April 25, 2024

Media: Funding for Miami crypto startups fell by 92%

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Media: Funding for Miami crypto startups fell by 92%

Venture investments inCryptocurrency projects in the Florida capital fell by 92% in the first quarter of the year, while funding for Silicon Valley startups fell by 53%.

According to observers, the fallinvestment interest in cryptocurrency projects in Miami was partly caused by the slowdown and scandals in the cryptocurrency industry in the United States. Which was once so big in Miami that the city installed a version of the Wall Street charging bull statue in the central square, but with lasers from the eyes.

In response to the decline in cryptocurrency fundingprojects, a significant number of technical specialists and companies in Miami began to curtail this direction, devoting significantly less time to cryptography and digital assets. Projects related to artificial intelligence, defense and technologies of the real sector of the economy have come to the fore. For example, the plans of the venture capital investment company Countdown Capital, which has been actively investing in crypto-startups in recent years, do not even mention cryptocurrency this year. 

Previously, Miami Mayor Francis Suarez repeatedly stated
about the readiness of the state capital to become the capitalcryptocurrencies and the deep penetration of the digital asset industry into all areas of activity. The official promised measures to attract crypto entrepreneurs and actively implemented
биткоины в местную экономику через ночные клубы and mortgage lending. Before its bankruptcy, one of the world's largest cryptocurrency exchanges, FTX, announced plans to create a representative office in the city, and also became a sponsor of the Miami Heat basketball team and stadium.