The crypto market collapse in 2022 was coupled with slowing investment in financial technology more broadly.
The United Kingdom’s crypto and fintech industries saw investment dry up in the latter half of 2022 amid a combination of turbulent macroeconomic conditions and record-high inflation.The Fintech Trajectorycomes from a report published Wednesday by the big four accounting firm, KPMG. Its numbers show a $22 billion drop in Fintech investment in 2022 down to just $17 billion – a 60% decline.
The drop mirrors the roughly equivalent drop in the total cryptocurrency market cap within that time, from overFintech investment also seemed to dry up precisely as crypto entered free fall last year. Karim Haji, a partner at KPMG, said the first half of the year saw far more investment deals than the second half.
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