Blockchain Firms Are Raising Lots of Cash Despite Crypto Bear Market

Institutional funds continue to flow into the crypto space as traditional and crypto companies look to build strength in the bear market.

As retail investors dump cryptocurrencies, institutional investors are piling into the space, seeing it as an opportunity to determine their digital asset strategy ahead of the next bull market. Two trends seem to be emerging: increasing crypto-focused venture capital investments and more traditional asset managers giving institutional clients access to crypto assets.

Following the New York Digital Currency Group’s $720 million fundraiser, Brevan Howard Digital and Morgan Creek Digital recently led a $40 million funding round for blockchain game company Horizon Blockchain Games. Horizon, based in Toronto, will use the funds to construct its gaming developer platform Sequence, Niftyswap, an NFT marketplace, and a digital trading card game.

Brevan Howard Digital provides institutional investors access to crypto assets, while Morgan Creek Digital counts Solana, 1inch Network, and Coinbase as part of its investment p