Crypto Companies Raise $2.6 Billion in Q1, a Low Since Q4 2020
Crypto companies raised $2.6 billion in 353 investment rounds, a 64.4% year-over-year drop in funding and a 78% year-over-year drop in the number of deals, according to PitchBook's Q1 2023 Crypto Investment Report, which also recorded the lowest investment volume in crypto since Q4 2020. Seed rounds grew 33.3% and late-stage funding grew 209.2% during the quarter, but early-stage funding fell 16.7%.
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