Crypto VC funding collapses 75% in April — just $660M across 62 deals.

April's crypto venture numbers are in, and they're stark: $660 million raised across 62 deals, down roughly 75% from March's $2.6 billion across 84 rounds. It marks the lowest monthly funding total in over a year, and the sharpest single-month contraction the sector has seen in recent memory.

The drop isn't a rounding error — it's a structural signal. A near 4x decline in dollar volume, combined with fewer deal counts, points to investors pulling back across the board rather than simply avoiding one sub-sector. Risk-off sentiment appears to have moved from public markets into private allocations.

For founders in the fundraising window, the data suggests a materially harder environment ahead. Rounds that might have closed quickly in Q1 will likely face longer diligence cycles and tighter terms through Q2.