Crypto Firms Got More Funding Last Quarter Than In All of 2020

April 1, 2021, 7:49 PM

Venture capitalists are pouring money into cryptocurrency-related companies at the fastest clip in years.

In the first quarter, 129 startups focusing on the digital technology known as blockchain raised about $2.6 billion, according to CB Insights. That’s more than in all of 2020, when they attracted $2.3 billion in 341 deals, according to the data analysis company.

The increase was fueled by several large rounds for startups including crypto lender BlockFi Inc., game-maker Dapper Labs Inc. and crypto wallet provider Blockchain.com.

The funding surge is happening as Bitcoin hits record highs, and with companies such as Tesla Inc. diving ...

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