USDWeekly Fundraising Recap: $4.49B Pours into Crypto Amid Market Revival
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Crypto Fundraising Hits Three-Year High in H1 2025, Surpassing $4.49 Billion in June
Crypto fundraising has surged to a three-year peak in H1 2025, with June alone witnessing 103 deals that raised $4.49 billion, continuing the trend of successful months. The recent shift in funding focuses on large-scale private rounds instead of traditional token sales, although those have seen a resurgence, particularly on Binance Wallet and PancakeSwap. The U.S. led in deal value, raising over $1.79 billion, while international locations capitalized on 70 undisclosed rounds. Notable projects include EigenCloud, which raised $70 million. Overall, total VC funding surpassed $4 billion monthly for four consecutive months, indicating robust market recovery.
Stablecoin Ventures Surge Past 2021 Levels as Institutional Interest Grows
The stablecoin sector has experienced a remarkable resurgence in venture capital, surpassing 2021 levels, aided by regulatory clarity and Circle’s successful IPO. In Q3 and Q4 of 2024, the sector saw record-high quarterly deal counts with 43 and 42 deals, respectively, compared to just 87 deals throughout all of 2021. As of Q1 2025, stablecoin projects represented 7.5% of all venture capital deals. This growth has attracted institutional investors, bolstered by the GENIUS Act's regulatory framework, which enhances investor confidence and reduces perceived risks, paving the way for substantial capital influx into the stablecoin ecosystem.
Polymarket Approaches $200 Million Funding, Valuation Hits $1 Billion Amid Trading Resurgence
Polymarket is close to finalizing a $200 million funding round that would elevate its valuation to $1 billion. This surge in interest follows a significant trading boom during the late 2024 U.S. elections, despite a dip in activity afterward. Since March 2025, Polymarket has recorded three consecutive months of increased trading volumes. This funding round builds on previous raises, including a $45 million Series B in May 2024 and a $25 million Series A led by General Catalyst. Additionally, Polymarket, based in New York City, has been expanding internationally after ceasing U.S. operations due to regulatory issues.
Kalshi Raises $185 Million in Series C at $2 Billion Valuation, Led by Paradigm
Kalshi has raised $185 million in a Series C funding round led by Paradigm, reaching a valuation of $2 billion. This round includes participation from Multicoin Capital, Neo, and Sequoia, bringing Kalshi's total funding to $415 million. The company has seen staggering growth, with trading volume increasing by 100x, users by 10x, and active markets by 5x over the past year. Notably, Kalshi, founded in 2019, has been enabled to offer contracts on electoral outcomes following a significant legal win, positioning itself as a regulated betting market in the U.S., unlike its main competitor, Polymarket.
Galaxy Digital Raises $175M for First External Venture Fund Targeting Early-Stage Crypto Startups
Galaxy Digital has launched its first venture fund, Galaxy Ventures Fund I, LP, successfully raising over $175 million, surpassing its initial $150 million target due to high investor interest in early-stage crypto ventures. The fund focuses on early-stage startups developing infrastructure and applications for the on-chain economy, emphasizing sectors like stablecoins and digital payment systems. This marks a significant shift as Galaxy Ventures now accepts external capital, having previously invested solely from its balance sheet since 2018. The team, led by Will Nuelle and Mike Giampapa, aims to engage with the next wave of blockchain innovation.
Digital Asset Secures $135M from Goldman Sachs, Citadel for Canton Network Expansion
Canton Network's parent company, Digital Asset, raised $135 million in a funding round led by DRW and Tradeweb, with participation from notable investors like Goldman Sachs, Citadel, and BNP Paribas. This funding will enhance the integration of real-world assets on the blockchain, including items such as bonds and mortgages. Digital Asset CEO Yuval Rooz emphasized the milestone as a validation of a privacy-enabled public blockchain for institutional adoption. Additionally, Fiserv announced the FIUSD, a bank-friendly stablecoin leveraging technology from Paxos and Circle, aiming to facilitate the use of stablecoins and tokenized deposits in a compliance-oriented framework.
Frachtis Launches $20 Million Fund to Invest in Pre-Seed and Seed Blockchain-AI Startups
Frachtis, a newly launched crypto-focused venture fund, has raised $20 million to invest in pre-seed and seed blockchain startups. The firm, led by former Chorus One CIO Xavier Meegan and other alumni, aims to explore the intersection of blockchain and artificial intelligence, emphasizing decentralized infrastructure, middleware, and consumer applications. Frachtis has already made eight investments, including projects like Hyve and Turtle. Their limited partners include Chorus One and several prominent blockchain firms. Meegan highlights their operational experience in crypto infrastructure as a competitive edge in sourcing and supporting early-stage investments.
Paradigm Invests $15 Million in GTE, Promising the 'World's Fastest' Decentralized Exchange
Paradigm has invested $15 million in a Series A round for Global Token Exchange (GTE), a decentralized exchange (DEX) designed to rival the speed of centralized exchanges like Binance and Coinbase. GTE utilizes a central limit order book (CLOB) while remaining non-custodial, composable, and permissionless. Built on the EVM-compatible Layer 1 MegaETH, it targets retail traders and liquidity providers who seek a low-latency trading experience. GTE aims to address DEX challenges such as high latency and poor user experience. Its testnet has attracted approximately 700,000 users, highlighting a strong initial interest and user engagement.
Zama Secures $57M Series B, Valuation Exceeds $1B Ahead of Confidential Blockchain Protocol Launch
Zama, a privacy-focused infrastructure company, raised $57 million in Series B funding, elevating its valuation to over $1 billion. This funding round, co-led by Pantera Capital and Blockchange, comes ahead of the July 1 launch of its Confidential Blockchain Protocol testnet. Zama aims to introduce a cross-chain confidentiality layer enabling confidential smart contracts, built on Fully Homomorphic Encryption (FHE) technology. The company’s encryption stack is already licensed by numerous blockchain and AI firms, positioning Zama as a significant player in the growing demand for on-chain privacy solutions as blockchain applications expand into enterprise, DeFi, and AI.
Huaxing Capital Allocates $100 Million for Web3 and Cryptocurrency Investments
Huaxing Capital Holdings has approved a strategic budget of $100 million to invest in Web3 and cryptocurrency assets over the next two years, marking a significant expansion into the digital asset space. The investment will focus on stablecoins, real-world asset (RWA) tokens, and the broader crypto ecosystem. This initiative reflects institutional confidence in the sector and aims to enhance Huaxing’s presence in digital finance. Market analysts expect that this substantial capital allocation will have ripple effects on the cryptocurrency sector, particularly in governance tokens and infrastructure investments, driving increased adoption across financial systems.
This article has been refined and enhanced by ChatGPT.
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