📉 Crypto startups raised $2.1 billion in Q3 2023, down 36% from the previous quarter. The situation is reminiscent of the market decline in Q4 2020.

- Seed funding accounted for the largest portion of fundraising - $488 million in 98 deals.

- Venture capital funding for cryptocurrencies has been declining since Q2 2022.

- 54% of all active venture investors are from the United States, more than the entire world combined.

- Investors are focused on blockchain infrastructure, but without successful crypto applications, investments may not meet expectations.