Crypto startups raised $2.1 billion in Q3 2023

At 3rd quarter 2023the crypto startups have collected only 2.1 billion dollarsaccording to Messari. A level which had no longer observed since the 4th quarter 2020.

This Thursday, Messari has published its report on the state of financing in the sector web3. According to the startup 3rd quarter 2023VCs invested a total of 2.1 billion dollars in cryptocurrency and blockchain startups through just under 300 deals.

The current bear market is perhaps best illustrated by the sector’s fundraising data. The third quarter of 2023 was no exception to the multi-quarter downward trend we’ve witnessed since the start of 2022: the third quarter marked new lows in terms of overall funding amounts and number of transactions not seen since the fourth quarter of 2020″, the company wrote.

The 10 largest investors in this ecosystem completed a total of nearly 100 transactions during the third quarter. Binance Labs, the VC arm of the giant Binance, led the way with over twenty deals. Among the crypto exchange’s investments were Radiant, Mind Network, Web3Go and Multichain.

Read:  Marketing Web3: crypto-native CRM DeForm raises $4.6M

“As we highlighted in August, Binance Labs has been actively investing throughout 2023 with a focus on the DeFi and gaming segments. In addition, projects developing zero-knowledge and privacy technologies also have investment targets for Binance Labs. It’s worth noting that 12 of Binance Labs’ 23 transactions were projects participating in its accelerator program,” says Messari.

Next in line are Robot Ventures, Coinbase Ventures, Hashkey Capital and the Base ecosystem fund, the new layer2 launched by Coinbase.

In Q3 2023, the biggest deals were closed by Futureverse, Risc Zero and Cosmic Wire, FlashbotsZetachain, and BitGo.

For the latest Crypto and Web3 news, visit on TwitterLinkedin, Google, Facebook and Telegram

The Best Online Bookmakers December 05 2023

BetMGM Casino