Crypto and blockchain startups haven’t been having a good time raising funds for quite a while now, given the overall slowdown in funding, a stronger focus on due diligence, and concerns over the macroeconomic environment and regulations in the U.S.
At first glance, August seemed to bring some relief to startups in the space, with venture capitalists investing $819 million across 91 companies, per fresh data from PitchBook. That was about 51% more than the $542.8 million that companies in the space raised in July.
However, August only looks good because of the huge $400 million round raised by “Shariah-compliant” digital asset exchange Haqqex, and the $100 million round raised by crypto custodian Bit …
