🚀 AI Dominates VC Funding, Leaving Crypto in the Dust 📉

Global venture funding has dropped nearly 50% compared to last year, and the remaining funds are being directed towards AI projects. The crypto industry made only 382 deals in Q2 2023, totaling $2.34 billion, a far cry from Q1 2022's $12.14 billion. The collapse of major crypto players like Celsius, Voyager, and FTX has shaken investor confidence, causing major VCs to slash their crypto funds.

Meanwhile, AI projects are commanding huge VC rounds, with generative AI startups raising over $1.6 billion in Q1 2023 alone. However, these numbers may be unsustainable, and the recent GPU shortage could impact innovation.

What do you think about the shift in VC funding from crypto to AI? Share your thoughts in the comments! 💭