Despite the bearish trend in the crypto market, venture capital firms completed several deals worth billions in the first quarter of 2023. However, the number and value of investment deals declined compared to the previous quarter, marking the fourth consecutive quarter of dipping investment activity for VCs. The report also noted a mix in the valuation trends, with seed and late-stage rounds growing while early-stage rounds plummeted. The crypto market as a whole has continued to decline, with most assets witnessing losses and Bitcoin struggling to maintain its price.
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