"Web3 is not equal for everyone": Crypto Council for Innovation study shows that racial disparities still affect financial support in the blockchain space. 😞

- Black and Latino founders continue to attract only a small portion of overall deal volume.

- Investment in black businesses fell 45% in 2022, while overall venture capital investment fell 36%.

- Although Black and Latinx crypto businesses raised significantly more funds in 2022 ($16.5 billion) compared to 2017 ($1 billion), this amount represented only 0.5% of the industry's total funds raised web3 in 2022.

“The sharp decline represents “the biggest drop in funding for Black entrepreneurs in the past decade.”

- Black and Latino companies “consistently demonstrate value even during market downturns,” but they “are the first to lose when funding streams begin to dry up.”