{"id":85187,"date":"2023-11-16T05:05:17","date_gmt":"2023-11-16T10:05:17","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/coinbase-ventures-invests-more-in-startups-outside-the-us-especially-in-india-singapore-australia-and-the-uk\/"},"modified":"2023-11-16T05:05:18","modified_gmt":"2023-11-16T10:05:18","slug":"coinbase-ventures-invests-more-in-startups-outside-the-us-especially-in-india-singapore-australia-and-the-uk","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=85187","title":{"rendered":"Coinbase Ventures Invests More in Startups Outside the US, Especially in India, Singapore, Australia, and the UK"},"content":{"rendered":"<div>\n<figure id=\"attachment_132090\" aria-describedby=\"caption-attachment-132090\" style=\"width: 640px\" class=\"wp-caption aligncenter\"><noscript><\/noscript><figcaption id=\"caption-attachment-132090\" class=\"wp-caption-text\">Source: AdobeStock \/ photo_gonzo<\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\"><strong>Coinbase Ventures<\/strong> has shifted focus to crypto startups outside the United States amid growing regulatory scrutiny in the country.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\"><strong>Hoolie Tejwani<\/strong>, the director of corporate development and ventures at Coinbase,\u00a0<\/span><span data-preserver-spaces=\"true\">told Bloomberg in a recent interview<\/span><span data-preserver-spaces=\"true\">\u00a0that the company is now backing startups based in India, Singapore, Australia, and the UK.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cWe are seeing some companies and founders who have great ideas, and they\u2019re saying, \u2018OK, I need to extract the US from my business plan and not serve US customers,\u2019 which is a shame,\u201d he said.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Tejwani emphasized that Coinbase Ventures is actively deploying capital and has made over 50 investments in 15 countries in the past year.\u00a0<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Coinbase Ventures Sees Decline in Investments<\/span><\/h2>\n<p><span class=\"replacer\"><\/span><br \/><span data-preserver-spaces=\"true\">Coinbase has been a prominent investor in the cryptocurrency industry, holding the record for the highest number of deals with industry startups, according to data from PitchBook.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">However, in recent months, Coinbase\u2019s investing activity has experienced a decline.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">This decline is part of a broader trend of reduced investment in crypto companies, especially among corporate venture capital arms.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">While overall crypto venture funding dropped by 63% to $2 billion in the third quarter compared to the same period last year, corporate VC businesses made even more significant cutbacks, as noted by PitchBook crypto analyst Robert Le.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The decrease in investment, coupled with a shift towards making smaller bets, reflects a more cautious approach from corporate investors who aim to conserve cash and focus on their core businesses.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Regulatory scrutiny of the crypto industry has also played a role in shaping Coinbase Ventures\u2019 investment strategy.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Binance and Kraken Reassess Investment Strategies<\/span><\/h2>\n<p><span class=\"replacer\"><\/span><br \/><span data-preserver-spaces=\"true\">Other major players in the crypto industry, like Kraken Ventures and Binance Labs, have also reassessed their investment strategies.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Kraken Ventures, the venture arm of crypto exchange Kraken, has seen a decline in its deal count but remains actively involved in making investments.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cOver the last two years, we typically do about three to four new deals a quarter and deploy about $3 million in capital,\u201d Gath said.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">He also noted the importance of startups with real products and revenue, as well as the need for thorough due diligence when selecting investment opportunities.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Meanwhile, Binance Labs, the venture arm of Binance, the world\u2019s largest crypto exchange, continues to invest in crypto projects despite regulatory setbacks.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cWe are more proactively looking for founders,\u201d said Dana Hou, who oversees business strategy and operations for the division.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cIt\u2019s easier to find builders who are more committed to the industry.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">As\u00a0<\/span><span data-preserver-spaces=\"true\">reported<\/span><span data-preserver-spaces=\"true\">, VC funding in October declined 10% month-on-month, with only 75 investment projects recorded compared to 83 projects in September 2023.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Furthermore, this reflects a significant year-on-year decrease of 45% compared to the 135 projects reported in October 2022.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In terms of investment allocation, infrastructure projects received the largest share of funding, accounting for approximately 24% of the total, followed by decentralized finance (DeFi) at 21%, centralized finance (CeFi) at 9%, and non-fungible tokens\/GameFi at 13%.<\/span><\/p>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em><br \/>\n            Enter your email for our Free Daily Newsletter        <\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/coinbase-ventures-invests-more-in-startups-outside-the-us-especially-in-india-singapore-australia-and-the-uk.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: AdobeStock \/ photo_gonzo Coinbase Ventures has shifted focus to crypto startups outside the United States amid growing regulatory scrutiny in the country.\u00a0 Hoolie Tejwani, the director of corporate development and ventures at Coinbase,\u00a0told Bloomberg in a recent interview\u00a0that the company is now backing startups based in India, Singapore, Australia, and the UK. \u201cWe are [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":85188,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-85187","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Coinbase Ventures Invests More in Startups Outside the US, Especially in India, Singapore, Australia, and the UK | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Source: AdobeStock \/ photo_gonzo Coinbase Ventures has shifted focus to crypto startups outside the United States amid growing regulatory scrutiny in the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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