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Crypto Freeze Continued Last Year as Deals Plunged, PwC Says

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Photographer: Andrey Rudakov/Bloomberg

The cryptocurrency industry’s struggles to attract mainstream investment continued last year as global fund raising and deals both dried up, according to a new report from PricewaterhouseCoopers LLP.

Both the number and value of cryptocurrency-related fund raising and mergers and acquisitions sank last year, led by a 76% collapse in M&A value, to $451 million in 2019 from almost $1.9 billion the year before, according to data seen by Bloomberg. The amount of funds raised sank 40%, to $2.24 billion.