HASHKEY GROUP TOPS JANUARY CRYPTO VC FUNDRAISING 

HashKey Group emerges as the frontrunner among January’s top fundraisers in the crypto venture capital scene, leading a wave of investment projects that saw a total funding of $650 million.

A report by Wu Blockchain, utilizing statistics from RootData, highlights a significant surge in investment projects in January. With 113 publicly disclosed projects, marking a 10.8% increase from December 2023 and a steady 1.8% rise year-on-year from January 2023, the crypto VC landscape is showing resilience and growth.

Among the various sectors, infrastructure projects secured about 12% of the funding, with DeFi and NFT/GameFi each comprising around 19% and 12% respectively, mirroring trends observed in the previous year. CeFi and L1/L2 solutions also made notable contributions, capturing approximately 6% and 4% of the funding proportion.

Despite a month-on-month decrease of 28.6%, the total fundraising amount for January remains substantial at $650 million, indicating sustained investor interest and confidence in the crypto venture space. HashKey Group leads the fundraising efforts, securing nearly $100 million in its Series A round, with a pre-money valuation exceeding $1.2 billion.

Following closely is Core Scientific, a leading Bitcoin mining company, which successfully closed a $55 million equity offering that was oversubscribed. French cryptocurrency market maker Flowdesk secured $50 million in its Series B funding round, with backing from notable investors like Cathay Innovation, Ripple, and Bpifrance.

Sygnum, a cryptocurrency bank, also made headlines by securing over $40 million in strategic financing, solidifying its position as a key player in the financial landscape.

RootData’s research sheds light on the overall funding landscape for Web3 in 2023, amounting to $9.043 billion. Different sectors experienced varying levels of success, with enterprise infrastructure and digital wallets attracting significant investment. Despite fluctuations, opportunities within the Bitcoin ecosystem continued to draw investor interest.

The surge in developer numbers, particularly within the Ethereum ecosystem, indicates continued momentum. DeFi, Layer 1/Layer 2 solutions, and GameFi remain popular, while compliance and social sectors gain traction in the evolving crypto landscape.

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