Since the start of the fourth quarter, crypto has seen exceptional bulls all over the world. Given China’s proactive approach to implementing a crypto ban, the former crypto hub’s start-ups and investment behemoths are now relocating to the US crypto market. According to CB Insights’ most recent report, the value of venture investments in cryptocurrency has skyrocketed, rising from $3.1 billion in 2020 to $21.3 billion by November 30 of this year globally.
Furthermore, crypto deals in China have dropped by more than 50% since last year, as has the total value of investments in crypto and blockchain startups in the country, which has also dropped significantly, falling to $214 million in 2021. However, the United States appears to be replacing China, as it has locked in approximately $10.9 billion in crypto and blockchain investments, a sevenfold increase. The global gravitation of investment behemoths and start-ups toward crypto may presage the decentralized industry’s entry into the mainstream arena sooner rather than later.
Chris Bendsten, a CB Insights analyst, stated, “We’ve basically seen no deals in China… Companies in Asia are primarily based in Hong Kong, India, and Singapore.” Furthermore, the fourth quarter of 2021 has been the most active in terms of crypto startup investment, “and we’re not even into December,” according to Bendsten.
According to CB Insights, November was a good month for VC funding in cryptocurrency.
ULTCOIN365 covered the same CB Insights Report at the end of last month, highlighting out-performing crypto data in the Venture Capital Funding sector. Over $3 billion in venture capital funding was confirmed in November alone, according to the report. The largest crypto venture fund ever raised, worth $2.5 billion, was raised by the crypto-dominated investment firm, Paradigm. Other companies on the list included GRIID, a Bitcoin mining infrastructure company that acquired $525 million from Blockchain.com, and Gemini, which raised $400 million in a funding round in November.
“Early-stage rounds (seed/Series A) dominate dealmaking, accounting for nearly 80% of deals in 2021 YTD…
According to Anand Sanwal, CEO and co-founder of CB Insights, “investors like Coinbase Ventures are bursting onto the scene — the VC arm was by far the most active blockchain crypto investor with 24 deals in the quarter.”