Cryptocurrencies
Crypto Startups Bring In Billions Even With Lofty Valuations, For Now
- Startups doubled first-quarter haul to almost $5 billion
- Investors ‘getting more disciplined,’ Multicoin’s Reed says
Bored Ape Yacht Club
Photographer: Tiffany Hagler-Geard/BloombergThis article is for subscribers only.
Investors drawn to cryptocurrency startups are doing a lot of double-takes these days.
The industry continues to draw venture capital even amid broad market angst, luring roughly $5 billion in the first quarter, double the year-earlier period, according to data compiled by PitchBook Data Inc. But ever-lofty valuations of new companies, some less than a year old, are giving some potential backers pause.