The Global Hub for VC Money May Be Cooling on Crypto

The Global Hub for VC Money May Be Cooling on Crypto

Silicon Valley was the second-highest ranked U.S. hub in CoinDesk’s Crypto Hubs 2023. Several of the eight criteria were measured on a national basis, so all the U.S. hubs were hampered by a middling crypto regulatory score, a drivers criteria, which at 35% was the most heavily weighted overall. This poor performance was partially offset by the U.S.’s high crypto adoption score, another drivers criterion, represented 10% of the overall score. Among the U.S. hubs, Silicon Valley generally trailed Wyoming just a hair in opportunities, which is based on per-capita rate of crypto jobs, companies and events. Due to its high cost of living, Silicon Valley suffered from a lower quality of life score, weighted 15% and a measure within the enabler category. But the coastal Silicon Valley area had the upper hand in other enabler measures including digital infrastructure and ease of doing business.

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