The cryptocurrency ecosystem has passed a major milestone, with total funding surpassing $100 billion. This figure highlights the enormous investment that has been invested in the sector since its inception. Since 2014, crypto projects have raised an impressive $101.36 billion in 5,287 funding rounds. A significant increase was seen in November 2021, when $7.079 billion was raised, coinciding with a bull run in the crypto market.
However, since this peak, funding has declined dramatically, with some notable peaks of $3.6 billion and $3 billion in March and May 2022, respectively. The largest funding event in the crypto space was for EOS, a blockchain platform for decentralized applications, which raised a record $4.2 billion in an initial coin offering (ICO) on June 1 2018
Interestingly, three more funding rounds have raised $1 billion each. One of them involved Luna Foundation Guard (LFG), which raised $1 billion on February 23, 2022 through a strategic private sale. This funding aimed to support the TerraUSD (UST) stablecoin, with the participation of prominent investors such as 3AC, Jump Crypto, Tribe Capital and GSR.
Bitcoin technology and financial services company NYDIG also raised $1 billion on December 14, 2021. This private equity round saw investment from WestCap, FinTech Collective, Bessemer Venture Partners, New York Life Insurance and Affirm Another major player is Figure, a company that uses blockchain for financial services. On May 10, 2019, Figure raised $1 billion through debt financing, with investors including Jefferies and WSFS Bank.
The highest monthly funding this year was in March, with $1.019 billion raised, matching Bitcoin's new all-time high of over $73,000. Last week, 34 crypto entities raised over $109 million. However, monthly funding has been trending down since the March peak, mirroring the broader downtrend in the market.
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