80% of crypto startups from '22 still kicking
80% of crypto startups from '22 still kicking
COPA And Unified Patents Launch Project To Fight Patent Trolls, Fidelity Ethereum ETF Sees Record Outflows
According to an October 1 report from Lattice Fund on crypto startup fundraising, more than 80% of early-stage startups that raised in 2022 are still active despite the major firm collapses.
The report states that over 1,200 startups raised a total of $5B in 2022 of which 76% launched a mainnet product. 18.5% are inactive or have been shut down.
EigenLayer did the best, having introduced a multibillion-dollar product by 2023. However, just 1.5% of the startups found a "product market fit" and 12% raised more since.
Lattice's report says that the most successful sectors have been Infrastructure and CeFi, and the highest failure rates are in Gaming and Metaverse.
Regan Bozman, co-founder of Lattice, said on twitter that narrative-chasing can get people rekt.
We have our own early-stage crypto startup database and an associated newsletter.
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COPA and Unified Patents Launch 'Blockchain Zone' To Fight Off Patent Trolls
The Cryptocurrency Open Patent Alliance (COPA) has teamed up with Unified Patents to launch an initiative called the "Blockchain Zone." This collaboration aims to combat the growing threat of patent trolls in the blockchain industry. COPA is a crypto advocacy group dedicated to keeping blockchain tech open. | Read More
Fidelity Ethereum ETF Sees Record $25M Outflow
On October 1, the Fidelity Ethereum Fund (FETH) experienced significant investment outflows, totaling over $25 million. This marked the largest single-day outflow for U.S.-based spot Ether ETFs, excluding the Grayscale Ethereum Trust (ETHE). | Read More
EigenLayer’s EIGEN Token Unlocks
The EIGEN token was officially unlocked on October 1st, marking its debut in the trading and staking markets. Initially priced at $4.05, the token's FDV stands at $6.8B. With a market cap of $727.14M, EIGEN's initial circulating supply is set at 186.58M, out of a total maximum supply of 1.68B tokens. | Read More
Indiana Hacker Pleads Guilty to $37M Crypto Theft
Evan Frederick Light, a hacker from Indiana, has pleaded guilty to a significant hack involving the theft of over $37 million in cryptocurrency. This crime affected nearly 600 victims and took place between 2021 and May 2023. He accessed an investment firm's servers to steal user info and crypto. | Read More