Investment in Web3 and crypto startups in Latin America fell 83% from the previous year to just $1.1 billion

Web3 and crypto startups face funding challenges in Latin America in 2023, with startup funding in Latin America down 83% from the previous year, with only $1.1 billion invested. Similarly, venture capital funding for global cryptocurrency companies fell significantly in the first quarter of 2023, plunging 80% compared to the previous year, with investment volume falling from $12.3 billion in 2022 to $2.4 billion in 2023. A Goldman Sachs survey showed that only 12% of family offices expressed potential future interest in cryptocurrencies, down from 45%. The extreme volatility in the cryptocurrency market over the past year appears to have cooled their interest, with 62% saying they have neither invested nor are interested in cryptocurrencies in the future, up from 39%. (Beincrypto)