Share this article
Crypto Venture Capital Fundraising Jumped Over 50% in March Amid Rally
Most capital went into infrastructure and decentralized finance (DeFi) projects, data by RootData shows.
Updated Apr 2, 2024, 6:45 p.m. Published Apr 2, 2024, 6:42 p.m.
Make us preferred on Google
- Venture capitalists invested over 52% into crypto projects in March versus prior month.
- Crypto projects, specifically in the United States, received more than $1.16 billion last month, the second-highest amount in the past 12 months.
- The majority of capital went into projects related to crypto infrastructure and decentralized finance (DeFi).
Venture capitalists increased their investments into crypto projects by over 52% in March, spurred by a new all-time high for bitcoin and continued success from the spot bitcoin exchange-traded funds (ETFs).
Investors allocated more than $1.16 billion into the industry in March, the second-highest amount in the past 12 months, according to data released by RootData.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The majority of the capital went into projects working on crypto infrastructure and decentralized finance (DeFi) projects, especially those built on the Ethereum blockchain, the data shows. Other popular blockchains included Polygon and BNB Chain.
The surge in fundraising comes as bitcoin reached a new all-time high of $73,798 on March 14, which experts say was accelerated by the better-than-expected inflows into the newly launched spot bitcoin ETFs.
The ten ETFs, which include issuers like BlackRock and Fidelity, spurred renewed faith in the industry as TradFi leaders once again voiced their interest in digital assets.
More than half of the investments in March were between $1 million and $5 million and were used as seed capital, while allocations of over $20 million made up roughly 10% of all investments.
Roughly a third of the capital was allocated to projects located in the United States, according to RootData.
Read more: Crypto Venture Capital Firm Paradigm Looking to Raise Up to $850M for New Fund: Bloomberg
More For You
Specialized AI detects 92% of real-world DeFi exploits
New research claims specialized AI dramatically outperforms general-purpose models at detecting exploited DeFi vulnerabilities.
What to know:
- A purpose-built AI security agent detected vulnerabilities in 92% of 90 exploited DeFi contracts ($96.8 million in exploit value), compared with 34% and $7.5 million for a baseline GPT-5.1-based coding agent running on the same underlying model.
- The gap came from domain-specific security methodology layered on top of the model, not differences in core AI capability, according to the report.
- The findings come as prior research from Anthropic and OpenAI shows AI agents can execute end-to-end smart contract exploits at low cost, accelerating concerns that offensive AI capabilities are scaling faster than defensive adoption.
Top Stories
