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<p>Despite a promising start, 2022 was a challenging year for the <a href="https://blockchainreporter.net/tag/crypto/" rel="noopener noreferrer nofollow">cryptocurrency</a> sector due to the <a href="https://blockchainreporter.net/the-rise-fall-and-resurrection-of-terra-luna/" rel="noopener noreferrer nofollow">collapse of Terra in May</a>, which analysts have labelled the latest cryptocurrency winter.</p><p>As the temperature dropped, VC companies pulled in their funds. Crunchbase reports that during the first and third quarters of 2022, global financing for VC-backed crypto businesses fell from $8.8 billion to $6.2 billion and then to roughly $3.4 billion. With barely a few days remaining in the quarter, <a href="https://blockchainreporter.net/tag/crypto/" rel="noopener noreferrer nofollow">crypto</a> companies have only raised roughly $2.4 million.</p><h2 id="header-0">Take a look at the year 2022’s most significant crypto financing rounds:</h2><h3 id="yuga-labs-450m">Yuga Labs; $ 450M</h3><p>Bored Ape Yacht Club is a popular game with a solid fan base. Its developer announced that Andreessen Horowitz would lead a $450 million funding round for the game. The <a href="https://blockchainreporter.net/glossary/non-fungible-token/" rel="noopener noreferrer nofollow">NFT</a> market has now dried up, and reports say that the SEC is looking into <a href="https://www.yuga.com/" rel="noopener noreferrer nofollow">Yuga Labs</a> for trading unregistered securities, even though the financing made the business worth $4 billion.</p><h3 id="consensys-450m">ConsenSys; $ 450M</h3><p>Joe Lubin, who helped create Ethereum, started the company ConsenSys, which makes Ethereum apps like the <a href="https://blockchainreporter.net/defi-decentralized-finance/" rel="noopener noreferrer nofollow">DeFi</a> wallet MetaMask, which has more than 30 million users every month. ConsenSys, a <a href="https://blockchainreporter.net/glossary/blockchain-3-0/" rel="noopener noreferrer nofollow">blockchain technology</a> firm, raised $450 million in March from ParaFi Capital. The value was $7 billion. Since then, the company’s software suite has had privacy problems, which Lubin promised to fix.</p><h3 id="polygon-450m">Polygon; $450M</h3><p>Polygon is a Layer-2 blockchain technology built on Ethereum to help the growth of digital entertainment and financial (DeFi) <a href="https://blockchainreporter.net/glossary/digital-asset-ecosystem/" rel="noopener noreferrer nofollow">ecosystems</a>. Sequoia Capital, Tiger Global, and SoftBank led a $450m fundraising round in February. MATIC, Polygon’s native coin, was valued at $13 billion but is now around $7 billion.</p><h3 id="circle-400m">Circle: $ 400M</h3><p>USDC, issued by Circle, is the second-largest <a href="https://blockchainreporter.net/glossary/stablecoin/" rel="noopener noreferrer nofollow">stablecoin</a> after Tether. It disclosed a $400 million capital round in April, including participation from well-known investors like BlackRock and Fidelity. SPAC integration plans to take the firm public at a $9 billion value went through in December due to concerns over receiving SEC permission.</p><h3 id="ftx-us-400m">FTX US; $400M</h3><p>In January, FTX US, the American outpost of the FTX exchange, secured $400 million in Series A financing at an $8 billion value. Everyone reading this is undoubtedly aware that the fund’s Paradigm,  Multicoin Capital, Temasek, and Softbank invested in made a bad choice.</p><h3 id="ftx-400m">FTX; $400M</h3><p>Offshores FTX exchange raised $400M in January to reach $32 billion. “Meme round” investors gave FTX $420,690,000 in October 2021.</p><h3 id="animoca-brands-358-8m">Animoca Brands; $358.8M</h3><p>Animoca Brands raised $358.8M in January, backed by Liberty City Ventures. Following Axie Infinity’s incident, “play-to-earn” games are no longer called <a href="https://blockchainreporter.net/glossary/gamefi/" rel="noopener noreferrer nofollow">GameFi</a>.</p><h3 id="near-protocol-350m">NEAR Protocol; $350M</h3><p>NEAR is a blockchain competing with Ethereum that lets developers construct decentralised apps. After starting in October 2020, it secured considerable finance, including a $350M round in April 2022 headed by Tiger Global. After reaching $12.5 billion in April, its cryptocurrency has dropped to $1 billion.</p><h3 id="amber-group-300m">Amber Group; $300M</h3><p>Amber Group, a <a href="https://blockchainreporter.net/tag/trading/" rel="noopener noreferrer nofollow">crypto trading</a> startup, raised $300M in December, headed by Fenbushi Capital US. Bloomberg said the Singapore-based corporation dropped a sponsorship arrangement with Chelsea FC and laid off 40% of its workers.</p><h3 id="mysten-labs-300m">Mysten Labs; $300M</h3><p>In September, Mysten Labs secured a Series B funding round of $300 million headed by FTX Ventures for $2 billion. Sui, developed by Mysten, is a forthcoming Layer-1 <a href="https://blockchainreporter.net/glossary/proof-of-stake-pos/" rel="noopener noreferrer nofollow">proof-of-stake</a> blockchain managed by a former member of the Meta crew.</p>

Top 10 Cryptocurrency Funding Rounds in 2022

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