- Crypto exchange FTX and its U.S. affiliate raised a combined $800 million in January, while digital asset infrastructure firms Fireblocks and Blockdaemon bagged $550 million and $155 million, respectively.
- It follows a blockbuster year for crypto start-ups, which raised a record $25 billion in 2021, according to CB Insights data.
- Still, a pullback in crypto prices has got some investors worried about a more severe downturn known as “crypto winter.”
Cryptocurrency start-ups are having a solid start to the year, bagging hundreds of millions of dollars in fresh cash even as investors grow wary about a steep drop in digital asset prices.
Several privately-held firms announced bumper cash injections in January. Crypto exchange FTX and its U.S. affiliate raised a combined $800 million, valuing the companies at $32 billion and $8 billion respectively.
Fireblocks, a crypto infrastructure start-up, was valued at $8 billion in a $550 million round, while rival Blockdaemon scored $155 million on a $1.3 billion valuation. It’s worth noting some negotiations for these deals likely began late last year.