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- Blockchain start-ups raised a record $4.38 billion in the second quarter, according to data from analytics firm CB Insights.
- It highlights how investors are finding alternative ways to gain exposure to the nascent crypto market.
- Funding for fintech companies as a whole also hit a new record, with an eye-watering $30.8 billion flowing into the sector.
Funding for blockchain start-ups topped $4 billion for the first time in the second quarter, despite a sharp slump in cryptocurrency prices.
Companies in the nascent industry raised a record $4.38 billion, according to data from analytics firm CB Insights, up more than 50% from the previous quarter and a nearly ninefold increase from the same period a year earlier.
Blockchain is the underlying technology behind most cryptocurrencies. It's essentially a digital ledger of virtual currency transactions which is distributed across a global network of computers.
The largest financing round for a blockchain company in the second quarter was a $440 million investment in Circle, a payments and digital currency firm. Circle recently announced plans to go public through a $4.5 …
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