Following a record first half last year, investments in startups focusing on the cryptocurrency industry are down amid the so-called crypto winter, data showed.

See related article: Polkadot is top crypto held by VCs and hedge funds in Q4 2021

Fast facts

• Venture capital funding in crypto startups fell nearly 26% to US$9.3 billion across 534 deals in the first half of 2022 compared to US$12.5 billion across 456 deals in the same period a year earlier, data compiled by Crunchbase showed.

• The first quarter witnessed larger investment rounds with six rounds of US$400 million or above and total investments reaching US$5.1 billion, data showed.

• However, investments in the second quarter were slower at US$4.2 billion, nearly the same as last year, with only one round above US$400 million, Crunchbase said.

• The drop in crypto startup funding mirrors a global pullback across sectors amid falling stock markets and asset prices.

See related article: Blockchain, crypto investment soars in H1 2021