Cryptocurrency and blockchain companies raised at least $26.4 billion across 992 deals in the first five months of the year, according to data from Dove Metrics, a crypto fundraising database.
The amount was triple the $8.8bn recorded in the same period last year.
The biggest share of global cryptocurrency funding during the period from January to May was taken by infrastructure (34 per cent), followed by centralised finance (26.3 per cent).
Cryptocurrencies have crashed in recent weeks, with Bitcoin losing more than 50 per cent so far this year.
The digital asset fell below $18,000 at the weekend, and was trading below $20,000 on Thursday, making it worth less than a third of its record high of $67,734, which it hit in November.
Companies such as Coinbase, Gemini Trust and Crypto.com have laid off staff amid the recent “crypto winter” — a period in which prices stay low for an extended period of time.
Venture capitalists have also pulled back from cryptocurrencies, despite being...
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