The investing arm of Coinbase says it will avoid centralized lending platforms while focusing on DeFi protocols.
Coinbase Ventures’ Q2 report indicates that the overall deal activity declined along with the pessimistic sentiment taking reign in the broader market. The bearish market condition, however, did not change the firm’s investment thesis on infrastructural projects that demonstrate real utility as well as the burgeoning Web3 gaming sector.Coinbase Ventures’s deal activity was down 34% QoQ from 71 to 47 but remained up 68% YoY, according to the Q2 investment memoon Thursday.
Despite the gloomy macro environment, Coinbase Ventures continue to invest in projects with real utility, as shown in its focus on Web3/protocol infrastructure and Platform&Developer Tool, accounting for 38% and 21% of its total investment, respectively.
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