Blockchain start-ups raised a record $4.4bn in the quarter

July 22, 2021

Blockchain start-ups raised a record $4.4bn in the quarter
The amount invested in the sector is up markedly from the start of the year, despite the decline in digital currencies in recent months.

Blockchain startups raised $4.38bn in funding in the second quarter of 2021, according to analyst firm CB Insights. That's a 30% increase over the first quarter. The amount of funding in the second quarter of 2021 was an all-time high.

Circle, the issuer of the USDC stablecoin (a digital coin pegged to the dollar), raised the most. The startup received $440 million from investors and also announced plans to go public via a merger with NYSE-traded SPAC company Concord Acquisition Corp.

In second place was hardware cryptocurrency wallet maker Ledger, which has raised $380 million in investment. According to Ledger CEO Pascal Gauthier, all institutional investors are now working on a plan to invest in cryptocurrency.

"Despite short-term price volatility, VCs remain optimistic about the future of cryptocurrency as a major asset class and the potential of blockchain to improve the efficiency, accessibility and security of financial markets," explained CB Insights senior analyst Chris Bendzen.

In early July, it became known that Latin America fund of Japanese conglomerate SoftBank invested $200 million in the parent company of Mercado Bitcoin, one of the largest cryptocurrency exchanges in South America. The company is valued at $2.1bn at the end of the new round of investment, making it the eighth largest unicorn in the region.

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About the author

Hi there, my name is Zalman Weinberg. I'm enthusiast with over 7 years of experience in cryptocurrencies and blockchain. Professional Trader providing Blockchain solutions to Startups and Enterprises. Expert in all cryptocurrency exchange APIs (BitMEX, Bittrex, Binance, Bitfinex, Kraken, Poloniex, Gdax etc.). I have also worked with multiple Forex broker APIs.

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