Crypto firms raise $258m despite $2 trillion market drawdown

Market Overview - The cryptocurrency market has experienced a $2 trillion wipeout, yet venture capitalists continue to invest, with $258 million poured into crypto companies in the first week of February [1] - Key sectors attracting investment include decentralized finance and payments, with four and three deals respectively [1] Investment Trends - Venture capitalists are shifting focus towards later-stage projects that have institutional partnerships and clear go-to-market strategies, aiming to identify promising projects before they achieve mainstream success [2] Major Funding Rounds - Anchorage Digital: Secured $100 million in strategic funding led by Tether, positioning itself as a comprehensive service provider for institutional clients in digital asset finance [3][4] - TRM Labs: Raised $70 million in a Series C round led by Blockchain Capital, achieving a valuation of $1 billion. The company provides analytics software for tracing transactions and preventing fraud in digital asset networks [5][6] - Jupiter: Completed a $35 million funding round from ParaFi Capital, utilizing its stablecoin JupUSD for the transaction [7]