NEW DELHI: Crypto startups have raised $2.1 billion this year to date globally, or nearly 80 per cent less than last year, a report showed on Monday.

After raising more than $20 billion in funding rounds in 2021 and 2022, crypto startups find it difficult to get fresh capital these days, according to data presented by AltIndex.com.

Although the entire market significantly recovered from the 2022 crypto winter, investors’ interest in crypto startups remains low. “So far, 2023 has been a challenging year for crypto fundraising as investors continue pulling back, fearing risks from regulatory twists and an uncertain economy,” the report said.

According to Crunchbase data, crypto startups raised $1.1 billion in 2019. year later, this figure jumped to almost $1.7 billion. Still, that was nothing compared to investment growth in 2021, when the entire crypto market exploded. That year alone, crypto startups raised $11.1 billion in funding rounds, or six times more than a year before. Statistics show 2022 saw just as impressive $10.1 billion worth of investments, pushing a two-year total funding amount to over $20 billion.