Half of the capital raised in the third quarter was from seven venture deals, with Revolut leading the way with a $1 billion investment.
Crypto-focused venture capital investment reached $4.65 billion in the third quarter, the second-highest amount of activity since crypto exchange FTX collapsed in late 2022 and decimated venture bets on crypto.
Galaxy Digital’s head of research, Alex Thorn, said in a report on Monday that Q3’s venture bets were a 290% quarter-on-quarter jump and the largest quarter since Q1, which saw $4.8 billion in investments.
The growing investment activity comes amid a lull period for crypto venture capital, which has largely pulled out of the industry following the uncovering of FTX’s massive fraud in November 2022, which led to the exchange’s collapse into bankruptcy.
