The crypto market had a rough start to the year, losing over $300 billion in value as the price of Bitcoin and other assets fell to new lows; investors have continued to rush to startups in the field. According to a CNBC report, during the crypto market fall, the worth of numerous privately owned crypto businesses increased rapidly.
For example, after raising $800 million from investors in January, FTX, a rapidly growing crypto exchange, saw its valuation climb to $32 billion, while its US branch rose to $8 billion.
Interestingly, crypto and blockchain-related firms collected a combined total of $25 billion in 2021 as venture capitalists and investors alike aimed to capitalize on the space’s expanding popularity and adoption by the general public.
Despite the fact that asset values have plummeted to new lows, investors continue to be driven to the business.. According to PitchBook statistics, firms in the blockchain and crypto sectors garnered nearly the same amount as startups in Africa in 2021.
