VCs Pour Billions Into Crypto Despite US War: Biggest Deals of 2023

19. April 2023 Aus Von admin

• VCs have invested billions in the crypto and Web3 sector despite a bear market, regulatory uncertainty, and an US war on crypto.
• LayerZero raised $120 million from a16z and Sequoia Capital for its creation of cross-chain dApps.
• Scroll ZKP also secured $50 million in funding at a $1.8 billion valuation with investors.

Billions Invested by VCs Despite US War on Crypto

Venture capital firms have poured billions into the crypto and Web3 sector this year despite an environment of regulatory uncertainty, America’s war on crypto, and a bear market. On April 18, the DeFi investor highlighted some of the biggest fundraises so far in 2023, noting that venture capital investment usually slows down during bear markets but that several large investments have been made this year regardless.

LayerZero Raises $120 Million

LayerZero raised $120 million this year from a16z and Sequoia Capital, among others. The protocol facilitates the creation of cross-chain dApps that are interoperable across all major chains and has been valued at around $3 billion following its Series A fundraise in March 2022.

Scroll ZKP Secures $50 Million

Scroll ZKP also secured $50 million in funding at a $1.8 billion valuation with investors such as Three Arrows Capital and Alameda Research, who collapsed amid the crisis but “crisis means opportunity” as per the analyst’s observation.

Other Projects Fundraised Billions

Other projects such as Uniswap ($100M), Verity ($60M), Avalanche ($42M) were also able to secure substantial amounts of funding this year showing how VCs believe strongly in these projects despite a difficult investing climate right now due to the pandemic affecting many businesses worldwide.

Conclusion

>It is clear that despite an uncertain regulatory landscape alongside America’s war on crypto, Venture Capital firms have not shied away from investing large sums into promising projects within this space which shows just how much potential these projects still have even during tough times like these