Is the need for more venture capital hindering the EU's competitiveness in the web3/crypto industry? Find out why top crypto VCs are not based in the EU.
- The EU needs to catch up in funding for web3/crypto projects, with none of the top 25 crypto VCs based in the region.
- The lack of VCs has raised concerns about the EU`s competitiveness in the crypto industry.
- Regulatory uncertainty and lack of capital are alleged as major contributing factors to the concern.
Despite the growing interest in cryptocurrency and blockchain technology, the European Union (EU) needs to catch up in funding such projects. According to Patrick Hansen, the head of policy at Circle, only some of the top 25 crypto venture capitalists (VCs) are based in the EU, which raises concerns about the region’s competitiveness in the web3/crypto industry.