Crypto venture funding drops 59% to $1.9 billion in Q2, later-stage deals dominate
Crypto venture funding declined 59% quarter-over-quarter to $1.976 billion in the second quarter across 378 deals.
According to a Galaxy report, last quarter was the second-smallest investment quarter since the fourth quarter of 2020.
Later-stage deals captured 52% of total capital invested, representing only the second time since the first quarter of 2021 that mature companies received more funding than early-stage startups.
The dramatic quarterly drop appears less severe when accounting for unusual activity registered in the first quarter, which included MGX’s $2 billion investment in Binance.
Excluding that sovereign-connected fund deal, the second quarter funding decreased 29% from the previous quarter.
Galaxy Digital’s report…
