Bloomberg writes that venture investments in crypto startups amounted to $6.76 billion from April to June, a 31% drop compared to the first quarter ($9.85 billion).

The agency cited data from research firm PitchBook.

“The digital asset market started to slow down in November-December and deals were still being discussed. closed in the first quarter Robert Le, fintech analyst at PitchBook, explained the dynamics.

According to the expert, statistics for the second quarter give a more accurate picture of the situation in the industry. There is now more doubt in making deals, he added.

Bloomberg found explanations for this in the collapse of Terra, the serious problems of Celsius and Babel Finance, as well as staff cuts from Coinbase, Gemini, and Crypto.com.

CoinFund managing partner David Pakman said many deals have crashed in recent weeks, with investors often withdrawing buy offers.

“What you’re seeing right now is a ~20% drop in seed quality, ~50% for Series A, ~70% for Series B and beyond.”expert explained.

The expert suggested that the companies supported by his firm accumulate cash. This will be necessary in order to overcome the difficulties in the next two years, because they will not be over “in a month”.

The agency noted that not everyone shares this view. In particular, Multicoin announced that a fund of 430 million dollars has been created.

Recall that Lightspeed has created a special section focused on the blockchain. The company has raised $7.1 billion in four new structures investing in fintech and crypto startups, among other things.

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