coingabbar.com
European crypto startups to see record-breaking VC investment of $5.7 billion in 2022, despite challenging market conditions in the crypto space. According to a study by European investment firm RockawayX, DeFi startups in Europe received $1.2 billion, a 120% increase over the previous year.
The CEO of RockawayX noted that startup funding activity stagnated in the winter of 2018 when the digital asset market cap plunged by 80%. Although Europe has the largest number of crypto startups, it lags behind the US in terms of the number of startups backed by VC investment. The anticipated release of the EU's MICA regulation in April 2023 highlights the growing prominence of Europe as a crypto-friendly region.