Crypto industry got more funding in Q1 2021 than all of last year: report

Crypto industry got more funding in Q1 2021 than all of last year: report


Cryptocurrency and blockchain-related companies have already received more funding this year than in all of 2020, according to a new report.

In the first quarter of 2021, 129 startups focusing on crypto and blockchain technology have received a total of $2.6 billion in funding, Bloomberg reports, citing data from business analytics firm CB Insights. Over the course of 2020, crypto and blockchain firms attracted a total of $2.3 billion in 341 deals.

According to the data, 2018 is the record year in terms of funding secured in the crypto industry, with total funding amounting to $3.3 billion.

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Venture-capital funding in blockchain startups. Source: Bloomberg-CB Insights

According to CB Insights, the increased funding in 2021 was driven by several big rounds for firms including American crypto lending startup BlockFi, Canadian blockchain-based game maker Dapper Labs, and United Kingdom-based crypto wallet provider Blockchain.com. 

These three companies alone have raised nearly $1.1 billion this year, with BlockFi completing a $350 million funding round in March.

After raising $120

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