European DeFi startups saw a 120% increase in VC funding in 2022: Finance Redefined

cointelegraph.com:

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week.

The ongoing downturn in the crypto market hasn’t stopped European venture capital (VC) firms from investing in DeFi projects. A new report revealed that European DeFi startups saw a 120% increase in VC funding last year.

The Euler Finance saga continued to dominate headlines, with the exploiter returning a significant chunk of the $190 million in stolen funds. The exploiter has returned over 58,000 stolen Ether (ETH) in one installment, and another $37 million worth of ETH and Dai (DAI) in the second one.

Traditional banking giant, Citibank, forecasts tokenization will take over traditional finance and predicts that by 2030 trillions in assets could be tokenized.

MakerDAO passed a new constitution to create multiple offices tasked with fulfilling various jobs for the protocol, each with its powers and responsibilities.

The top 100 DeFi tokens had a mixed week and didn’t see many changes from the previous week, with a majority of the tokens trading in green.

2022 was a turbulent year for the crypto space, from an ongoing bear market and high-profile collapses of some of the industry’s most prominent players, like Terra and FTX. Despite the setbacks, venture capital investors continued supporting crypto startups.

According to a new study released by European investment firm RockawayX, VC investment in crypto startups based in Europe reached its all-time high in 2022, with $5.7 billion invested. European decentralized finance startups hit $1.2 billion in 2022 — a 120% increase from the previous year’s investments of $534 million.

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