The volume of venture financing from global crypto firms has risen to $3.8 billion since the beginning of the year. At the same time, only five companies have raised more than $30 million. The industry leader is Tools for Humanity, a project pioneered by ChatGPT creator Sam Altman.

Global crypto firms have raised $3.8 billion in venture funds since the start of the year

The total volume of funds raised by global crypto companies since the beginning of the year has reached $3.8 billion, profile journalist Colin Wu reported on his blog.

The volume of investments in January amounted to $570 million, in February – $950 million, in March – $770 million, in April – $820 million, in May – $760 million. At the same time, in May 2023, it was attracted 66% fewer funds than in May 2022, Wu noted.

Only five companies managed to raise more than $30 million, the leader among them being Tools for Humanity, whose project, Worldcoin, is being promoted by ChatGPT creator Sam Altman.

Auradine raised $81 million, crypto wallet startup Magic raised $52 million in a round led by PayPal Ventures, River Financial raised $35 million in a Series B round, and mining company Cormint raised $30 million in an A round.

As a share of total funding, infrastructure projects attracted 29%, NFT/GameFi 26%, DeFi projects 18%, CeFi projects 6%.


Kirill Bilyk

Source: RB

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I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.


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