Blockchain Doubles Down, Ant Exits, As Web3 Funding Continues Decline


Editor’s note: For more Web3 coverage, visit Crunchbase’s Web3 Tracker, where we track startups, investors and funding news in the Web3, cryptocurrency and blockchain space, powered by Crunchbase’s live, comprehensive data.

The crypto and blockchain news from Monday pretty much encapsulate the industry of late — one step forward, then a quick shuffle back.

San Francisco-based Blockchain Capital — whose portfolio includes Coinbase, Kraken and Circle — announced the closing of two new funds — its sixth early-stage fund and first opportunity fund — totaling $580 million.

That news opposed a Bloomberg report that Chinese fintech giant Ant Group was planning to pull out of its A&T Capital $100 million fund as the digital asset market remains turbulent at best. The early- to growth-stage venture fund is an investor in such startups as digital assets platform Matrixport and digital asset custodian Cobo.

Those two contradictory moves from noteworthy names come as venture funding to startups in crypto and blockchain — or Web3 — has plummeted to its…

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