Total funding at crypto startups this year is set to exceed investments in 2021, research firm Pitchbook said, though the pace of capital deployment is slowing as a series of crypto blowups sapped private equity investment appetite. | Reuters
“The lack of clear regulation and guidance remains one of the crypto industry’s greatest concerns and limiting factors,” said Robert Le, crypto analyst at PitchBook.
A number of FTX backers including Singapore state investor Temasek Holdings, SoftBank Group Corp’s Vision Fund and Sequoia Capital marked down their investment to zero after the crypto exchange filed for bankruptcy.
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