By Medha Singh (Reuters) -Crypto startup funding rose for a second straight quarter to hit $2.4 billion in the first three months of 2024, PitchBook data showed, as expectations of lower interest rates and the debut of the first U.

Venture capital funding for cryptocurrency startups surged to $2.4 billion in Q1 2024, reflecting a 40.3% increase from the previous quarter. This increase was driven by the debut of the first U.S. Bitcoin

CI covered the rise in venture capital money going into digital assets. There has been renewed interest in risk capital going into crypto firms.

Funding was spread across 518 deals and rose by 40.3% from the previous quarter, according to data firm PitchBook. Global venture capital investments dropped to a near five-year low in the same period.

Global venture capital investment in crypto companies rose to $2.4 billion in the first three months of 2024, data showed on Monday, in a tentative sign that investor interest is returning. Crypto venture capital flows peaked at $11.

Crypto and blockchain-focused venture firm New Form Capital is returning to the fundraising market, seeking to raise a $100 million fund in the latest sign investors remain bullish on the once-beleaguered crypto sector.

This upturn is particularly noteworthy given the previous peak of venture capital investment in crypto companies, which soared to an impressive $11.1 billion in the first quarter