Crypto Investment Firms Face Challenges Amid Market Downturn
By
Elena Valdez
1 min read
⚠️ Heads up: this article is from our "experimental era" — a beautiful mess of enthusiasm ✨, caffeine ☕, and user-submitted chaos 🤹. We kept it because it’s part of our journey 🛤️ (and hey, everyone has awkward teenage years 😅).
During the previous crypto bull market, investment firms raised massive digital asset funds over $1 billion, driving blockchain optimism. However, the crypto downturn posed challenges as market capitalization plummeted. Venture capitalists reduced investing, leading to a sharp decline in funding for crypto startups to $9.5 billion, less than a third of 2022's.