Phoenix from the Ashes: Crypto VC Stages a Comeback with $4.6B Quarter Amid Industry Recovery
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Crypto venture capital is staging a remarkable recovery from the depths of the FTX scandal.
After largely pulling back from the industry following the exchange’s fraudulent collapse in late 2022, VCs poured $4.65 billion into crypto startups in Q3—a 290% quarterly increase and the second-best quarter since the disaster.
“The venture activity remains active and healthy overall,” said Alex Thorn of Galaxy Digital, who compiled the report.
The resurgence was fueled by a handful of mega-deals in companies like Revolut and Kraken, alongside steady investment in foundational sectors like stablecoins and blockchain infrastructure. This rebound suggests growing investor confidence in the crypto ecosystem’s rebuilding phase.
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