Of the 96 cryptocurrency projects that were declared ‘dead’ this year, 28 had received funding, bringing the total ‘dead’ project financing amount to $3.61 billion, as per the “2022 Crypto Industry Dead Project List” released by the crypto analytics database RootData on December 27.
Among the largest beneficiaries of these investments is the recently collapsed crypto trading platform FTX, which had accumulated $1.73 billion through various funding rounds from investors, including Coinbase Ventures, Binance Labs, Pantera Capital, Paradigm, Sequoia Capital, and others.
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