The crypto industry’s fundraising efforts have suffered during the ongoing crypto winter, with Q3 seeing new record lows for the total funding amount and the number of deals. The quarterly figures fell below $2.1 billion across 297 deals, a 36% decrease compared to the previous quarter.
Decentralized finance (DeFi) emerged as the sector with the highest number of funded projects, with 68 deals in total. The exchange category within DeFi represented 38% of all invested capital across 33 deals. In total, DeFi projects secured $210 million, with an average deal size of $3 million.
Binance Labs was the most active investor during Q3, with 23 deals, surpassing the next closest investor, Robot Ventures, by more than double the number of investments. Binance Labs focused on the DeFi and gaming sectors, as well as projects developing zero-knowledge and privacy technology. Interestingly, 12 of their deals involved projects participating in their accelerator program.
Binance Labs actively participated in the DeFi sector, including strategic investments of $10 million each in Helio Protocol and Radiant Capital. The largest DeFi deal of the quarter involved a $16.5 million Series A funding round for Brine.
Three out of the top four investors in DeFi, based on deal count, were closely affiliated with the ecosystem. Binance Labs, the Base Ecosystem Fund, and Polygon collectively accounted for 16 deals during the quarter.
These findings highlight the challenges faced by the crypto industry during the ongoing crypto winter, with Q3 experiencing significant decreases in funding and deal activity. However, it is promising to see areas like DeFi and gaming still attracting Investment. Binance Labs, despite its legal battles, emerged as the most active investor during the quarter, with a focus on DeFi and gaming sectors..
#DeFi #Defies #Crypto #Fundraising #Slump #Secures #210M #Messari
Decentralized finance (DeFi) emerged as the sector with the highest number of funded projects, with 68 deals in total. The exchange category within DeFi represented 38% of all invested capital across 33 deals. In total, DeFi projects secured $210 million, with an average deal size of $3 million.
Binance Labs was the most active investor during Q3, with 23 deals, surpassing the next closest investor, Robot Ventures, by more than double the number of investments. Binance Labs focused on the DeFi and gaming sectors, as well as projects developing zero-knowledge and privacy technology. Interestingly, 12 of their deals involved projects participating in their accelerator program.
Binance Labs actively participated in the DeFi sector, including strategic investments of $10 million each in Helio Protocol and Radiant Capital. The largest DeFi deal of the quarter involved a $16.5 million Series A funding round for Brine.
Three out of the top four investors in DeFi, based on deal count, were closely affiliated with the ecosystem. Binance Labs, the Base Ecosystem Fund, and Polygon collectively accounted for 16 deals during the quarter.
These findings highlight the challenges faced by the crypto industry during the ongoing crypto winter, with Q3 experiencing significant decreases in funding and deal activity. However, it is promising to see areas like DeFi and gaming still attracting Investment. Binance Labs, despite its legal battles, emerged as the most active investor during the quarter, with a focus on DeFi and gaming sectors..
#DeFi #Defies #Crypto #Fundraising #Slump #Secures #210M #Messari