Venture Capital Injects $2.49 billion into Crypto Startups in Q1 2024

Data compiled by Galaxy Research shows that after three consecutive quarters of decline, venture capital investment in cryptocurrency and blockchain startups has seen a significant increase. In Quarter 1, 2024, venture capital institutions injected $2.49 billion into 603 deals in crypto startups, raising 29% more money than the previous quarter, and the number of deals increased by 68% from the previous quarter. Several factors influenced the investment dynamics this quarter, including the launch of Bitcoin exchange-traded funds (ETFs), innovation in areas such as remortgaging, modularity, and Bitcoin second-layer solutions, as well as macroeconomic factors such as interest rates.