In 2019, venture capitalists raised $3.3 billion from investors for investment in various stage private crypto firms. In 2020, the amount grew to $5.5 billion, to $14.4 billion in 2021, and $21.6 billion in 2022. So far this year, the total is $0.5 billion. Similarly, the amount invested in crypto firms is down 80% Y-o-Y, versus a 53% decline in the total amount of overall venture capital investment activity.