Record Amount of Venture Funding Flooding Into Crypto Companies, Clocks $15,547,000,000 in Nine Months: Report

Blockchain companies this year are being inundated by record amounts of venture funding to the tune of over $15 billion.

According to distributed ledger market intelligence platform Blockdata, blockchain networks secured a record $6.58 billion in funding during the third quarter of the year, breaking the previous all-time high of $5.13 billion set in the second quarter of the same year. In the first quarter, they raised $3.83 billion, bringing the total amount of funds raised during the first nine months of 2021 to a staggering $15.54 billion.

 

Source: Blockdata

Centralized crypto exchange platform FTX received $900 million in July, the largest funding round ever made by a blockchain network to date, according to Blockdata. Other companies such as Bitcoin-focused firm Blockstream, crypto exchange BitPanda and BTC mining company Genesis Digital Assets were also able to raise hundreds of millions of dollars during the Q3 peak.

The most active fund contributor in Q3 was San Francisco-based cryptocurrency exchange giant Coinbase, which participated in 18 rounds of blockchain investments, including endowments for rival exchange companies FTX and CoinDCX.

Other notable institutional contributors were US-based investment firm Polychain Capital, crypto operator fund Divergence Ventures, seed money startup Y Combinator, and mobile and blockchain gaming investment company Animoca Brands.

 

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