WATCH: 👇 Here are the week's big stories in the world of virtual money
FILE PHOTO: A stock graph is seen with a representation of bitcoin in this picture illustration taken taken March 13, 2020. REUTERS/Dado Ruvic/
“The current market conditions - I don’t think they faze investors,” said Roderik van der Graf, founder of Hong Kong investment firm Lemniscap, which focuses on crypto and blockchain. “The capital available is massive.” Companies have shuddered as prices fall, with major U.S. exchange Coinbase Global and NFT platform OpenSea among those to lay off hundreds of workers.
The numbers contrast with general VC activity in United States, where deals fell to $144.2 billion in the first half from $158.2 billion in the same period last year as macro conditions and market turmoil chill investment. Adoption of crypto as an investment tool mushroomed last year, with the use of blockchain also gaining ground - even if the revolutionary changes from the technology promised to industries such as finance and commodities remain elusive.
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