Crypto Investment Continues Slide And ‘Has Not Yet Found a Clear Bottom’: Report

According to a report by Galaxy Research, venture capital firms are becoming less interested in the crypto space, with investments in crypto and blockchain firms declining to $2.3 billion in the second quarter of this year, compared to over $8 billion in the same period last year. The challenging business environment and higher interest rates have contributed to this decline, with the sum of venture capital invested in crypto firms decreasing for the fifth consecutive quarter. However, the number of deals increased slightly, with a focus on privacy and security products, trading, exchanges, investing, lending, Web3, NFTs, gaming, DAOs, and the metaverse.