The first half of 2024 has witnessed a significant rise in the share of cryptocurrency startups in Asia and Africa, according to data compiled by the blockchain startup accelerator Alliance. This shift comes amid growing regulatory uncertainties in the US and increased adoption of digital assets in emerging markets.

Key Highlights:

• Rising Crypto Startups in Asia and Africa:Asia’s share of new crypto startups reached 26.8%, while Africa’s share climbed to 5.2%.
  Europe has become the leading region, making up 31.4% of new crypto startups.
  
• Decline in US and Canadian Startups:The US and Canada have seen a decline in their share of new crypto startups due to regulatory uncertainties.
  Regulatory pressures have pushed firms like Phoenix Wallet and Wasabi Wallet to exit the US market.
  
• Influence of Big Tech and Education:There has been a notable decrease in startup founders coming from Big Tech firms and top 100-ranked universities.
  About 39% of startups are launched by solo founders, with 51% comprising teams of 2-5 members.
  
• Accelerator Insights:Alliance's extensive data from over 3,000 annual applications provides unique insights into the industry's direction.
  The data suggests a growing trend towards decentralization and diversification of crypto startup origins.
  

Analysis:

This surge in Asia and Africa highlights the growing importance of emerging markets in the global crypto ecosystem. As regulatory landscapes evolve, these regions are poised to become significant players in driving innovation and adoption in the cryptocurrency space.

Conclusion:

The shifting dynamics in the cryptocurrency startup landscape reflect broader trends of decentralization and global diversification. With Asia and Africa leading the charge, the future of crypto innovation looks increasingly global.

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