Crypto venture capital (VC) funding experienced a resurgence in August, rising to $633 million, a 15% increase from the $550 million recorded in July. This rebound comes despite the broader crypto market's summer illiquidity.

The surge in VC funding was largely captured by blockchain infrastructure development firms, according to Luca Prosperi, CEO and co-founder of on and offchain payments protocol M^0 Labs. Prosperi expects continued VC interest in this sector, as VC capital is crucial for funding the continued development of blockchain technology.

The August spike in blockchain investment signals that VC interest is returning to crypto from the artificial intelligence industry. This is showcased by VC firm Lemniscap securing a $70 million fund targeting Web3 startups in early-stage development on Aug. 28.

Source: https://cointelegraph.com/news/crypto-vc-funding-rebounds-august

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