Coinbase Ventures To Shift From Centralized To Decentralized Finance
Coinbase Ventures, the investing arm of Coinbase, has announced that it will be focusing more on decentralized finance (DeFi) and gradually moving away from centralized finance. The company recently announced a 34% drop in its deals in the second quarter of the year. The firm noted that the performance is a reflection of the general bearish market and not specifically on Coinbase Ventures. But the bearish market did not affect the company’s investments in infrastructural projects. These projects show the actual utility and the booming Web3 gaming sector. Coinbase Ventures Registers 34% Drop In Its Deal Activity Coinbase Ventures noted that its deal activity declined by 34% in Q2 2022 compared to the volume in Q2 2021. It fell from 71 to 47 quarter-over-quarter (QoQ) but remained strong at 68% year-over-year (YoY), according to the investment menu for Q2. The firm stated that the decline in the broader venture market started in the first quarter of the year, as it saw t...