Cryptocurrency NewsUSA Emerges as Global Hub for Crypto Startups

USA Emerges as Global Hub for Crypto Startups

In spite of undergoing regulatory scrutiny in the USA, crypto companies persist in pushing the boundaries of innovation.

A recent report by Galaxy Digital, a crypto investment firm, reveals that nearly half of all capital investments are being directed towards U.S.-based crypto businesses. The report, published on July 14, highlights the substantial interest shown by venture capital firms in supporting these startups.

Related: Why the SEC Holds Key Importance in the Crypto World in 2023?

“US-based crypto startups accounted for more than 43% of all deals completed and raised more than 45% of the capital invested by VC firms.”

Out of the total capital investment in the crypto industry, the United Kingdom secured 7.7%, while Singapore and South Korea attracted 5.7% and 5.4% respectively. However, it is important to note that the overall amount of capital invested in crypto and blockchain startups has been decreasing from one quarter to another.

The report highlighted that only $720 million was raised by 10 new crypto venture capital funds in the second quarter of 2023. This represents the lowest amount since the onset of the COVID-19 pandemic in the third quarter of 2020.

“Crypto and blockchain startups raised less money across the last three quarters combined than they did in just Q2 last year.”


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