Institutional Participation In the Crypto Industry Grows Despite Market Decline
Despite the significant decline of Bitcoin and the onset of the crypto winter predicted by market analysts, institutional investors continue to pour money into the industry, and their number keeps growing.
For example, Fireblocks crypto custodian was able to raise $550 million in the E investment round, and the company itself was valued by investors at $8 billion. The funds will be used to expand the company’s staff, introduce new decentralized services and increase the client base.
Animoca Brands, a promising NFT game development company, received an investment of $358,888,888. This money will be used to develop the company, as well as to introduce intellectual property licensing, which is very relevant for the NFT sector.