Crypto venture funding, which saw a record Q1 in 2022, witnessed the deal pace of Coinbase Ventures slowdown in the second quarter, with the total count decreasing 34 percent, from 71 to 47. Coinbase Ventures is the venture capital arm of crypto exchange Coinbase.
According to data released by The Block, venture funding in the blockchain sector declined 22 percent, from $12.5 billion to $9.8 billion. Before this decrease, investment had increased for seven consecutive quarters.
A quarterly investment report released by Coinbase Ventures shows that despite the slowdown compared to the fervent pace of late CY21 and Q122, Q2 activity still increased 68 percent YoY, indicating overall growth in its venture practice.