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 <p class="is-style-lead">According to research firm PitchBook data, venture capitalists invested $2 billion in crypto during Q3, 2023.</p>
 <p>Venture capitalists seem to slow down their investments in the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> market as global <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> <a rel="noopener noreferrer nofollow" title="funding" href="https://thebittimes.com/tag/funding.html">funding</a> during the third quarter of 2023 hit the <a rel="noopener noreferrer nofollow" title="lowest" href="https://thebittimes.com/tag/lowest.html">lowest</a> <a rel="noopener noreferrer nofollow" title="level" href="https://thebittimes.com/tag/level.html">level</a> over the past few years. In Q3, investors around the globe put only $2 billion in <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> projects, representing a 63% decline from the same period in 2022, Bloomberg reports, referring to data from PitchBook.</p>
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   <source type="image/webp" srcset="https://cdn.thebittimes.com/images/2023/10/09/dd5aebbbb62ae7f18f942a4819af9556.webp.webp">
   <img decoding="async" width="641" height="300" src="https://cdn.thebittimes.com/images/2023/10/09/dd5aebbbb62ae7f18f942a4819af9556.webp" alt="Global crypto venture funding hits lowest level since 2020 - 1"> 
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   Global crypto venture funding | Source: PitchBook
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 <p>As noted by PitchBook analyst Robert Le, the market is no longer seeing the big deals anymore, adding that their size is “one of the drivers of the decline.”</p>
 <blockquote class="wp-block-quote">
  <p>“If they’re not able to raise a round, even a down round, they’re either going to go out of business or get acquired at a valuation that’s much, much lower.”</p> <cite>Rober Le, PitchBook analyst</cite>
 </blockquote>
 <p>Le noted the market is likely to stay in this negative trend for a while due to a large-scale mistrust among investors triggered after FTX went bust. Given that the now-bankrupt crypto exchange and its hedge fund Alameda Research have such a vast portfolio, it could “further depress valuations in this space,” the PitchBook analyst added.</p>
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 <p>As <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>.news earlier reported, by the end of September 2023, Bitcoin-based products experienced outflows for a few weeks, suggesting that investors are continuing to liquidate short positions.</p>
 <p>Analysts at CoinShares believe investors are becoming more discerning in the altcoin market, with continued inflows into XRP and Solana (SOL) at $0.66 million and $0.31 million, respectively.</p>
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Stablecoin market cap down 35% 18 months after Terra collapse
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/global-crypto-venture-funding-hits-lowest-level-since-2020-tbt65659.html">https://thebittimes.com/global-crypto-venture-funding-hits-lowest-level-since-2020-tbt65659.html</a></p>

Global crypto venture funding hits lowest level since 2020

TheBitTimes

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