Crypto venture capital dries up as investors flee after FTX turmoil

By Charlie Conchie Investment into cryptocurrency startups collapsed at the end of 2022 as the market was shaken by the implosion of Sam Bankman-Fried’s exchange FTX and a string of high-profile bankruptcies, new research has revealed. The flow of cash into crypto start-ups fell to $2.5bn in the final three months of 2022 – down 75 per cent on the previous quarter, according to research from investment research firm Pitchbook. The figures show the scale of the slump in confidence in the sector after VC firms invested $11bn into crypto in the first three months of 2022 at the peak of the frenzy…