Compiled by: Luan Peng, RootData
According to incomplete statistics from RootData, between March 31 and April 6, 2025, there were a total of 12 public financing events in the blockchain and cryptocurrency industry, with a cumulative financing of approximately 54.65 million USD.
From the distribution of sectors, the projects that received financing are mainly concentrated in the infrastructure and AI sectors. Popular projects include the blockchain gaming platform Ultra, the AI infrastructure protocol Cambrian Network, the stablecoin blockchain startup Codex, and the Web3 startup Hana Network.
According to official news from Morph, the on-chain AI agency fund bAI Fund has received an investment of 1 million USD from Morph and Foresight Ventures.
(List of projects with financing greater than 5 million USD last week, data source:Rootdata）
I. Infrastructure
Blockchain gaming platform Ultra completes 12 million USD financing, NOIA Capital participates
The blockchain gaming platform Ultra announced the completion of a new round of financing totaling 12 million USD, with NOIA Capital, headquartered in Luxembourg, participating through its digital asset fund. Additionally, the company announced the appointment of former Circle Strategies partner Maxime van Steenberghe as Chief Operating Officer. The new funds will be used to support its blockchain-based game distribution platform similar to Stream, as well as to recruit talent, expand and upgrade the platform, and conduct strategic acquisitions.
On-chain AI agency fund bAI Fund receives 1 million USD investment from Morph and Foresight Ventures
According to official news from Morph, the on-chain AI agency fund bAI Fund has received an investment of 1 million USD from Morph and Foresight Ventures.
It is reported that bAI Fund operates in a Trusted Execution Environment (TEE) and integrates quantitative trading, investment, and marketing to create a diversified AI agency ecosystem. The fund helps creators independently issue AI agency tokens and promotes decentralized governance.
According to CoinDesk, the startup Hana Network, which focuses on developing hyper-casual finance with social network effects, announced the completion of 4 million USD in Builder round financing. Investors in this round include the well-known decentralized exchange SushiSwap, Alliance, and Orange DAO.
Hana Network was founded by Kohei Hanasaka in 2023. The team has long been committed to improving user onboarding experiences and launched a trustless deposit and withdrawal solution, Hana Gateway, in January this year. Based on the experience of Hana Gateway, the team is currently focused on developing hyper-casual financial products, emphasizing user-driven distribution through existing open social networks.
Hana Network's mainnet is planned to be launched in four major phases. Currently, the first phase has successfully gone live, launching the hyper-casual card game Hanafuda, where users can earn rewards. From the second to the fourth phases, the platform will gradually introduce more new experiences.
According to CoinDesk, Ambient has completed 7.2 million USD in seed round financing, with participation from a16z's crypto accelerator program, Delphi Digital, and Amber Group.
Ambient aims to combine artificial intelligence technology to provide fast, cheap, and open intelligent services. The project employs a proof-of-work mechanism similar to Bitcoin and operates similarly to the Solana network.
II. AI
According to official news, the AI infrastructure protocol Cambrian Network announced that it has completed 5.9 million USD in seed round financing, led by a16z Crypto Startup Accelerator (CSX), with participation from Blockchain Builders and angel investors in The Graph ecosystem.
Cambrian aims to build intelligent infrastructure for AI financial agents, empowering AI agents to make smarter market predictions and financial decisions by integrating on-chain and off-chain data. The project was founded by former members of The Graph and Semiotic Labs, and has now launched private testing with plans to release a testnet.
AI infrastructure platform Mahojin completes 5 million USD financing, a16z CSX and Maelstrom co-lead
AI infrastructure platform Mahojin announced the completion of 5 million USD in financing, co-led by a16z CSX and Maelstrom.
Mahojin aims to create a "GitHub" for AI model creators and dataset developers, enabling intellectual property tracking and compensating original contributors of models and datasets.
III. Social
MEET48 completes token round financing, Liang Xinjun, Hash Global, and Hashkey Capital lead
Focusing on the entertainment sector, the AI-Agent and AIUGC creator and fan economy community MEET48 announced the completion of token round financing, with a fully diluted valuation of 100 million USD. Liang Xinjun, co-founder of Fosun Group, Hash Global, and HashKey Capital led the round, with participation from Animoca Brands, Infinity Labs, Promontory, Oak Grove, and several Web3 individuals. The new funds will be used to support the development of its team and related AI products. The MEET48 ecosystem community will provide users with a one-click customization of autonomous interactive virtual idol AI Idol-Agent, enabling various functions such as chatting, live streaming, and virtual performances, while efficiently generating AI text, images, songs, and dance content using AIGC technology in the virtual music and dance vertical. Additionally, the community will offer AI-exclusive creation tools AIShowBOX, supporting 3D character customization, intelligent choreography, and other in-depth creation, assisting users in automated operations and global dissemination of Idol-Agent.
The MEET48 community's supporting MEME cultivation and launch platform MarsProtocol will launch on the BNB Chain, providing a tokenized trading platform for Meme creators and serving as a source of AI creators for the entire ecosystem community. Furthermore, the AI-AGENT social base MEET48 Metaverse, the AI-AGENT large-scale music and dance simulation game, and the AI-AGENT large-scale casual game will also be launched successively, all using the same governance token for community incentives.
IV. Others
Stablecoin blockchain startup Codex announced the completion of 15.8 million USD in seed round financing, led by Dragonfly Capital, with participation from Coinbase, Circle, Cumberland, Wintermute, and Selini Capital, among others. Dragonfly invested approximately 14 million USD in this round.
Backpack completes acquisition of FTX EU, launches user fund return process today
The globally compliant cryptocurrency trading platform Backpack announced the formal completion of its acquisition of FTX EU. Effective immediately, Backpack EU has officially launched the asset recovery and fund distribution process, providing former FTX EU users with clear and convenient fund return services to help them recover previously frozen fiat assets.
Following the completion of this acquisition, Backpack will reactivate the licenses held by FTX EU and will provide comprehensive cryptocurrency derivatives trading services across the European Union in the future.
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