Overview

• Venture capital investment in crypto rose to $3.2 billion in Q2, up from $2.5 billion in Q1.
• Median pre-money valuations surged to near all-time highs of $37 million.
• Early-stage companies received 78% of the capital, while later-stage firms struggled to secure funding.
• The correlation between Bitcoin prices and venture capital investments has broken down.
• Regulatory challenges in the U.S. may push more crypto companies abroad.