Investment in Web3 and crypto startups in Latin America fell 83% from the previous year to just $1.1 billion

In Latin America in 2023, Web3 and crypto startups face financing challenges, with funding for Latin American startups decreasing by 83% compared to the previous year, with investment totaling only $1.1 billion. Similarly, venture capital funding for global cryptocurrency companies decreased significantly in the first quarter of 2023, plummeting 80% compared to the previous year, with investment dropping from $12.3 billion in 2022 to $2.4 billion in 2023.
A survey by Goldman Sachs showed that only 12% of family offices expressed potential interest in cryptocurrency in the future, down from 45%. The extreme volatility of the cryptocurrency market over the past year seems to have cooled their interest, with 62% of people saying they have not invested and are not interested in future cryptocurrencies, a proportion higher than 39%.