Bloomberg: After a slump in trading volume, crypto giants' funds have made a comeback

ChainCatcher news, according to Bloomberg, during the last cryptocurrency bull market, a handful of investment firms raised massive digital asset funds worth at least $1 billion, sparking optimism and hype around blockchain.

However, the downturn in cryptocurrency has posed significant challenges for these investors, as the industry's market value has evaporated by trillions of dollars amid the chaos. Venture capitalists have drastically tightened their investments, with funding for cryptocurrency startups dropping to $9.5 billion last year, less than a third of 2022's total.

Now, with Bitcoin prices hitting all-time highs and new funding deals for startups signaling a recovery in the cryptocurrency industry, Andreessen Horowitz, Haun Ventures, Electric Capital, and Hivemind Capital Partners are still fully invested in cryptocurrency. Paradigm faced backlash last year for removing cryptocurrency content due to a temporary website update, but it is reportedly raising a new fund, and the company declined to comment for this article.