Data compiled by venture capital firm CV VC show that Switzerland was less affected by the crisis in the cryptocurrency industry in 2022. Specifically, although 183 Swiss blockchain companies went bankrupt last year, 190 startups and foreign companies opened new offices at the same time.
The researchers also found that Switzerland’s Crypto Valley, centered around the canton of Zug, now has roughly the same number of entities as in 2021 (currently 1,135). These companies employ 5,766 people, just about 4% less than before the crypto bear market began. The most notable of the collapsed companies are FTX Europe and crypto asset manager Covario.
CV VC research also shows that despite the sharp decline in the value of crypto assets, the valuation of the top 24 blockchain companies has increased by 55% to $9.7 billion, with the biggest winners being 21Shares and Gnosis Safe, which manages Ethereum-based assets. Both are reportedly valued at more than $1 billion. (Swissinfo)