Alex Thorn, head of research at Galaxy Digital, says venture capitalists should continue to invest in crypto startups this year after investing more than $30 billion in the crypto industry in 2022. crypto blockchain venturecapital galaxydigital
and online gaming, were 31% of deals in 2022, while 13% were made up of trading platforms.
VCs invested more than $30 billion into crypto and blockchain startups in 2022, according to Galaxy's “Crypto VC Year End” report. Thorn noted, however, that the number of deals and amount of money invested steadily declined every quarter during 2022, pointing out that macroeconomic factors coupled with the fall of significant crypto companies may have played a role in the decrease.The firm found that more money is being invested in later-stage companies, especially those that provide trading and exchange services, he said.
“That makes some sense,” Thorn said, because “there are more later-stage companies than there were years ago.” Thorn also said the U.S. “remains in the leading position” when it comes to crypto VC deals but said policymakers must establish regulations that don't stifle crypto innovation.
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