VCs invested a record $ 6.5 billion in crypto and blockchain in Q3: CB Insights

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Global cryptocurrency and blockchain venture capital funding hit an all-time high of $ 6.5 billion in the third quarter of 2021, surpassing the second quarter’s discounted total of $ 5.2 billion, according to a new report from market intelligence firm CB Insights.

For the quarter, 286 crypto transactions were recorded, down slightly from 291 in the second quarter.

For the first nine months of the year, global venture capital funding reached $ 15 billion, up 384% from the total of $ 3.1 billion for 2020.

Coinbase Ventures was the most active crypto investor in the third quarter with a significant margin with 24 trades, while CMT Digital and Polychain Capital are tied for second with nine trades each.

Andreesen Horowitz, Digital Currency Group and Jump Capital tied for fourth with eight transactions each (Digital Currency Group is the parent company of CoinDesk).

Read more: VCs Injected $ 4 Billion Into Crypto Firms In Q2: CB Insights

The United States continued to lead the world in venture capital funding in the crypto industry, investing a record $ 2.97 billion in the third quarter, up slightly from the 2 figure. $ 87 billion second quarter and fifth consecutive quarter of overall increase. For the third quarter, the United States was followed by Asia with $ 1.4 billion invested and Europe with $ 1.1 billion.

Globally, the FTX crypto exchange’s $ 900 million fundraising round drove all equity transactions in the third quarter, followed by a $ 680 million increase from the French platform. Sorare non-fungible token (NFT) and a $ 431 million fundraising round by bitcoin miner Genesis Digital Assets, according to CB Insights.

Crypto exchanges were the main segment of the industry in the quarter, raising nearly $ 2 billion in venture capital funding, compared to just $ 84 million raised in the third quarter of 2020.

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