StormX
Facts
- HQ
- Seattle
- Sectors
- Cryptocurrency, Rewards Platform, Fintech
- Stage
- Startup
FTX Collapse Sparks Industry Turmoil as Seattle Crypto Startups Secure $30M Funding Amid Market Downturn
The collapse of FTX caused significant disruption in the crypto industry, impacting companies like BlockFi and Genesis, and leading to a decline in venture capital investments in crypto startups. Despite these challenges, Seattle-area crypto startups have secured about $30 million in funding this year, with optimism persisting among local crypto leaders.
Portland Trail Blazers End StormX Jersey Sponsorship After One Season, Seek New Partner
The Portland Trail Blazers are ending their jersey sponsorship with Seattle-based crypto startup StormX, a deal that started in the 2021-22 season and was intended to last five years. The team announced on September 30, 2022, that they are seeking a new jersey partner amid the broader market challenges facing crypto companies.
Seattle startups push into crypto, blockchain and Web3 amid investor caution and regulatory shifts
The article lists Seattle startups building products and services around crypto, blockchain, and Web3, noting the region’s talent but limited local investor interest and regulatory uncertainty. Industry leaders cite Seattle’s potential as a cloud-computing hub while warning entrepreneurs face funding disadvantages compared with other jurisdictions.
