Following on from the $2.4 billion in funding the industry received from backers last year, the $850 million raised this year already looks set to beat all previous records.
At the same time, while continuing to avoid direct involvement with cryptocurrency handling, investors appear to be contributing larger sums per deal.
2018’s total came from 117 investments, whereas this year’s tally stems from just 13, Reuters reports.
While Reuters did not confirm which specific deals PitchBook counted in its listings, the cashflow pouring into crypto businesses is becoming ever more conspicuous.
Others also revealed cash injections, such as compliance startup Chainalysis, which this week added $6 million to its Series B funding pot, bringing the total raised to $36 million.
At the same time, those firms that struggled through the crypto winter with cost-cutting measures are also showing newfound optimism.