The amount of venture capital funding in the crypto industry fell to a minimum in a year

From April to June, venture investments in crypto startups amounted to $6.76 billion. Compared to the first quarter($9.85 billion) the figure fell by 31%, writes Bloomberg.

The agency cited data from research firm PitchBook.

Data: Bloomberg.

“The digital asset market began to slow down in November-December, and deals were still being discussed. They were closed in the first quarter,— Robert Le, a fintech analyst at PitchBook, explained the dynamics.

According to the specialist, the statistics for the second quarter gives a more accurate picture of the situation in the industry. Now there are more doubts when making deals, he added.

Bloomberg found explanations for this in the collapse of Terra, the serious problems of Celsius and Babel Finance, as well as waves of staff cuts from Coinbase, Gemini and Crypto.com.

CoinFund managing partner David Pakman said many deals have fallen through in recent weeks, with investors often withdrawing buy offers.

"What you're seeing now is a ~20% drop in seed grade, ~50% for Series A, ~70% for Series B and beyond.", the specialist explained.

The expert suggested that the companies supported by his firm accumulate cash. This will be required in order to get through the difficulties in the next two years, since they will not end "in a month."

The agency noted that not everyone shares this view. In particular, Multicoin announced the creation of a fund in the amount of $430 million.

Recall that Lightspeed created a special division with a focus on the blockchain. The company has raised $7.1 billion in four new structures that invest, among other things, in fintech and crypto startups.

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