Since the end of May 2014, over $100 billion has been raised for cryptocurrency startups.
Looking back, there have been ups and downs amid regulatory uncertainty and market volatility, but the past four years have seen both upper and lower limits raised, even as peaks and troughs continue.
data sauce According to a report by TVL aggregator DefiLlama, as of June 16, 2024, the total fundraising recorded in the cryptocurrency industry has reached $101.35 billion. Back in May 2014, just five years after Bitcoin’s creation (and still a year away from the launch of Ethereum), the first month of recorded fundraising for cryptocurrency startups was a relatively paltry $17.14 million.
Ten years later, in May 2024, industry fundraising hit $280.25 million in the month, a significant increase from a decade ago but still far short of the $777.11 million from the previous month.
Crypto startup funding peaked in October 2021 with over $7 billion raised. February 2022’s $3.67 billion was the second-highest on record, with no month to match it.
Nearly half of all cryptocurrency funding comes from US investors, according to the latest research through 2023. The rest is split between several countries, with the UK (7.7%) and Singapore (5.7%) taking second and third places, according to Q2 2023 figures.
As Cointelegraph recently reported, a series of high-profile funding deals have materialized in late 2023 and early 2024.
Together.AI and cross-chain protocol Wormhole both raised $225 million in investments in late 2023, while open source cloud storage companies Totter and Eigenlayer added $101 million and $100 million, respectively.
Other big fundraising rounds include Swan Bitcoin’s $165 million and Blockchain.com’s $110 million.
Related: Spot Trading of Ethereum ETF Could Begin by July 2 – Bloomberg Analyst
