<\/p>\n
Venture capital funds invested $1.75B in crypto firms this month, more than doubling October\u2019s total. Two Bitcoin mining companies account for over half the funding. <\/p>\n
November was a markedly bullish month for crypto fundraising, with 98 deals inked worth a combined $1.75B \u2013 a $1B jump compared to October.<\/p>\n
More than half of the money raised went to two relatively unknown Bitcoin mining companies, according to a recent report<\/a> by Messari. Northern Data (a firm that also does business outside of crypto) and Phoenix Group raised $600M and $370M, respectively.<\/p>\n Blockchain.com landed in third place, having raised $110 million in a Series E. The top 10 was rounded out by the controversial Layer 2 project, Blast<\/a>, which recently announced a $20 million round led by Paradigm. In the five days post-launch, the protocol had attracted $500 million in TVL, although according to DefiLlama<\/a>, that number sits now at $621 million.<\/p>\n However, excluding the two massive rounds closed by Northern Data and Phoenix Group lands crypto fundraising at around $750M, in line with the average monthly funding since the August bottom. Nevertheless, the average deal size was $7.5M, a 50% spike from last month’s $5M.<\/p>\n Notably, with the Bitcoin halving on the horizon and fears of reduced block subsidies putting a dent in miners\u2019 profitability, this month\u2019s large-scale raises leave space for optimism. The aggressive financing of such companies, wrote Messari researcher Kel, suggests an expectation of higher BTC prices from venture capitalists close to the sector.<\/p>\n Messari reported that miners comprised 90% of the deals in the infrastructure sector, whereas exchanges (like Blockchain.com) and payments projects accounted for roughly 75% of rounds closed in the financial sector.<\/p>\n While the crypto industry has been enjoying a rise in token prices, the rally hasn\u2019t translated into more significant private market flows, wrote Kel. \u201cInvestors are likely in a ramping-up stage, creating more activity that hasn\u2019t yet translated into deals announced.\u201d<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" Venture capital funds invested $1.75B in crypto firms this month, more than doubling October\u2019s total. Two Bitcoin mining companies account for over half the funding. November was a markedly bullish month for crypto fundraising, with 98 deals inked worth a combined $1.75B \u2013 a $1B jump compared to October. More than half of the money […]<\/p>\n","protected":false},"author":2,"featured_media":204220,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-204219","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/204219","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=204219"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/204219\/revisions"}],"predecessor-version":[{"id":204221,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/204219\/revisions\/204221"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/204220"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=204219"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=204219"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=204219"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}