The cryptocurrency investment slowdown will last through the end of 2022

According to a recent analysis from global auditing and consulting firm KPMG, global investment in cryptocurrency firms declined from a record $32.1 billion last year to $14.2 billion in the first half of 2022. The downturn is expected to last through the end of 2022. Venture capital investors poured $550 million into crypto custody business Fireblocks, $450 million into Ethereum infrastructure builder ConsenSys, and $400 million into crypto trading FTX in the first half of the year.

KPMG also predicts that in the second half of the year, investors will migrate from firms supplying tokens and NFTs to blockchain infrastructure initiatives, particularly the use of blockchain in the modernization of financial technology.

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