Crypto venture funding climbs for first time in nearly 2 years after bitcoin's stellar run
Publishing timestamp: 2024-02-16 08:40:41
Summary
PitchBook reported that venture funding for crypto-related companies in the fourth quarter of 2023 totaled $1.9 billion, marking a 2.5% increase from the prior quarter. This increase is seen as a positive sign for the crypto industry, with notable fundraises for companies like Swan Bitcoin and Blockchain.com. The rise in crypto asset prices and public market valuations of companies like Coinbase has also contributed to the positive sentiment in the industry. The activity can be attributed to the wave of interest in crypto from financial institutions following the launch of the first spot bitcoin exchange-traded funds in the U.S.
Sentiment: POSITIVE
Tickers: MSTR, BTC.CM=, COIN, MARA,
Keywords: bitcoin/usd coin metrics, coinbase global inc, breaking news: markets, markets, marathon digital holdings inc, internet, technology, venture capital, business news, breaking news: technology, microstrategy inc,