Crypto venture capitalist (VC) funding plunged to a near two-year low in April as investors pulled back from crypto start-ups and early-stage companies.

Crypto VC funding fell to $659 million across 63 funding rounds in April, down 74% from the $2.6 billion seen across 84 rounds in March, according to Cryptorank data. This brings the total year-to-date investments to $5.64 billion so far in 2026.

The April total was the lowest monthly fundraising sum since July 2024, when crypto projects raised $622 million across 132 rounds.

The drop suggests venture investors became more selective as crypto markets remained under pressure following months of weaker liquidity and risk appetite.

Monthly VC funding has been declining since October 2025,…