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Top Crypto Startups

Top Crypto Startups to Watch (and Work for) in 2023

July 20, 2023
      |      Kieran Ryan
hand holding iphone with coinbase stock interface

My Background

Hi, I'm Kieran! I worked in startups for five years at On Deck and Wefunder. Some of my favorite things that I've worked on during my career include:

  • Wefunder Workaway: 12 founders working on a new idea, 7 days, 1 mansion in Hawaii. One of the teams we picked raised a Series A from Andreessen Horowitz, and two people who met during the trip got married...
  • On Deck: As employee #15, I contributed to the startup's growth from no revenue to a $20 million run rate in less than a year. I led the team that built the admission infrastructure to support and scale ~20 fellowships for founders, capital allocators, operators, and creators.
  • XX: Worked on a pre-YC accelerator program that invested $125K on an MFN SAFE into 8-10 teams per cohort.
  • ODX: Worked on a $100 million accelerator program that invested $125K for 7% into 100s of startups. We partnered with leaders like Flexport to build vertical industry tracks around supply chain & logistics, etc.
  • Ryan Marketing: Created an influencer marketing startup (2 million+ Instagram followers) during college with my twin brother and realized early that monetization for creators was broken. I learned a lot, and it paid enough to cover my schooling, rent, and meals.

The Methodology

I considered several data points to arrive at the startups selected on this list, including company traction, funding raised, valuation, and investors. From my initial list, I then referenced each startup with my personal network to narrow down the list to the one you see below. I take my credibility seriously, so I do not take any money from startups who want to be included on this list to remain impartial. If you want to understand my analysis of startups and prefer long-form content, read my research on the top startups of 2023 afterward.

Small triangle inside a white square inside a dark background

Fireblocks

An easy-to-use platform to create new blockchain-based products and manage day-to-day digital asset operations.

Headquarters

New York, New York

Industry

Cryptocurrency

Founded

2018

Funding

$1 billion

Valuation

$9 billion

Traction

  • In 2021, Fireblocks scaled revenue by 600% to between $50 million - $100 million, grew its customers from 100 to 800 and doubled the assets it secures on the platform to $2 trillion.
  • As of May 2023, Fireblocks powers 1,800 customers across Web3 & Fintechs like MoonPay, Magic Eden, Wealthsimple, eToro; Banking & Payments like Revolut, Checkout.com, Bitso, and BNY Mellon; Trading & Brokerage like Genesis, ParaFi Capital, and Woorton; Exchanges & Lending like Salt, BlockQuake, and CoinFLEX.
  • $4 trillion in assets are now secured on the platform.
CoinTracker Logo

CoinTracker

Cryptocurrency tax & portfolio software.

Headquarters

San Francisco, California

Industry

Cryptocurrency

Founded

2017

Funding

$101.6 million

Valuation

$1.3 billion

Traction

  • 1 million users+ track $50 billion in crypto assets on CoinTracker, accounting for 3% of crypto’s market cap.
  • CoinTracker supports 10,000+ crypto assets.

Gauntlet Logo

Gauntlet

Financial modeling platform to inform on-chain protocol management.

Headquarters

New York, New York

Industry

Cryptocurrency, Fintech

Founded

2018

Funding

$44.8 million

Valuation

$1 billion

Traction

  • As of May 2023, $38,520,770,560 assets depend on Gauntlet.
  • Gauntlet customers include Aave, Celo, ApeSwap, Immutable, Venus, Moonwell, BENQI, and Sushiswap.
  • From March 2021 to March 2022, Gauntlet reported 20x revenue growth.
NYDIG Logo

NYDIG

Bitcoin for all.

Headquarters

New York, New York

Industry

Cryptocurrency

Founded

2017

Funding

$1.4 billion

Valuation

$7 billion

Traction

  • NYDIG has partnered with the New York Yankees, GetPayroll, Deloitte, CSI Partners, Bottlepay, Jack Henry, and STAR Bank.
DeSo Logo

DeSo

The decentralized social blockchain.

Headquarters

Remote

Industry

Cryptocurrency

Founded

2019

Funding

$200 million

Valuation

Undisclosed

Traction

  • As of May 2023, DeSo reported 2 million wallets (i.e., 2 million users), $85 million+ transactions, $2 billion total transaction volume, and $30 million in creator earnings on their blockchain.
  • As of May 2023, 200+ run on the DeSo blockchain, including Openfund, Desofy, and Diamond.
StarkWare Logo

StarkWare

StarkWare develops STARK-based solutions for the blockchain industry.

Headquarters

Netanya, Israel

Industry

Cryptocurrency

Founded

2018

Funding

$273 million

Valuation

$8 billion

Traction

  • As of May 2023, StarkWare minted 107 million NFTs.
  • As of May 2023, StarkWare’s total volume traded was $957 billion, total equity locked was $511 million, and the total amount of various transactions processed was 431 million.
White ship logo on blue background

OpenSea

The largest NFT marketplace.

Headquarters

New York, New York

Industry

Cryptocurrency, Creators

Founded

2017

Funding

$427.2 million

Valuation

$13.3 billion

Traction

  • In 2021, OpenSea’s transaction volume increased by 600x.
  • In 2022, OpenSea creators earned $1.1 billion in creator fees. For comparison, Snap paid its Spotlight Creators $250 million in 2021.
  • As of May 2023, OpenSea’s transaction volume is $20 billion, with 80 million+ NFTs on the platform and two million+ collections.
Skiff Logo

Skiff

Private, encrypted, secure email.

Headquarters

San Francisco, California

Industry

Cryptocurrency

Founded

2020

Funding

$14.2 million

Valuation

Undisclosed

Traction

  • As of May 2023, Skiff has 400,000 users.
  • As of May 2023, Skiff’s Discord community has 9,772 members.
  • In 2022, Skiff launched Skiff Mail, Skiff Drive, and Skiff Calendar.
  • As of March 2022, Skiff has 20,000 users, up from 8,000 waitlist users in May 2021.
Privy Logo

Privy

Privy builds authentication, authorization, and data control tooling so developers can deliver exceptional products that keep users safe.

Headquarters

New York, New York

Industry

Cryptocurrency

Founded

2021

Funding

$8.3 million

Valuation

Undisclosed

Traction

  • Privy customers include web3 companies like Lighthouse, Mad Realities, Decent, Courtyard, Xeenon, and Molecule.
Parallel Logo

Parallel

Bringing DeFi to one billion people.

Headquarters

San Francisco, California

Industry

Cryptocurrency

Founded

2021

Funding

$29 million

Valuation

$500 million

Traction

  • As of May 2023, Parallel has 300,000+ users (up from 3,000 users in August 2021) and has $219,408,475 in total locked value (up from $700 million in total locked value in April 2022).
  • As of May 2023, Parallel’s Discord community has 128,561 members.
  • As of April 2022, Parallel has captured 22% of the total DOT crowd loan market.
nxyz Logo

nxyz

Fast, reliable web3 indexing.

Headquarters

Mountain View, California

Industry

Cryptocurrency

Founded

2022

Funding

$40 million

Valuation

Undisclosed

Traction

  • As of October 2022, nxyz has processed over 5 billion transactions across Ethereum, Polygon, Binance, Avalanche, Arbitrum, and Optimism.
  • As of May 2023, nxyz now supports transactions across Gnosis, Moonbeam, and Celo.
  • nxyz customers include BitGo, Fractal, Citrus, and Crossmint.
Multis Logo

Multis

All-in-one crypto finance.

Headquarters

San Francisco, California

Industry

Cryptocurrency

Founded

2019

Funding

$9.4 million

Valuation

Undisclosed

Traction

  • As of May 2023, Multis has hundreds of customers, including Axie Infinity, Planner DAO, Cauris, Standard DAO, GODA, Tellor Oracle Protocol, Orange DAO, The Sandbox Game, and Audius.
Iron Fish Logo

Iron Fish

Private, anonymous, and easy-to-use cryptocurrency.

Headquarters

Remote

Industry

Cryptocurrency

Founded

2020

Funding

$32.9 million

Valuation

Undisclosed

Traction

  • As of November 2021, Iron Fish has attracted ~2,000 self-identified crypto miners to its community.
  • As of May 2023, Iron Fish’s Discord community has 50,869 members.
  • As of May 2023, Iron Fish has 6,000 active nodes (operators and miners), representation in every country, 50,000 blocks mined, 13,000+ assets mined, and 140,000+ graffitis.
Uniswap Logo

Uniswap

A decentralized crypto trading protocol.

Headquarters

New York, New York

Industry

Cryptocurrency

Founded

2018

Funding

$176 million

Valuation

$1.6 billion

Traction

  • As of May 2023, Uniswap’s protocol has facilitated 151 million trades and $1.4 billion in trade volume.
  • As of May 2023, Uniswap’s Discord community has 100,482 members.
  • As of May 2023, Uniswap has 300+ integrations and 4,400+ community delegates.
Slingshot Logo

Slingshot

Buy, sell, and swap cryptocurrencies.

Headquarters

San Francisco, California

Industry

Cryptocurrency

Founded

2020

Funding

$23.3 million

Valuation

Undisclosed

Traction

  • As of May 2023, Slingshot has 50,000+ cryptocurrencies available to buy, sell, and swap on its platform.
  • As of May 2023, Slingshot has rated 4.8/5 stars from 29 ratings on the Apple App Store and 2.9/5 stars from 72 reviews on the Google Play Store.
  • As of December 2021, Slingshot has surpassed 100K+ wallets, 1 million+ trades, and $2 billion in trade volume.
Redefine Logo

Redefine

Security technology for DeFi investors.

Headquarters

Ra'anana, Israel

Industry

Cryptocurrency, Security & Compliance

Founded

2021

Funding

$14 million

Valuation

$50 million

Traction

  • As of May 2023, Redefine claims its technology has secured $4.3 billion in transactions.
  • As of May 2023, Redefine reports 80,000+ smart contracts analyzed from customer transactions, 18,000+ wallets analyzed concerning customer transactions, and 70,000+ events scanned from customer transactions.
Provenance Blockchain Foundation Logo

Provenance Blockchain Foundation

Supports the growth and health of the Provenance blockchain.

Headquarters

San Francisco, California

Industry

Cryptocurrency

Founded

2022

Funding

$20 million

Valuation

Undisclosed

Traction

  • As of May 2023, the Provenance Blockchain has $9.4 billion in total value locked and 52 active validators.
  • As of 2023, the Provenance Blockchain has supported $12 billion+ in financial asset transactions.
  • As of May 2023, the Provenance Blockchain Discord has 998 members.
Vial with blue liquid.

Osmosis

Swap, earn, and build on the leading decentralized Cosmos exchange.

Headquarters

Singapore, Singapore

Industry

Cryptocurrency

Founded

2021

Funding

$21 million

Valuation

Undisclosed

Traction

  • As of October 2021, Osmosis had $500 million in total value locked in the Cosmos exchange.
  • In May 2022, Osmosis launched a grants program with $4.4 million worth of OSMO tokens.
  • As of May 2023, Osmosis’ Github has 733 stars, 381 forks, and 120 contributors.
  • As of May 2023, Osmosis’ Discord community has 19,833 members.
lightning bolt

Lightning Labs

Building faster, cheaper, global layer-two bitcoin.

Headquarters

San Francisco, California

Industry

Cryptocurrency

Founded

2016

Funding

$82.5 million

Valuation

Undisclosed

Traction

  • As of May 2023, Lightning Labs’ GitHub has 6.9K stars, 1.9K forks, and 327 contributors.
  • As of May 2023, Lightning Labs’ developer Slack community has 6,805 members.
Helium Logo

Helium

Decentralized wireless network.

Headquarters

San Francisco, California

Industry

Cryptocurrency

Founded

2013

Funding

$364.8 million

Valuation

$1.2 billion

Traction

  • As of May 2023, Helium has a network of 991,170 in total hotspots and 143,934,821 circulating HNT supply.
  • As of May 2023, Helium’s Discord community has 167,441 members.
  • Helium customers include Choovio, Awair, AIRICA, and Abeeway.
Genesis Logo

Genesis

Bitcoin mining company.

Headquarters

New York, New York

Industry

Cryptocurrency

Founded

2013

Funding

$1.6 billion

Valuation

$5.5 billion

Traction

  • As of July 2021, Genesis has mined over 1 billion in Bitcoin, built 20 industrial-scale mining farms, and brought over 300,000 miners online.
  • As of May 2023, Genesis has 16 data centers online, 400+ MW online, and 120K+ rigs online.
Futureswap Logo

Futureswap

Open trading platform for crypto assets.

Headquarters

San Francisco, California

Industry

Cryptocurrency, Fintech

Founded

2019

Funding

$13.6 million

Valuation

Undisclosed

Traction

  • As of May 2023, 10,434 total trades have been made on the platform worth $4,200,368,117 in all-time trade volume.
Figure Logo

Figure

Loan origination, equity management, private fund services, banking and payments company.

Headquarters

San Francisco, California

Industry

Cryptocurrency, Fintech, Banking

Founded

2018

Funding

$1.5 billion

Valuation

$3.2 billion

Traction

  • As of February 2022, Figure has 60,000+ members across the United States and provided $5 billion in funding for members.
  • As of May 2023, Figure has a 4.4/5 star rating from 2,151 reviews on Trustpilot.
Digital Currency Group Logo

Digital Currency Group

Capital engine supporting the crypto industry.

Headquarters

Stamford, Connecticut

Industry

Cryptocurrency

Founded

2015

Funding

$1.3 billion

Valuation

$10 billion

Traction

  • As of May 2023, the Digital Currency Group has made 200+ equity investments, 50+ fund investments, 30+ digital asset and token holdings, and invested across 25+ countries.
  • Digital Currency Group investments include BitPay, Chainalysis, Circle, CoinList, Coins.ph, Dapper Labs, Mercari, and Ripple.
Chainalysis Logo

Chainalysis

The blockchain data platform.

Headquarters

New York, New York

Industry

Cryptocurrency, Data

Founded

2014

Funding

$536.6 million

Valuation

$8.6 billion

Traction

  • As of May 2023, Chainalysis has 1,000+ customers (up from ~750 customers in May 2022), including Dapper Labs, Square, Commonwealth Bank, Barclays, Rarible, Gemini, and BNY Mellon.
  • From May 2021 to May 2022, Chainalysis increased its customer base by 75%, its private sector clients by 2x, and financial services clients by 3x, and increased the number of customers with $100 million ARR by 75% to 150.
  • As of May 2022, Chainalysis reported a net promoter score (NPS) of 80+.
Arbitrum Logo

Arbitrum

Scaling Ethereum.

Headquarters

New York, New York

Industry

Cryptocurrency

Founded

2018

Funding

$123.7 million

Valuation

Undisclosed

Traction

  • As of May 2023, Arbitrum has $6.15 billion in total value locked, 66.45% rollup market share, 5.8 million total users, and $1.29 billion in ETH gas saved.
Aave Logo

Aave

Open source liquidity protocol.

Headquarters

London, England, United Kingdom

Industry

Cryptocurrency

Founded

2017

Funding

$49 million

Valuation

Undisclosed

Traction

  • As of May 2023, Aave’s Discord community has 49,229 members.
  • As of May 2023, Aave’s community treasury has $109.2 million.
  • As of May 2023, Aave has $7.835 trillion of liquidity locked across 5 networks and 11 markets.
Xclaim Logo

Xclaim

Bankruptcy claims trading marketplace.

Headquarters

Los Angeles, California

Industry

Cryptocurrency

Founded

2018

Funding

$18.4 million

Valuation

Undisclosed

Traction

  • As of June 2021, Xclaim reports more than 2 million creditors, claims of $3.5 trillion of unsecured debt, and $20 million in trading volume.
Meanwhile Logo

Meanwhile

Life insurance in Bitcoin.

Headquarters

Remote

Industry

Crypto

Founded

2022

Funding

$19 million

Valuation

$100 million

Traction

  • As of July 2023, Meanwhile is regulated by the Bermuda Monetary Authority and policies are available for US citizens.
Thirdweb Logo

Thirdweb

The complete web3 development framework.

Headquarters

San Francisco, California

Industry

Crypto

Founded

2021

Funding

$29.3 million

Valuation

$160 million

Traction

  • As of July 2023, Thirdweb has 100,000+ web3 developers on the platform (up from 55,000 in August 2022), 300,000+ contracts have been deployed (up from 150,000 in August 2022), and 5 million transactions have occurred on the platform.

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