In the first quarter of 2024, crypto startup funding reached $2.4 billion, up 40.3% from the previous quarter. Driven by anticipation of lower interest rates and the introduction of U.S. bitcoin spot exchange-traded funds (ETFs), this surge in funding across 518 deals defied a global venture capital slump. Regulatory approval of bitcoin ETFs by Blackrock and Fidelity propelled bitcoin to a record high of $73,803 in March.
