Coinfomania: Where blockchain and cryptos live.

New Report Shows Progress of Crypto Startups Since 2014

A recent survey conducted by Temio, a company that provides white-label technology to enterprise customers serving blockchain and cryptocurrency real-world applications, indicates that crypto startups are increasing with significant progress.

The research was conducted from October 14 to November 29, on three main objectives: to know the actual number of jobs being created, the demographics of crypto founders, and the success ratio of funded crypto startups.

From a database of 5,331 organizations analyzed, Temio noted that over 5,000 crypto-focused startups have launched from 2014, and so far, have raised billions of dollars from investors.

Only 2,577 startups raised or received funding through Angel, Venture Capital (VC), or Initial Coin Offering (ICO). Meanwhile, 472 (18%) of these startups are either closed or are no longer active; however, they alone raised a total of $4,7 billion from investors.

Also, 56 (2.3%) cryptocurrency startups have been acquired, most of which are led by men on a 94.3% count, while the women lead by 5.7%. In addition, Temio said in the report that first-timers established 38 % of the crypto startups, and 63% of crypto CEOs are mostly white.

Followed by the United Kingdom, the United States was said to be the leading country for crypto startups, with New York as the central city. Currently, the crypto and blockchain-focused startups hired an estimated 86,443 people across the world.

Crypto Startup Acquisition Since January

In light of the survey, Coinfomania reported most of the major company acquisitions in the blockchain and crypto sectors. On November 19, the Winklevoss twin-owned crypto exchange and custody provider, Gemini acquired Niffy Gateway, a startup that facilitates the sales of non-fungible tokens (NFT).

On November 21, leading cryptocurrency exchange, Binance acquired a peer to peer cryptocurrency exchange, WazirX, which is based in India. Through the acquisition, it enabled Indians to purchase and sell cryptocurrencies with fiat, Indian rupees (INR) quickly.

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