Funding Declines as Q3 Approaches

Crypto funding dropped sharply this week, falling to $129 million from $373 million. To no surprise, Infrastructure deals once again garnered the largest amount of funding, equating to $78 million. Web3 & NFTs were the second largest category by funding ($35 million) and tied Infrastructure with the highest deal count (7). The average deal size across all categories was $8.1 million - a considerable decline from last week’s $25 million average.

Despite the large decrease in funding and average deal size, the total number of deals rose to 17 compared to last week’s 15. Over 82% of t...