Venture capital exec says ‘lack of innovation’ drives funding away from crypto By Cointelegraph

Compared to 2022, where the first and second quarters of the year saw a combined $20.3 billion flow into the space through venture capital funding, 2023 has been significantly lacking.

Venture capital funding for the crypto space has significantly declined this year. In the first quarter of the year, around $2.6 billion worth of crypto VC deals were made. In Q2, the space saw around $2.1 billion across 292 funding rounds, which is one of the worst performances in terms of crypto fundraising.