Nearly $900 million in VC went to crypto companies in the third quarter of 2020

Markets • October 18, 2020, 11:03AM EDT

During the third quarter of 2020, $897.7 million in venture funds were allocated across 212 crypto and blockchain startups, according to data compiled The Block Research.

Early-stage and seed deals were the most common deal types, according to The Block Research’s John Dantoni. Such deals represented half of the quarter’s total, with 59 deals for early-stage and 60 for seed deals.

The average deal size for early-stage startups was $7 million. These early-stage deals aggregated about $272 million, or about 30% of the investment total for the quarter. Seed deals averaged $2.1 million and accounted for about 12% of investments for the quarter.

To read more of the Q3 summary, subscribe to The Block Research.

About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.