The number of deals and amount invested by venture firms into Web3 and crypto startups was a little over $30 billion in 2022, according to Galaxy Research. Head of Firmwide Research, Alex Thorn, described it as a “monster year” that was only just eclipsed by the $31 billion in VC investments in 2021. However, in a Jan. 5 report, Thorn stated that macroeconomic and crypto market conditions led to significant investment drawdowns in Q3 and Q4. This will likely continue into 2023 until macro and crypto market conditions improve. (Cointelegraph)
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