It hasn’t been a kind year for blockchain-based startup activity. In addition to an toptechtrends.com/2022/10/11/crypto-vc-deals-continue-drop-as-activity-follows-bearish-market-prices/”>asset-price correction during a general venture capital slowdown, web3-focused tech upstarts have also had to deal with a series of intra-industry crises that have, at times, dominated technology headlines.
The toptechtrends.com/2022/05/25/terra-community-passes-proposal-to-revive-luna-cryptocurrency-following-stablecoin-led-implosion/”>Terra/Luna mess comes to mind. As does the toptechtrends.com/2022/07/01/crypto-mega-hedge-fund-three-arrows-capital-reportedly-files-for-bankruptcy-in-new-york/”>meltdown of Three Arrows Capital. And that’s not to mention the toptechtrends.com/2022/11/22/ftxs-bankruptcy-hearing-details-prior-control-by-inexperienced-and-unsophisticated-individuals/”>rapid fall of FTX and its related entities.
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Amid all of the above, many folks building or investing in blockchain-based assets and protocols have kept their chins up. Evidence of that abounds — startups are still being toptechtrends.com/2022/11/22/carv-funding-40-million-valuation/”>founded and scaled in the web3 space and toptechtrends.com/2022/11/09/web3-messaging-infrastructure-notifi-raises-10m-seed-round-co-led-by-hashed-race-capital/”>venture investors are still writing checks. Business as usual then, right?
Perhaps.
It’s worth recalling that in 2022, the pace at which venture capital dollars were disbursed into web3-focused companies — a broad term; I am not trying to weigh in on the crypto-versus-bitcoin argument — has declined this year. Crunchbase data examined by my alma mater Crunchbase News noted recently, for example, that after a Q4 2021 peak, capital raised by companies dealing with cryptocurrency or blockchains fell in each successive quarter through Q3 2022.
toptechtrends.com/2022/11/25/has-the-ftx-mess-iced-venture-interest-in-crypto/”>Has the FTX mess iced venture interest in crypto? by toptechtrends.com/author/alex-wilhelm/”>Alex Wilhelm originally published on toptechtrends.com/”>TechCrunch
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