Crypto start-ups are still raising serious cash despite a slump in prices

• 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.