The Crypto Market Is Slumping, But Massive Crypto VC Deals Keep On Coming
— Investors, Million, Tech, Massive, Vc, Deals, Coming, Private, Billion, Slumping, Startup, Capital, Crypto, Market, Valuation — 1 min read
Bitcoin is down more than 70% from last year’s highs. Investors are still pumping huge sums of cash into crypto startups, confident that the past few months are just the latest downturn in a years-long cycle of booms and busts. FalconX raised $150 million in Series D funding this week, resulting in an $8 billion valuation. Prime Trust, a provider of various crypto custody and infrastructure services, hauled in $107 million for its Series B round. Magic Eden is now the third NFT marketplace to be valued at more than $1 billion, joining OpenSea and LooksRare. Source