Crypto VC funding tumbles as economic uncertainty scares off investors
June rejected the three-month trend of rising venture capital investment into crypto, though that’s not necessarily a bearish signal. The month of June closed out with a 29.73% decrease in venture capital invest ments, with just $779.32 million raised in 62 individual deals, according to data from the Cointelegraph Research Venture Capital Database. While the United States Federal Reserve halted interest rate hikes in June, the macro economic climate remains unchanged due to geopolitical uncertainties and continued efforts to tame inflation across the globe. As the data shows, investors remained cautious and in risk-off mode in June, with the growth trend of the previous three months coming to a halt. Purchase access to the Cointelegraph Research VC Database. However, that is not necessarily a bearish signal, as the overall trend for 2023 is still upward. Plus, the recent batch of Bitcoin exchange-traded fund (ETF) applications from the likes of BlackRock, VanEck, WisdomTree and Fi...