Crypto Startup Investments Fall for Fifth Consecutive Quarter: Pitchbook Data

The chart of the day is brought to you by crypto dot com. The world's fastest growing crypto app in today's chart of the day, we take a look at the flow of VC funds in crypto. According to a new report by pitchbook, investments in crypto startups have dropped for the fifth straight quarter. Crypto companies worldwide raised $5 billion in the first half of this year. That's down almost 75% from a year ago. Q two numbers showing the lowest in amount of capital invested and deals completed since the end of 2020. Despite this, the data firm says Blockchain infrastructure attracted the largest investments with layer two scaling solutions raising large rounds in the beginning of 2023 like interoperability protocol layer zero which raised $120 million at a series B valued at nearly $3 billion. Pitch book notes that VC investment in crypto companies have correlated with markets lagging roughly 3 to 6 months. If the trend continues. VC investments should rise during the latter half of 2023. That's it for today's chart of the day. I'm Jenna. We'll see you next time to unpack more of the data behind top news stories.