A CoinDesk analysis shows just how quiet crypto VC and other investment has gotten, with volume dropping 91% in January. BrandyBetz reports
Funding rounds can take months to finalize or close, and some of the investments reflected last month were likely already raising money when the FTX collapse started in early November. The coming months will show exactly how much investment capital dried up after the FTX scandal came to light.FTX’s demise created doubts about the whole centralized exchange model of trading crypto, and persuaded some that decentralized finance and decentralized exchanges are the better way forward.
The fundraising data compiled by CoinDesk shows that wariness may have showed up in investments, with CeFi deals sinking 99% to $22.8 million in January 2023. Also, the CeFi firms that managed to raise money had a tie to DeFi. That includes Architect, a startup founded by Brett Harrison, former president of FTX US,Infrastructure projects had the softest landing, dropping a relatively small 59% to $357 million, the CoinDesk data shows. That dollar amount was also the highest for any category.
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