The amounts of money flowing into the crypto ecosystem are becoming really impressive.
This year crypto firms raised over $20Bn through venture capital alone, shared between payment and trading companies, crypto games, NFT-focused projects, green mining… and it doesn’t look like this is going to stop. What’s more, the ticket size is growing too.
In July crypto derivatives exchange FTX raised $900M, and then $420M more in October.
In November venture capital firm Digital Currency Group (also the owner of Grayscale crypto fund, Genesis trading platform and Coindesk news website) raised $700M.
Yesterday the New-York-based company NYDIG set another record, announcing a jaw-dropping $1Bn funding round.
NYDIG provides brokerage, custody and asset management services to the institutional investors (it has, among others, facilitated MassMutual’s acquisition of $100M in Bitcoin and US Bank’s launch of the crypto custody service).
With its motto “Bitcoin for all”, NYDIG had already raised $300M earlier this year, but apparently there’s big room to grow for a company bridging the worlds of crypto and traditional finance. $1Bn big.