Business
Has the FTX mess iced venture interest in crypto?
It hasn’t been a kind year for blockchain-based startup activity. In addition to an asset-price correction during a general venture capital slowdown, web3-focused tech upstarts have also had to deal with a series of intra-industry crises that have, at times, dominated technology headlines.
The Terra/Luna mess comes to mind. As does the meltdown of Three Arrows Capital. That’s not to mention the rapid fall of FTX and its related entities.
The Exchange explores startups, markets and money.
Read it every morning on TechCrunch+ or get The Exchange newsletter every Saturday.
Amid all of the above, many folks building or investing in blockchain-based assets and protocols have kept their chins up. Evidence of that abounds — startups are still being founded and scaled in the web3 space and venture investors are still writing checks. Business as usual then, right?
Perhaps.
It’s worth recalling that in 2022, the pace at which venture capital dollars were disbursed into web3-focused businesses — a broad term; I am not trying to weigh in on the crypto-versus-bitcoin argument — has declined this year. Crunchbase data examined by my alma mater Crunchbase News noted recently, for example, that after a Q4 2021 peak, capital raised by businesses dealing with cryptocurrency or blockchains fell in each successive quarter through Q3 2022.
-
Entertainment7 days ago
Summer Movie Preview: From ‘Alien’ and ‘Furiosa’ to ‘Deadpool and Wolverine’
-
Entertainment5 days ago
What’s on the far side of the moon? Not darkness.
-
Business6 days ago
Thoma Bravo to take UK cybersecurity company Darktrace private in $5B deal
-
Business6 days ago
How Rubrik’s IPO paid off big for Greylock VC Asheem Chandna
-
Business5 days ago
TikTok faces a ban in the US, Tesla profits drop and healthcare data leaks
-
Business4 days ago
London’s first defense tech hackathon brings Ukraine war closer to the city’s startups
-
Business7 days ago
Zomato’s quick commerce unit Blinkit eclipses core food business in value, says Goldman Sachs
-
Business6 days ago
Photo-sharing community EyeEm will license users’ photos to train AI if they don’t delete them