Crypto fundraising sets new record of $3.5B in a single week

Crypto fundraising achieved a historic milestone last week, raising $3.5 billion across 28 funding rounds between October 6 and 12, surpassing previous records. This significant increase followed seven weeks of fundraising below $1 billion, signaling a resurgence of investor confidence in the crypto market. The previous record was nearly $3 billion raised in early August. Blockchain services emerged as the leading sector in these funding activities, accounting for 12 of the 28 rounds, with centralized finance (CeFi) projects securing six rounds. Notably, Pantera Capital was the most active investor during this week, participating in four deals. The surge in fundraising coincided with Bitcoin reaching an all-time high of $126,000 on October 6, but this was quickly followed by a major market crash triggered by regulatory news that saw BTC drop sharply to $105,000 by the end of the week, reflecting the volatility of the crypto landscape.

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