In 2023, the crypto firms raised around $6.25 billion in funding. The funds raised by crypto firms have drastically declined compared to 2022’s approximate raise of $22 billion. Indeed, the market recovered in 2023, with Bitcoin rallying more than 150%. However, the crypto market was greatly impacted by last year’s collapse of big firms such as Terraform Labs, FTX, and others. Hence, the Venture Capitalist (VC) interest in the crypto industry declined in 2023. Meanwhile, Artificial Intelligence (AI) was the talk of the town.