Crypto Industry Funding in 2023 Q1 Totaled $2.4 Billion, Lowest Level Since Q4 2020

According to the latest data from Galaxy Digital, the crypto industry saw a total of 439 investment and funding deals in Q1 2023, up about 20 percent from 366 in Q4 2022, with seed-stage funding deals accounting for a higher share of the total, but the crypto industry's investment and funding volume was only $2.4 billion in Q1, the lowest level since Q4 2020, according to Blockworks. This is the lowest level since Q4 2020. In terms of verticals, the Web3, NFT, DAO, metaverse, and gaming subsectors received the most funding deals, while crypto trading, lending, and wallet subsectors received higher funding sizes. In addition, the US received the highest number of investments in crypto startups, followed by France.