Crypto Startups Raise $1.3 Billion in Funding After Trump’s Election
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The crypto industry has experienced a surge in investment, with startups raising over $1 billion from Venture Capital (VC) funds since Donald Trump’s election victory. This influx of capital reflects growing optimism about a more favorable regulatory environment under the incoming administration. Crypto Startups Attract Over $1 Billion in Funding Since Trump’s election victory on November 6, crypto startups have attracted approximately $1.3 billion in funding. DefiLlama data shows that VCs contributed $796 million in November and an additional $511 million in December. The Avalanche Foundation emerged as the largest fundraiser during this period, securing $250 million through a private token sale. This funding aligns with the network’s upcoming Avalanche9000 upgrade, scheduled for December 16, which promises to enhance blockchain scalability and reduce costs. Crypto VC Funds Raise. Source: DeFiLlama Venture capitalists have significantly increased their interest in crypto infrastructure projects. They directed over $500 million toward infrastructure developers, with Zero Gravity Labs raising $40 million and Bitcoin miner Canaan Creative securing $30 million in notable funding rounds. Meanwhile, the DeFi sector also saw a boost, receiving more than $150 million in funding. Key investments included $45 million for USDX Money and $30 million for World Liberty Financial. This resurgence follows a recovery in the DeFi market, with the sector now attracting interest from both retail and institutional investors. The funding spike is linked to anticipation of a pro-crypto stance in the upcoming administration. Trump has expressed strong support for the crypto industry, pledging to bring long-awaited regulatory clarity and establish a Strategic Bitcoin Reserve (SBR) in the United States. Since his election win, Trump has announced several pro-crypto appointments. These include Paul Atkins as the proposed chair of the Securities and Exchange Commission (SEC) and David Sachs as the White House’s first crypto czar. Experts believe these appointments could…
Filed under: News - @ December 15, 2024 10:21 am