Coinbase Ventures is increasing its investments in cryptocurrency startups outside of the United States, particularly in India, Singapore, Australia, and the UK. The shift in focus is due to growing regulatory scrutiny in the US. Hoolie Tejwani, the director of corporate development and ventures at Coinbase, stated that they are seeing promising companies and founders who are removing the US from their business plans to avoid serving US customers. Coinbase Ventures has made over 50 investments in 15 countries in the past year. However, overall investment in the crypto industry has declined, with corporate venture capital arms making significant cutbacks. Regulatory scrutiny has also influenced Coinbase Ventures' investment strategy. Other major players in the crypto industry, including Kraken Ventures and Binance Labs, have also adjusted their investment strategies. Kraken Ventures has seen a decline in deal count but remains actively involved in making investments. Binance Labs continues to invest in crypto projects despite regulatory setbacks. VC funding in the crypto industry has decreased month-on-month and year-on-year. Infrastructure projects received the largest share of funding, followed by decentralized finance, centralized finance, and non-fungible tokens/GameFi.
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