Ethereum News Daily TheBitTimes.com

Despite the ongoing tumultuous market conditions, VC investments in European crypto startups hit an all-time high of $5.7 billion in 2022. 2022 was a turbulent year for the crypto space, to say the least; from an ongoing bear market and crash for LUNA to the downfall of FTX one of the industry’s most prominent players. Despite the setbacks, VC investors continued to show support for crypto startups. According to a new study released by European investment firmRockawayX, VC investment in crypto startups based in Europe reached its all-time high in 2022 with $5.7 billion invested European DeFi Startups hit $1.2 billion in 2022, which is a 120% increase from the previous year’s Investments of $534 million Viktor Fischer, the CEO of RockawayX, pointed out that the crypto market is cyclical and during the 2018 winter, “the total digital asset market cap fell by 80%, but startup funding activity held steady.” “Investments made when digital asset prices were depressed materialized in tech ...

It is unclear how much assets custodied on behalf of crypto VCs are stuck in Silicon Valley Bank. According to a report that began circulating on March 11 in the aftermath of the collapse of Silicon Valley Bank (SVB), prominent Blockchain venture capitalists (VCs) have over $6 billion worth of assets held by the now-defunct financial entity. These include $2.85 billion from Andreessen Horowitz (a16z), $1.72 billion from Paradigm and $560 million from Pantera Capital. A16z currently holds active investments in projects such as Alchemy, Sky Mavis and Yuga Labs, and was previously an investor in crypto currency exchange Coinbase. Paradigm has invested in projects such as Compound, Cosmos and Uniswap. Meanwhile, Pantera Capital holds stakes in projects such as 1inch, Ankr and Zcash. The report, compiled by Castle Hall due diligence and extracted from United States Securities and Exchange Commission filings, is a point-time disclosure of the VCs’ assets held in custody by SVB. It does not...