Amid regulatory uncertainty causing trouble for the cryptocurrency industry, venture capital (VC) deals with cryptocurrency companies have continued to decline in the first three months of 2023, representing the fourth quarter in a row of falling investment activity.
As it happens, crypto businesses have raised $2.6 billion in VC globally during the first quarter of this year, which represents an 11% drop in quarter-on-quarter (QoQ) deal value, according to the research published by capital market analytics company PitchBook on May 12.
Specifically, crypto-focused companies around the world managed to raise this amount across 353 investment rounds, a figure which by itself represents a 12.2% drop in the number of deals during this period.
Crypto venture capital deals by quarter. Source: PitchBook
As the authors of the analysis further noted, “this was the lowest amount of capital invested and deals completed since Q4 2020, representing the fourth consecutive quarter of declining inve
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