In July, the number of active cryptocurrency venture capital firms dropped to 150, hitting a new low since 2020

According to The Defiant, CryptoRank data shows that only 150 venture capital firms participated in cryptocurrency project financing in July, the lowest monthly number since November 2020, a decrease of about 87% from the peak of 1177 in May 2022. About 651 institutions participated in cryptocurrency financing in Q2, a decrease of about 75% compared to 2564 institutions in Q2 2022. Dragonfly completed its fourth fund worth $650 million in February of this year.