Most of the fundraising in the cryptocurrency space shifted from the Americas to Europe, the Middle Eastward, and Africa (EMEA), and the Asia Pacific regions (APAC), according to a contempo report by Big Iv auditing firm PwC.

Co-ordinate to PwC's 2nd Global Crypto K&A and Fundraising Report, during 2022, fundraising efforts in the crypto space obtained xviii% less funding, while funds in mergers and acquisitions (Thou&Every bit) in the infinite decreased by 40%.

As funding decreased overall, APAC and EMEA'due south share of the pie got larger. While APAC and EMEA saw 44% of combined fundraising and Yard&A deal value in 2022, that percentage grew to 51% in 2022.

Over the same time period, the Americas' share of combined fundraising and M&A deal value decreased from 55% to 48%.

This shows that the decrease in the number of funds in the crypto space was more than pronounced in the Americas than in other regions.

Fundraising and Chiliad&A value past region, 2022 and 2022. Source: PwC

APAC and EMEA regions to further grow in importance

PwC expects the shift from the Americas to the same regions to continue throughout this yr, stating:

"2019 saw APAC and EMEA play a bigger role in the global crypto M&A and fundraising infinite. We expect to see this trend to go on in 2022. In particular, we expect to see more than activity from APAC and EMEA based family offices looking at the market turbulence as a skillful time to enter the market place."

Overall, PwC states that the cryptocurrency industry continued to mature in 2022 equally funds started moving to later on-stage companies. In 2022, 71% of funds were raised by seed-stage firms while in 2022 seed-stage companies received 59% of full funds.

Crypto business firm fundraising by development stage, 2022 and 2022. Source: PwC

Funding for crypto startups dries up

As the PwC information shows, non only did funding for crypto firms subtract but funds meant for early-stage startups shrunk also. As Cointelegraph reported at the end of 2022, after funding in the space peaked at $5.5 billion in 2022, less that $iii billion flowed into the crypto ecosystem in 2022.

Twitter co-founder and CEO Jack Dorsey — who also founded crypto-friendly payments house Foursquare — recently announced a grants program for open-source Bitcoin (BTC) evolution in an attempt to help improve the ecosystem.