Crypto Firms Received $2.6 Billion Funding in Q1 2021

By Aditya Raghunath

Investing.com — The first three months of 2021 have seen a file $2.6 billion pour into 129 crypto and blockchain companies world wide in line with information from intelligence agency CB Insights. This is greater than $2.three billion in funding that was invested in 340 companies in all of 2020.

This determine contains giant rounds of funding in startups like crypto lender BlockFi Inc., game-maker Dapper Labs that’s liable for CryptoKitties and NBA Top Shot, crypto service supplier Blockchain.com.

Dapper Labs acquired $305 million in funding valuing it at $2.6 billion whereas London-based Blockchain.com acquired $300 million in a Series C spherical of funding that valued it at $5.2 billion.

Cryptocurrencies are quick gaining traction internationally, and are even being seen as an alternative choice to as a hedge towards financial downturns. Companies together with Tesla Inc (NASDAQ:) and MicroStrategy Incorporated (NASDAQ:) within the US have invested billions of {dollars} in . Paul Tudor Jones, Grayscale Trust (OTC:), PayPal Holdings Inc (NASDAQ:) Massachusetts Mutual Life Insurance and plenty of others have additionally invested in cryptocurrencies.

In an interview to Mint, WazirX Founder Nischal Shetty mentioned, “Around 1 crore Indians have already invested in cryptocurrency and around Rs 10,000 crore worth of Indian assets are in it…There is an entire ecosystem around cryptocurrency in India.” This illustrates how a lot traction cryptocurrency has gained in India as properly.

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