According to Bloomberg on March 16, during the last cryptocurrency bull run, a handful of investment companies raised huge digital asset funds worth at least $1 billion, sparking optimism and hype about blockchain. However, the downward trend of cryptocurrencies has posed a major challenge to these investors, as trillions of dollars have evaporated from the industry's market value in the chaos. Venture capitalists have tightened their investments significantly, with funding for cryptocurrency startups falling to $9.5 billion last year, less than a third of what it would have been in 2022. Now, with Bitcoin prices hitting record highs and new financing deals for startups heralding a recovery in the cryptocurrency industry, Andreessen Horowitz, Haun Ventures, Electric Capital, and Hivemind Capital Partners are still fully invested in cryptocurrencies. Paradigm, which caused outrage last year when a temporary update to its website deleted content about cryptocurrencies, is reportedly raising new funds and declined to comment for this article.
