10 Biggest Crypto Funding Rounds of 2022

After a hot start, 2022 has proven to be a challenging year for the crypto industry, with May collapse belong to terroir triggering what analysts have deemed the latest Crypto Winter.

VC firms closed their wallets when the cold weather started. According to data from Crunchbase, global funding for VC-backed crypto startups fell from $8.8 billion in the first quarter of 2022 to $6.2 billion in the second quarter. about $3.4 billion in the third quarter .

With just a few days left, crypto startups raised only about $2.4 million in the fourth quarter.

Despite the steady decline, some companies still managed to raise extraordinary rounds, though almost exclusively in the first half of the year. Here’s a look back at the biggest crypto funding rounds of 2022:

1. Yuga Lab: $450 million

The company behind the famous Bored Ape Yacht Club announced a $450 million round in March led by Andreessen Horowitz. Although this round valued the company at $4 billion, the NFT market was dry upand Yuga Labs are said to belong to investigation by the Securities and Exchange Commission for the sale of unregistered securities.

2. ConsenSys: $450 million

Led by Ethereum co-founder Joe Lubin, ConsenSys builds software focused on the Ethereum ecosystem, including the DeFi MetaMask wallet, which has over 30 million monthly active users. In March, ConsenSys announced a $450 million Series D led by ParaFi Capital valuing the company at $7 billion. Since then, the company has come under fire for privacy concerns surrounding its software suite, though Lubin says it is solve basic problems.

3. Polygon: 450 million USD

Polygon is a Layer 2 blockchain platform built on top of Ethereum, with the goal of helping to expand the ecosystem for applications ranging from games to DeFi. February, company announced $450 million funding led by Sequoia Capital, with Tiger Global and SoftBank also participating. At the time, Polygon’s proprietary token, MATIC, had a market cap of $13 billion, although that number has since fallen below $7 billion.

4. Circle: 400 million USD

Circle is the issuer of USDC, the second largest stablecoin after Tether. In April, it announced a $400 million funding round with investments from traditional financial players including Black stones and Loyalty. The company also planned to go public through the SPAC merger at a $9 billion valuation, but the deal falling in December amid SEC uncertainty approval.

5. FTX US: 400 million USD

FTX US, a branch of the FTX exchange, lift up a $400 million Series A round in January at an $8 billion valuation. If you’re reading this, you probably don’t need to remember that this is a poor investment for participating funds, including Paradigm, Temasek, Multicoin Capital and Softbank.

6. FTX: 400 million USD

Don’t miss the fun, foreign FTX exchange also lift up $400 million in January—this is Series C with the same group of backers valuing the company at $32 billion. The funding round comes just a few months after the FTX scandal.”round meme,” having raised $420,690,000 in October 2021 from 69 investors. (Hopefully the joke doesn’t have to be spelled out.) As reported by Sam Bankman-Fried take $300 million of that after he sold his personal shares.

7. Animoca brand: $358.8 million

With the crypto market still growing, Hong Kong-based software and venture firm lift up a Series A round of $358.8 million in January led by Liberty City Ventures at a $5 billion valuation. The focus of the company is on GameFi—which has become a euphemism for “play for money” games—an area that has fallen out of favor with argumentative around Axie Infinity.

8. NEAR Protocol: $350 million

NEAR is a blockchain that positions itself as a competitor to Ethereum, providing a platform for developers to build decentralized applications. After launching in October 2020, it raised a significant amount of capital, including a round 350 million USD in April 2022 led by Tiger Global, three months after fundraising round 150 million dollars in January. After its cryptocurrency hit a market cap of more than $12.5 billion in April, it fell to almost $1 billion.

9. Amber Group: $300 million

Amber Group, a cryptocurrency exchange, raised the only round on this list in the fourth quarter—a Series C worth $300 million in December led by Fenbushi Capital US. The announcement did not come as good news. Instead, it could serve as a lifesaver, with Bloomberg Report that the Singapore-based company has abandoned its sponsorship deal with Chelsea FC and laid off 40% of its staff. Amber Corporation has also been exposed to FTX.

10. Mysten Lab: $300 million

In 10th place—the only deal in the third quarter of this list—is Mysten Labs closing one Series B worth $300 million in September led by FTX Ventures and valued the company at $2 billion. Mysten is the creator of Sui, a class 1 proof-of-stake blockchain led by a former Meta employee that has yet to launch.

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