Record Amount of Venture Funding Flooding Into Crypto Companies, Clocks $15,547,000,000 in Nine Months: Report
Blockchain companies this year are being inundated by record amounts of venture funding to the tune of over $15 billion.
According to distributed ledger market intelligence platform Blockdata, blockchain networks secured a record $6.58 billion in funding during the third quarter of the year, breaking the previous all-time high of $5.13 billion set in the second quarter of the same year. In the first quarter, they raised $3.83 billion, bringing the total amount of funds raised during the first nine months of 2021 to a staggering $15.54 billion.
“Q3 marks an all-time high: never has so much funding been raised by blockchain companies in a single quarter. Note that Q2 previously already marked an all-time high.
The total (disclosed) amount of funding for blockchain companies in Q3-2021 was $6.586 billion.
This is almost double the total amount of funding which was raised in all of 2020. In 2020, a total amount of $3.802 billion was raised by blockchain companies.”
Centralized crypto exchange platform FTX received $900 million in July, the largest funding round ever made by a blockchain network to date, according to Blockdata. Other companies such as Bitcoin-focused firm Blockstream, crypto exchange BitPanda and BTC mining company Genesis Digital Assets were also able to raise hundreds of millions of dollars during the Q3 peak.
The most active fund contributor in Q3 was San Francisco-based cryptocurrency exchange giant Coinbase, which participated in 18 rounds of blockchain investments, including endowments for rival exchange companies FTX and CoinDCX.
Other notable institutional contributors were US-based investment firm Polychain Capital, crypto operator fund Divergence Ventures, seed money startup Y Combinator, and mobile and blockchain gaming investment company Animoca Brands.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Philipp Tur/Andy Chipus
Go to Source
Author: Daily Hodl Staff