On July 14th, cryptocurrency investment firm Galaxy Digital reported that startups in the cryptocurrency industry based in the United States have benefited significantly from venture capital (VC) investments.
Startups in the cryptocurrency industry based in the United States account for over 43% of the total completed transactions and have raised over 45% of the investment capital from VC firms.
The United Kingdom accounts for 7.7% of the investment capital, while Singapore and South Korea attract 5.7% and 5.4% respectively.
However, the total investment capital into cryptocurrency and blockchain startups continues to decline quarter by quarter.
“Only $720 million was raised by 10 new cryptocurrency VC funds in Q2 2023.”
“Companies in the ‘Web3’ category have more transactions, while companies in the ‘Commerce’ category raise more capital.”