129 Cryptocurrency Startups Raised $2.6 Billion in Q1: CB Insights Report
Venture capitalists are pouring money like crazy into cryptocurrency-related companies, according to CB Insights.
In the first half quarter of 2020, $2.6 billion was raised by 129 startups focused on the blockchain. In just three months, the crypto industry had raised more than they did in all of 2020 when they attracted $2.3 billion in 341 deals.
This jump in fundraising was fueled by several large rounds by the likes of game-maker Dapper Labs Inc., crypto wallet provider Blockchain.com, and crypto lender BlockFi Inc., according to the data analysis company.
With the cryptocurrency market reaching a $2 trillion market capitalization, corporations, hedge funds, high net-worth individuals, institutions, asset managers, pension funds, and insurance companies are all coming in to invest in the crypto space.