The top 10 largest crypto donation campaigns in 2022

The top 10 largest crypto donation campaigns in 2022

The crypto sector was confronted with considerable challenges in the first half of 2022, since prices of important assets such as Bitcoin (BTC) and Ether (Eth) recorded a loss of over 50 %. The situation was further exacerbated by the collapse of the Terra ecosystem in the second quarter, which affected the industry. As a result, large industry players such as Three Arrows Capital, Celsius Network and Voyager Digital later registered bankruptcy.

The bear market caused risk capital providers (VCS) to become more careful in their investments in the crypto industry. According to Defillama data, VC financing in this sector has decreased steadily and fell from $ 8.7 billion in the first quarter to $ 6 billion in the second quarter and then $ 3.5 billion in the third quarter. In less than 24 hours until the end of 2022, VCS invested around $ 2 billion in crypto projects in the fourth quarter.

Despite the declining VC investment, some crypto projects received a large means in 2022. Here are the top 10 largest crypto donation actions according to Defillama.

Luna Foundation Guard: $ 1 billion

The Luna Foundation Guard (LFG), a non-profit organization behind the collapsed Terra ecosystem, received the most important individual amount this year. In February, the company collected $ 1 billion in private token sales to secure the attachment to Terrausd (VAT). However, the efforts of the LFG failed, since VAT lost its $ 1 parity and crashed to zero a few months later.

Cross River: $ 620 million

On March 30th, Cross River announced that it collected $ 620 million from Andessen Horowitz, Eldridge and other investors. At that time the company said that the capital would flow into its payment and cryptol solutions.

Cross River is a financial service company based in New Jersey that offers its customers a wide range of services, including embedded payments, cards, loans and cryptol solutions. The company operates credit and payment services for many of the largest crypto companies, including coinbase.

Fire blocks: $ 550 million

In January the provider of digital-asset infrastructures, Fireblocks, $ 550 million collected from institutional investors, including D1 Capital Partners and Spark Capital.

The company has grown over 1,300 today since the fundraising campaign of around 800 financial institutions. It also secured the transfer of over $ 3 trillion in digital assets of $ 2 trillion in January at the time of writing this article.

Vigoreck: $ 450 million

The Ethereum scaling solution polygon collected around $ 450 million through a private sale of its native Matic token in a financing round led by Sequoia Capital India in February.

The financing was the first major financing round of Polygon since it was founded in 2017.

Consensys: $ 450 million

The Ethereum software developer Consensys announced the conclusion of a funding round of $ 450 million in March with an evaluation of $ 7 billion and thus doubled its evaluation since November 2021.

The round was led by Parafi Capital, with the participation of Temasek, Softbank and Microsoft.

Yuga Labs: $ 450 million

Yuga Labs, the creator of the non-fungable token collection (NFT) of the Bored Ape Yacht Club, collected $ 450 million of seed financing in March. The fundraiser took place a week after the introduction of apecoin (APE) by Yuga, a governance token used within the APE ecosystem.

reports that the United States Securities and Exchange Commission (SEC) currently examines the distribution of APE to the holder of Bored Ape Yacht Club and relatives NFTS.

Secret network: $ 400 million

In January, the Blockchain Secret Network, which was aimed at data protection, collected $ 400 million into two parts. The first was an ecosystem fund of $ 225 million to support developers who build on the network.

The second was an accelerator pool of $ 175 million, which was filled with the SCRT token of the platform to provide grants, capital and incentives to increase the user acceptance. The stakeholders who have received SCRT are now bankrupt Alameda Research, Kucoin Labs, Huobi Ventures and others.

FTX USA: $ 400 million

ftx us, the American unit of the contested crypto exchange FTX, collected $ 400 million in January with an evaluation of $ 8 billion.

The Ontario Teachers' Pension Plan Board, Lightspeed Venture Partners, Softbank Vision Fund 2, Temasek Holdings, Multicocoin Capital and Paradigm included. Unfortunately, these companies have lost their investment in the crypto exchange according to their latest bankruptcy application.

FTX: $ 400 million

shortly after FTX US $ 400 million, his parent company secured the same amount of almost the same investors, but with a higher rating of $ 32 billion.

ftx registered bankruptcy in November after it was confronted with a liquidity bottleneck in connection with its token. After the bankruptcy application, some investors wrote down their investments in the stock exchange.

Near Protocol: $ 350 million

The last on the list of the 10 largest crypto donation campaigns in 2022 is the blockchain developer Near Protocol. The platform announced that it collected $ 350 million in April in a financing round under the direction of the Tiger Hedge.

Back then Near said that the financing was used to accelerate the decentralization of his ecosystem. Since the fundraising campaign, the project has grown from 450 projects to 700 today.