It’s not just in your head—our deals section has been thinner as of late, and recent data on venture funding for crypto startups show why.
Crypto and blockchain startups raised just $900 million in the first quarter, according to PitchBook data on announced deals, down 87% from the same period in 2022 and the smallest haul since the fourth quarter of 2020, when crypto fundraising came in at $800 million. The number of deals fell by roughly two-thirds to 136.