STATE OF CRYPTO FUNDRAISING - Q3 2023

Summary from the TLDR Crypto newsletter

Fundraising activity for crypto companies in Q3 2023 hit levels unseen since Q4 2020, with total quarterly funding clocking in at just under $2.1 billion across 297 deals. Funding trends showed a pivot to early-stage projects, indicating investors' strategy to back projects with high upside potential in the bear market. The prevalence of strategic investments suggests that harsh conditions have forced projects to seek short-term funding or look to be acquired.