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American multinational investment firm Morgan Stanley says that crypto companies raised $30 billion of venture capital in 2021 with 1,800 deals, but numbers are set to drop.
Source: Coindesk
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The bank adds that there was likely to be a decline as the activity in eight VC markets has retraced to 50% from their peak.
Morgan Stanley reported that the number of VC cryptocurrency investments reached the highest in December due to huge dollar liquidity and elevated crypto prices in the second half of last year.
The investment bank observed that at the start of 2020, most cryptocurrency investments were in the infrastructure and financial services; around 2021, it shifted to DeFi, and now to non-fungible tokens and gaming.
DeFi refers to lending and borrowing activities, among other financial activities completed through a blockchain with no intermediaries. NFTs are digital assets based on a blockchain for virtual and physical item ownership.
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