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(Bloomberg) -- Venture capitalists have been under fresh scrutiny for their role hyping up the crypto industry during the criminal trial of FTX co-founder Sam Bankman-Fried, but new data shows that those investors have pulled back sharply from the industry they once helped build and promote.Most Read from BloombergIsrael Latest: Over 1,100 Dead; US Sends Warships to RegionIsrael Latest: Army Reserves Called Up, Chevron Shuts Gas FieldOil Surges as Israel Conflict Reignites Middle East Volatility

'We aren’t seeing the big deals anymore,' PitchBook analyst Robert Le said. 'That’s one of the drivers of the decline – deals are smaller.'

Sam Bankman-Fried, the former CEO of FTX, stands trial in New York on Tuesday, charged with seven counts of fraud and conspiracy stemming from the exchange's abrupt collapse in November 2022. He has pleaded not guilty.

The global cryptocurrency market remains badly scarred following the tumultuous collapse of crypto exchange FTX and other big players last year, with crypto prices, volumes and venture capital...

The new project from ChatGPT founder Sam Altman aims to create a blockchain-based "identity and financial network". Its native coin WLD has kept a steady price between $2 and $2.50 since its launch on July 24, thus far spared the "pump-and-dump" trajectory of many new crypto tokens.