Venture capital investments in crypto firms have plunged by over 70% within the past year, as per data from crypto provider RootData. According to the data, there were just 83 projects that received $520 million in June 2023, compared to $1.81 billion spread across 149 rounds last year. Despite this downturn, the infrastructure sector drew $213 million in funding last month, albeit a 50% drop from the previous month. The most active venture capitalist was Coinbase Ventures, with 71 funding rounds in the past year. Industry experts attribute this trend to several factors, including the growing popularity of investment in AI, the crypto turmoils that happened last year, and increasing regulatory scrutiny of the crypto industry.