Asia, Africa share of crypto startups will rise this year, Accelerator says.
In the first half of 2024, the share of cryptocurrency startups launched in Africa and Asia has increased to the highest level.
In the year According to the Blockchain Startup Accelerator and Founder Community Alliance released on July 10, Europe topped the US and Canada for new cryptocurrency startups in H1 with a 31.4% share, followed by Asia with a 26.8% share. .
Alliance DAO's Qiao Wang and “Chloexyg” believe the trend may be due to regulatory uncertainties in the US and the greater acceptance of digital asset applications in emerging markets.
While Africa's share rose to 5.2% – slightly below Latin America – Oceania, which consists mostly of Australia and New Zealand, saw only 1.8% of all crypto launches in the first half of the year.
The alliance said it compiled the data from the 3,000 annual applications it receives for its Startup Accelerator program.
“Because of our sample size and being relatively agnostic to these factors, we were able to gain unique insights into where the industry is headed.”
Similar regulatory concerns expressed by Alliance have forced self-storage service providers Phoenix Wallet and Wasabi Wallet to exit the US market recently, while several other firms have expanded elsewhere.
Many blamed the US Securities and Exchange Commission's rule-by-enforcement approach.
Meanwhile, the number of startup founders from large tech companies has dropped by more than 15 percent since 2021, according to Alliance data.
Related: Binance, Coinbase and Gemini employees are among the least happy, data suggests
There is a similar decline in the number of founders from top 100-ranked universities.
About 39% of startups are started by a lone founder, while 51% of startups consist of teams of between 2-5 members.
Magazine: Find hackers who can help you recover your crypto life savings
