Why crypto startup funding has surged despite policy, legal woes

economictimes.indiatimes.com:

Funding in global and Indian crypto ventures hit a record high in 2021 despite uncertainties on legal and policy fronts. Blockchain platform Polygon recently raised $450 million. What has caused the spurt in investments in the last two years? What is the strategy behind private equity and venture capital investors’ bets in this emerging space despite the uncertainty around crypto regulation in India? Crypto companies spent millions of dollars on advertisements for the Super Bowl for the first time last Sunday, attracting over 100 million viewers. One of the ads which has gone viral features comedian Larry David. The creator of the hit sitcom ‘Curb Your Enthusiasm’ portrays skeptical figures during great moments in history. After scoffing at the invention of the light bulb and man landing on the moon, David suggests crypto will never amount to anything. But the advertiser, FTX Trading, an exchange, is persuasive: “Don’t be like Larry....Don’t miss out on crypto.”

Did you Know?

A statue honouring mysterious Bitcoin founder Satoshi Nakamoto was unveiled in a business park near the Danube River in the Hungarian capital Budapest

Whether it’s FOMO or sensing a great potential, institutional and angel investors have ramped up funding for Indian crypto and blockchain startups despite policy uncertainties and legal ambiguity. Cryptocurrency and blockchain startups in the country raised a record $524 million in 2021 against just $5.5 million in 2019. Funding in this year has gotten off to a good start largely due to one company — Polygon — which contributed $450 million of the total $459 million raised this year till mid-February. Customer Growth Individua