More venture capital funding went into crypto this year than all previous years combined, about quadruple the previous high of US$8 billion in 2018. (Bloomberg)
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More venture capital funding went into crypto this year than all previous years combined, about quadruple the previous high of US$8 billion in 2018. (Bloomberg)
Talking point: The eye-popping number underscores just how wild 2021 has been for crypto. Cryptocurrencies became integrated into the mainstream financial system this year, through Bitcoin ETFs, pension funds taking stakes in crypto companies and payment giants like Visa and Mastercard exploring the sector. Vancouver-based NBA Top Shot maker Dapper Labs was one of the biggest beneficiaries of lavish VC spending this year, raising US$305 million in March and another US$250 million in September, with the latest round valuing the company at US$7.6 billion. Two companies—Ontario Teachers’-backed cryptocurrency-trading platform FTX and crypto custodian New York Digital Investment Group—both raised US$1 billion in 2021.
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