Global venture capital funding reached $15 billion in the first nine months of the year, an increase of 384% compared to the previous year’s total of $3.1 billion.
Cryptocurrency investor Coinbase Ventures outperformed the competition with 24 transactions in the third quarter, while CMT Digital and Polychain Capital tied for second place with nine transactions apiece.
Andreesen Horowitz, Jump Capital, and Digital Currency Group were tied in the fourth spot with eight deals each.
Digital Currency Group is the parent company of CoinDesk.
World leader in VC funding
The United States maintained its position as the world leader in venture capital funding into the cryptocurrency industry, investing a record $2.97 billion in the third quarter, a slight increase from the previous quarter’s figure of $2.87 billion and the fifth consecutive quarter of increases overall.
According to business trend monitor CB Insights, bitcoin startups raised a record $4 billion in venture capital in the second quarter, amid a flurry of $31 billion in fintech acquisitions in general, representing a nearly 30% rise over the same period the previous year.
The study noted large funding rounds, such as the one from stablecoin startup Circle, which raised a then-record $440 million in May, according to the paper.
Crypto exchanges reaping gains
For the third quarter, the United States was followed by Asia, which invested $1.4 billion, and Europe, which poured in $1.1 billion.
FTX’s $900 million funding round was the largest of all equity deals in the third quarter, according to CB Insights. It was followed by a $680 million raise from France-based non-fungible token platform Sorare and a $431 million funding round by bitcoin miner Genesis Digital Assets, according to the same source.
Crypto exchanges were the most successful industrial segment in the third quarter of last year, raising about $2 billion in venture capital, a significant increase from the $84 million raised in the previous quarter.
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