The crypto space has been in an uneven state around the world, with Web3 startups flourishing in the Middle East and Asia, while North American crypto entrepreneurs face challenges under tough macroeconomic and regulatory conditions, according to Animoca Brands CEO Yat Siu.

Speaking with Cointelegraph at the Collision conference in Toronto, Siu highlighted the main differences between the environment for crypto businesses worldwide, stressing that it is not “as bad as it sounds.”

Venture capital activity across various quarters. Source: PitchBook