February 27, 2024

Venture investments in cryptocurrency space in 2019 exceeded $ 2 billion

Despite the fact that 2019 turned out to be quite a difficult year for the Bitcoin and blockchain industry, investorsretain faith in this space, which is confirmed by the figures: the size of venture investments in the sector this year exceeded $ 2 billion.

According to Crunchbase, it's less than a yearearlier, when a total of 1,148 transactions were concluded for a total of $ 4.65 billion, but more than in 2017, when the volume of venture financing of the blockchain industry amounted to $ 1.41 billion.

Venture investments in cryptocurrency space in 2019 exceeded $ 2 billion

Source: Crunchbase

Among the largest transactions last year are:

Robinhood — $323 million

In July, the mobile application operator forRobinhood Stocks & Cryptocurrencies Robinhood Markets Inc. announced the closure of the Series E financing round, which raised an impressive $ 323 million. The company's capitalization then increased to $ 7.6 billion. In January, the company also received BitLicense - a license for working with virtual currencies from the New York Financial Services Authority (NYDFS) .

Bithumb — $200 million

In April, the parent company of the largestSouth Korean cryptocurrency exchange Bithumb Blockchain Exchange Alliance (BXA) received funding of $ 200 million from the Japanese blockchain fund ST as part of the investment round of series A.

It is noteworthy that in 2018 Bithumb announced a $ 180 million loss, among which the hacking of the exchange and the theft of about $ 31 million last June were among the reasons.

Ripple — $200 million

December 20, fintech company Ripple announcedthe closing of the Series C financing round, which resulted in a record $ 200 million. The capitalization of a California company after that increased to $ 10 billion. The funds raised will be used by Ripple to attract banks and money transfer operators to use the XRP token in international transactions.

Kraken — $100 million

In February, the popular American exchange Krakenclosed the Series C financing round, receiving $ 100 million as a result. The company's capitalization grew to $ 3.9 billion. At about the same time, the San Francisco-based exchange acquired the British regulated crypto derivative platform Crypto Facilities, and a few months later raised $ 13 , 5 million through the sale of private shares through the investment platform BnkToTheFuture.

We also note investment transactions concluded by companies such as Chainalysis ($ 30 million), Elliptic ($ 23 million) and BlockFi - $ 18.3 million.

Find out where else the whales of the bitcoin industry have invested in 2019 in the special ForkLog material.