The crypto industry in Europe defied the bearish trends of 2022 and saw a record level of funding. Startups in the crypto space raised over $5.7 billion in 2022 while global and U.S. venture funding in the industry contracted. This is a notable increase from the $5 billion E.U. companies raised in 2021.
According to data from RockawayX and Dealroom, Europe has the largest number of startups working on blockchain and crypto solutions — surpassing both the U.S. and Asia. The majority of them are early-stage, small-to-mid-sized companies with modest funding. Further along the startup funding journey, the U.S. leads the way as it has the largest number of unicorns.
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