Kingdom

Galaxy

Gains

A recent report published by Galaxy Digital, a crypto investment firm, reveals that despite regulatory scrutiny in the United States, crypto firms in the country are still driving innovation.In fact, nearly half of all capital investments in the crypto industry are flowing toward U.S.-based crypto businesses.The report, released on July 14, highlights the significant share of interest from venture capital (VC) firms in U.S. crypto startups.It states that these startups accounted for more than 43% of all completed deals and raised over 45% of the capital invested by VC firms.Meanwhile, the United Kingdom secured 7.7% of the capital investment, with Singapore and South Korea attracting 5.7% and 5.4% respectively.However, the report also points out that the total amount of capital invested in crypto and blockchain startups has been declining quarter-to-quarter.Only $720 million was raised by 10 new crypto VC funds in Q2 2023, marking the lowest since the beginning of the COVID-19 pandemic in Q3 2020.READ MORE: <a href="https://www.cryptointelligence.co.uk/coinbase-temporarily-suspends-staking-services/" rel="noopener noreferrer nofollow">Coinbase Temporarily Suspends Staking Services</a>Interestingly, the combined capital raised by crypto and blockchain startups in the last three quarters was less than what they raised in Q2 of the previous year.The report reveals that while companies in the “broad Web3 category” had more deals, it was companies in the “trading category” that raised more capital.These findings come at a time when the United States Securities and Exchange Commission (SEC) has been taking action against several U.S. crypto firms.In a case between the SEC and Ripple Labs, a judge recently ruled partially in favor of Ripple by declaring that XRP is not a security when sold on digital asset exchanges.Ripple CEO Brad Garlinghouse has criticized the SEC, believing that the regulatory body is stifling innovation and the cryptocurrency industry in the United States.He argued that the SEC’s handling of the Hinman speech documents during the Ripple case reflects its overall negative stance toward the crypto industry.Adding to the regulatory actions, the SEC also took action against major crypto exchanges Binance and Coinbase in early June, accusing them of violating securities laws and offering unregistered securities.Despite these regulatory challenges, the report highlights the resilience and ongoing investment interest in U.S. crypto startups, emphasizing their crucial role in driving innovation within the industry.Other Stories: <a href="https://www.cryptointelligence.co.uk/sec-stresses-crucial-clarification-amid-coinbase-battle/" rel="noopener noreferrer nofollow">SEC Stresses Crucial Clarification Amid Coinbase Battle</a><a href="https://www.cryptointelligence.co.uk/bitcoin-long-term-holders-return-as-btc-price-surges/" rel="noopener noreferrer nofollow">Bitcoin Long-Term Holders Return as BTC Price Surges</a><a href="https://www.cryptointelligence.co.uk/cardano-surges-23-9-following-favorable-xrp-ruling-investors-eye-further-gains/" rel="noopener noreferrer nofollow">Cardano Surges 23.9% Following Favorable XRP Ruling, Investors Eye Further Gains</a>

US Crypto Firms Defy Regulatory Scrutiny, Attracting Nearly Half of All Capital Investments

Crypto Intelligence

Other articles published on Jul 16, 2023

TRX Price Prediction: When Will It Be a Good Time to Buy?

Shiba Inu Burns 915 Million SHIB Tokens in Epic Week, Here's Impact

Shiba Inu Team Announces Summer of Shibarium; Is SHIB About to Surge?

Celsius Sues StakeHound, Seeks to Recover $150M Worth of Crypto

Terra Luna Classic Community Empowers Change: Votes to Revise LUNC Gas Fees and Staking Undelegat...

Crypto Community Predicts $0.0822 Dogecoin Price by July 31

Join our free newsletter for daily crypto updates!