Fun

Asia, Africa see rise in share of crypto startups this year, says accelerator

News Feed - 2024-07-11 12:07:47

Brayden Lindrea5 hours agoAsia, Africa see rise in share of crypto startups this year, says acceleratorResearchers compiling the data believe the changes were due to regulatory uncertainties in the US and increased crypto adoption in emerging markets.652 Total views5 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksThe share of cryptocurrency startups launching in Africa and Asia increased to their highest levels ever in the first half of 2024, snatching share from the United States and Canada amid recent regulatory uncertainty. 


According to a July 10 X article by blockchain startup accelerator and founder community Alliance, Europe overtook the US and Canada as the leading place for new cryptocurrency startups in H1, making up a 31.4% share, while Asia came third place with a 26.8% share.


Alliance DAO’s Qiao Wang and “Chloexyg" believe the trend could be due to regulatory uncertainties in the US and digital asset applications seeing more adoption in emerging markets.


Africa also saw its share rise to 5.2% — slightly below Latin America — while Oceania, comprising mostly Australia and New Zealand, saw only 1.8% of the total crypto startups in the first half of the year. Share of cryptocurrency startups by continent since 2021. Source: Alliance


Alliance said it compiled the data through the 3,000 annual applications it receives for its startup accelerator program.


“Because of the sheer sample size and the fact that we are relatively agnostic to these factors, we are able to derive unique insights into where the industry is heading.”


The same regulatory uncertainties cited by Alliance forced self-custody service providers Phoenix Wallet and Wasabi Wallet to recently exit the US market, while several other firms have expanded elsewhere too.


Many have blamed the US Securities and Exchange Commission’s regulation-by-enforcement approach.


Meanwhile, the number of startup founders coming fromBig Techfirms has fallen more than 15 percentage points since 2021, Alliance’s data shows.


Related:Binance, Coinbase and Gemini staff are among the least happy, data suggests


There’s also been a similar fall in the number of founders that come from a top 100-ranked university.Share of founders in cryptocurrency startups that graduated from a top 100-ranked university in 2021. Source: Alliance


About 39% of startups were launched by a solo founder, while 51% of startups comprised teams between 2-5 members.


Magazine:Meet the hackers who can help get your crypto life savings back# Asia# Research# Business# Africa# Startups# SEC# Adoption# DataAdd reaction

News Feed

$1 Billion in Bitcoin and Ether: One River Hedge Fund to Increase Holdings From $600 Million
$1 Billion in Bitcoin and Ether: One River Hedge Fund to Increase Holdings From $600 Million Hedge fund management firm One River Asset Management has invested $
Zhiyuan Sun7 hours agoMaple Finance secures SEC exemption for on-chain Treasury poolsLaunched in April, the USDC pools were previously accessible only to non-U.S. accredited investors.1277 Total views9 Total sharesListen
Algorithmic Bitcoin and Ethereum Social Attention List Ranks Influencers With Math
Algorithmic Bitcoin and Ethereum Social Attention List Ranks Influencers With Math On November 19, Hive.one, a project that maps the community clusters of Bitcoi
Swingby Partners With Chainlink To Secure Bitcoin Bridge
Swingby Partners With Chainlink To Secure Bitcoin Bridge press release PRESS RELEASE. Swingby has recently announced a newly established partnership with Chainlink for Proof of Rese
Bitcoin To $1.5 Million? Ark Invest CEO Cathie Wood Says It’s Coming
Este artículo también está disponible en español. ARK Invest’s Cathie Wood is steadfast on her estimate that Bitcoin may rise to $1.5 million by 2030, despite a bol
Tokenization’s next phase requires real-world data integration — Chainlink
Ezra Reguerra1 hour agoTokenization’s next phase requires real-world data integration — ChainlinkChainlink Labs’ director of capital markets said that enhancing tokens with real-world data could unlock better appli
USDT Transactions on Tron Surpassed Ethereum Tether Transactions Every Day in 2021
USDT Transactions on Tron Surpassed Ethereum Tether Transactions Every Day in 2021 During the last two months, tether transactions have spiked considerably. More
Elon Musk to advertisers trying to ‘blackmail’ X — ‘Go fuck yourself’
Martin Young4 hours agoElon Musk to advertisers trying to ‘blackmail’ X — ‘Go fuck yourself’The billionaire X owner lashed out at advertisers ditching the platform due to his controversial posts.1756 Total view
Europe’s fourth largest hedge fund put nearly $500M in Bitcoin ETFs — Filing
Alex O’Donnell4 hours agoEurope’s fourth largest hedge fund put nearly $500M in Bitcoin ETFs — FilingOther hedge funds are also reporting sizable positions in Bitcoin exchange-traded funds.3930 Total views6 Total s
Gareth Jenkinson9 hours agoRipple CTO says ‘tide is turning’ on US regulatory environmentDavid Schwartz believes the U.S. legal system is looking more skeptically at SEC cases against various cryptocurrency industry
Coinbase narrows subpoena, wants Gensler’s emails during time as SEC Chair
Brayden Lindrea15 minutes agoCoinbase narrows subpoena, wants Gensler’s emails during time as SEC ChairCoinbase initially demanded a subpoena into Gary Gensler’s private communications before his time as SEC Chair bu
India’s Crypto Trading Volume Plunges Further as Mobikwik Stops Payment Service
India"s Crypto Trading Volume Plunges Further as Mobikwik Stops Payment Service Cryptocurrency trading volumes in India have plunged further across exchanges as traders mull over t