Cryptocurrency fund-raising is at its lowest level since 2017, according to data from Messari. Firms in the space are facing headwinds as they struggle to secure capital amid market volatility and regulatory uncertainty.
Q3 2020 saw a drastic fall in crypto fundraising, largely driven by the bear market that has characterized the broader crypto sector this year. A report released today states that capital raised in the sector has dropped to the levels last seen in January 2020.
IYK, a blockchain-based fashion platform, is celebrating a major achievement – the successful completion of its $16.8M Series A funding round. The investment aims to power token-enabled fashion with NFTs and will be used to improve key areas of the fashion industry.
Dwayne “The Rock” Johnson and Oprah Winfrey have partnered to launch a fundraising initiative to support those affected by the devastating wildfires in Maui, Hawaii. The new pro-crypto fund will be managed through a collaboration with Mask United, a crypto platform.
Reeling from the development, digital asset trading platform RECUR announced its closure today, two years after raising $50M in venture capital. The SEC investigation of the platform and its senior management team have been cited as a primary factor in its demise.
Crypto firms raised a combined total of $129 million last week, led by the decentralized liquidity platform Flashbots, which pulled in over $44 million. Other firms, including Celo, Starkware, and Tracr, also saw notable investments.
Polychain Capital, one of the leading crypto venture capital firms, has raised $200 million for their fourth fund, according to Fortune. This is a significant milestone for the firm as it marks the largest ever fund raised for venture capital in the cryptocurrency space.