Even while the Chairman of the SEC pounds the enforcement drums on digital assets and the firms that trade, them venture capital funding in these firms continue to be robust.
According to recent data from Pitchbook, 2021 was a blowout year as capital flowed into innovative crypto firms.
In 2021 the top crypto hubs for investment were (in Millions):
- San Francisco – Bay Area 201 deals – $7.4 billion
- New York City Region – 140 deals – $4.74 billion
- Los Angeles Region – 71 deals – $802 million
- Miami – Ft. Lauderdale Region – 23 deals – $746 million
- Albany – Schenectady NY – 3 deals – $633 million
For the first three months of 2022, the money has continued to flow largely topping all of 2020.
- San Francisco – Bay Area 58 deals – $2.36 billion
- New York City Region – 45 deals – $1.28 billion
- Los Angeles Region – 23 deals – $671 million
- Albany – Schenectady NY – 1 deal – $550 million
- Washington – Baltimore Region – 4 deals – $479 million
It must be pointed out that 3 months do not make a full year and Albany – Schenectady has apparently benefited from a few very large VC investments.
It is interesting to point out that in 2020, the Miami area was home to just 6 deals for $6.3 million. So Miami, an emerging Fintech and Blockchain hub, pretty much went hyperbolic in 2022.
| Top CSAs by VC Cryptocurrency deal value | |
CSA |
Crytocurrency Deal Value (Millions, USD) |
San Jose-San Francisco-Oakland, CA |
$12,732.6 |
New York-Newark, NY-NJ-CT-PA |
$6,954.1 |
Los Angeles-Long Beach, CA |
$1,632.5 |
Albany-Schenectady, NY |
$1,228.4 |
Miami-Port St. Lucie-Fort Lauderdale, FL |
$837.8 |
Boston-Worcester-Providence, MA-RI-NH-CT |
$713.9 |
Washington-Baltimore-Arlington, DC-MD-VA-WV-PA |
$541.9 |
Chicago-Naperville, IL-IN-WI |
$459.0 |
Seattle-Tacoma, WA |
$455.1 |
Reno-Carson City-Fernley, NV |
$421.0 |
| *As of 3/30/2022 |