New York beat Silicon Valley and Miami in 2021 as crypto capital of the US with the most startup funds raised
New YorkCity won the title of cryptocurrency capital of the US in 2021.
- The Big Apple attracted $6.5 billion in
cryptostartup funding last year, 46% of the total raised, according to CB Insights.
- New York beat Silicon Valley and Miami, the latter of which has been pushing hard to attract crypto enthusiasts.
New York City took the crown as cryptocurrency capital of the US in 2021.
The city attracted $6.5 billion in crypto startup funding last year, 46% of all US fundraising in the space, according to CB Insights.
New York beat Silicon Valley, which remains the top city overall for venture capital funding and ranks second for blockchain funding. It also surpassed Los Angeles and Miami, which are both tied for third with $760 million raised in 2021.
New York City Mayor
The US saw a total of $14.1 billion in crypto-related funding raised in 2021.
Notably, Coinbase Ventures, the venture capital arm of the largest US crypto exchange, funded 68 blockchain startups in 2021. Its portfolio companies spanned crypto exchanges (FTX), institutional services (Amber Group), and DeFi wallets (ConsenSys). China-based AU21 and Andreessen Horowitz were other top investors.
Worldwide, blockchain funding surged 713% year on year to reach $25 billion last year. Over 1,247 deals were closed, more than doubling 2020's total of 662, CB Insights data showed.
"79% of deals were early stage, signaling a nascent market of developing companies — and an even healthier funding environment in 2022 as startups mature and find product-market fit," the CB Insights report said.
- 15 OTT releases to watch this festive season starring Madhuri Dixit, Hasan Minhaj and more
- "Naya Jammu & Kashmir" celebrates a rejuvenated global sericulture industry
- Credit Suisse is in trouble, but this is not 2008 – investors remain wary of the ‘all is well’ soundbites
- Railways increased the speed of 500 mail express trains by 10-70 minutes
- Retail auto sales grow 11% in September, but still below pre-Covid levels, says FADA