens (NFTs) is yet again closing off the list.


Polygon and Binance Labs participated in four rounds in the month of July. Interestingly, 0xBoost Finance, Aethir, Dappos and Delabs Games attracted investments from several prominent investment companies, including Polygon, Binance Labs, HashKey Capital and others.


However, none of these projects are among the top raisers. Web3 startup Zyber 365 is heading the list with a Series A round of $100 million. The round makes Zyber another fintech unicorn valued at over $1.2 billion, and the funds are intended to fuel global expansion.


Infrastructure solution provider Flashbots, which primarily focuses on reducing the negative impact of maximal extractable value on the Ethereum blockchain, managed to close a Series B round of $60 million from Sanctor Capital, HashKey, Animoca and others. Meanwhile, artificial intelligence (AI) metaverse startup Futureverse managed to close a $54-million Series A round from 10T Holdings and Ripple. Futureverse is a combination of 11 startups from various spheres ranging from blockchain and AI to NFTs and gaming, and aims to expand the company’s ecosystem.


The upward trend hasn’t continued in July, resulting in another month’s investments decreasing. Investor activity is lower, and although the positive sentiment about Bitcoin and Ether (ETH) ETFs approval in Europe and in the U.S. may change the VC landscape, it is unlikely that the blockchain industry will see a quick return to the steady upward trend.# Blockchain# Research# Business# Venture Capital# ReportAdd reactionAdd reactionRead moreWho invented NFTs?: A brief history of nonfungible tokensOpinion: Why did Bitget seize more than $200,000 of my money?The future of BTC mining and the Bitcoin halving

News Feed

Best Altcoins to Buy Before Bitcoin Becomes ‘Exponentially Harder to Buy’
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Kevin O’Leary Buys More Crypto, Gets Paid in Crypto, Partners With FTX Exchange
Kevin O"Leary Buys More Crypto, Gets Paid in Crypto, Partners With FTX Exchange Shark Tank star Kevin O’Leary, aka Mr. Wonderful, is increasing his cryptoc
Binance gets Dubai crypto license following CZ’s departure: Report
Zoltan Vardai57 minutes agoBinance gets Dubai crypto license following CZ’s departure: ReportThe full regulatory license could turn the tides for Binance, which has been under intense regulatory scrutiny for at least t
Kenya Expects to Earn $46 Million as New Tax Targeting Crypto Exchanges Comes Into Force
Kenya Expects to Earn $46 Million as New Tax Targeting Crypto Exchanges Comes Into Force The Kenya Revenue Authority (KRA) is expecting to earn up to 5 billion K
More Than a Third of Africa’s 53 Million Crypto Owners Are From Nigeria, Study Shows
More Than a Third of Africa"s 53 Million Crypto Owners Are From Nigeria, Study Shows With an estimated 53 million cryptocurrency owners, the African continent now accounts for 16.5
Defi More Scalable Than Traditional Finance, New Study Says
Defi More Scalable Than Traditional Finance, New Study Says Despite the market conditions that prevailed in much of 2022, decentralized finance (defi) still demonstrated its greate
Leading Auction House Sotheby’s Auctions 107 Bored Ape Yacht Club NFTs for $24 Million
Leading Auction House Sotheby"s Auctions 107 Bored Ape Yacht Club NFTs for $24 Million The British-founded American multinational corporation headquartered in New York City, Sotheb
Swiss Stock Exchange’s Crypto Trading Volume Soars — Hits Record $1.2 Billion
Swiss Stock Exchange"s Crypto Trading Volume Soars — Hits Record $1.2 Billion Switzerland’s principal stock exchange has revealed that its crypto trading
Harris campaign is making a ‘concerted effort’ on crypto — Circle CEO
Turner Wright8 hours agoHarris campaign is making a ‘concerted effort’ on crypto — Circle CEOJeremy Allaire discussed his impressions of Harris campaign representatives on crypto after attending a video call with i
Eunoia – a Knowledge Community DAO Platform for Professionals
Eunoia - a Knowledge Community DAO Platform for Professionals press release PRESS RELEASE.DemandCircle is delighted to announce the official launch of Eunoia, Web 3.0’s very own d
Prashant Jha27 minutes agoTrader exploits Multichain opening to turn $280k to $1.9M; community suspects insider jobThe momentary opening of the frozen bridge raised suspicion of it being an insider job as the trader in q
Ripple to Participate in the Digital Dollar Project’s CBDC Sandbox Program
Ripple to Participate in the Digital Dollar Project"s CBDC Sandbox Program The non-profit organization promoting the creation of the digital dollar, the Digital Dollar Project, has