US ‘dominates’ crypto startup funding in Q2: Report

Regardless of facing regulative examination in the United States, crypto firms continue to innovate, with nearly half of all capital investments flowing towards U.S. crypto services, according to a current report.Published by crypto investment firm Galaxy Digital on July 14, the report stated that U.S.-based crypto startups had a substantial share of interest from endeavor capital (VC) firms.” US-based crypto startups accounted for more than 43% of all offers completed and raised more than 45% of the capital invested by VC companies. Source: Galaxy ResearchRelated: SEC accepts BlackRocks Bitcoin ETF application, signaling regulatory reviewThis comes in the middle of the United States Securities and Exchange Commission taking action against a number of U.S. crypto firms in recent times.Most recently, its case against Ripple, declaring that its native token XRP (XRP) is a security, was ruled partly in favor of Ripple on July 13, specifying that it is not a security for retail sales.Cointelegraph formerly reported on June 18 that Ripple CEO Brad Garlinghouse thinks the SEC is “looking to eliminate” development and the cryptocurrency industry in the U.S.Garlinghouse argued that the SECs handling of the Hinman speech documents throughout the Ripple case isnt about “any one token or any one blockchain,” however more so the overall stance that the SEC has towards the crypto market.