According to incomplete statistics from Odaily Planet Daily, from May 26 to June 1, a total of 11 financing events in the blockchain field were disclosed globally, a decrease from 14 in the previous week, with a total financing amount of approximately $98.5 million.
In contrast, although the total financing amount disclosed last week reached $600 million, it mainly came from the adjustment of the credit line for Nasdaq-listed Bitcoin mining company Riot Platforms and Coinbase Credit, which was raised from $100 million to $200 million, representing an increase in credit rather than actual new financing.
The largest financing this week came from stablecoin infrastructure company Conduit, which completed a $36 million Series A financing; followed by Eternis AI, the parent company of the AI project Freysa AI deployed on the Base chain, which secured $30 million in financing.
The following are specific financing events (Note: 1. Sorted by disclosed amount; 2. Excludes fund raising and merger events; 3. * indicates traditional companies involved in blockchain):
Stablecoin company Conduit completes $36 million Series A financing, led by Dragonfly Capital
On May 28, stablecoin company Conduit announced the completion of a $36 million Series A financing, led by Dragonfly Capital, with participation from Sound Ventures, Altos Ventures, DCG, and Commerce Ventures. This Series A financing brings Conduit's total financing amount to $53 million, and the company did not disclose the valuation for this round. Conduit's goal is to provide global enterprises with faster, more economical, and more reliable cross-border payment services, using stablecoins (a type of cryptocurrency designed to maintain value parity with the US dollar) for international payment settlements, aiming to complete transactions faster than traditional banks.
Eternis, the company behind Freysa AI, raises $30 million
On May 29, Freysa AI, an AI project on the Base chain, announced that its parent company Eternis AI had completed $30 million in financing, with investors including Coinbase Ventures and Selini Capital. Coinbase Ventures confirmed a direct investment in Eternis, while Selini Capital participated in the FAI token round investment. According to information on North Island Ventures' official website, the institution is an investor in Eternis, and there is also a team from Echo involved in the FAI token subscription.
Donut Labs completes $7 million seed round financing, led by HackVC
On May 29, Donut Labs announced the completion of a $7 million seed round financing, led by Sequoia Capital, Bitkraft, and HackVC, with participation from Matrix Partners, Sky9 Ventures, Makers Fund, and SonicSVM. The new funds will be used to support the development of Donut, an executable crypto browser driven by AI agents, featuring a native cryptocurrency wallet and decentralized exchange integration, decentralized network access, and on-chain execution.
Solana ecosystem token issuance platform Cooking.City completes $7 million financing, led by Jump
On May 30, Solana ecosystem token issuance platform Cooking.City completed $7 million in financing, led by Jump, with participation from CMT Digital, Mirana, Bitscale Capital, and EVG. Cooking.City aims to reshape the token issuance mechanism, proposing a new sustainable, incentive-based, community-centered on-chain issuance model.
Decentralized computing network Acurast completes $5.4 million financing
On May 27, decentralized computing network Acurast successfully raised $5.4 million through community-led financing on the cryptocurrency launch platform CoinList, achieving a valuation of $90 million. The new funds are intended to strengthen the protocol, utilizing Trusted Execution Environments (TEE) and Hardware Security Modules (HSM) to ensure secure and scalable computing while maintaining confidentiality without trusting device owners, to meet the next generation of decentralized confidential computing needs in Web3, AI, and other fields.
Oncade completes $4 million financing, led by a16z crypto CSX
On May 29, Oncade announced the completion of $4 million in financing led by a16z crypto CSX, aimed at creating a community-driven game publishing platform to help game studios increase sales and user engagement through a pay-per-sale model.
On May 30, the Solana-based AI platform Assisterr announced the completion of $2.8 million in financing, with a valuation of $75 million, with participation from Google for Startups, Outlier Ventures, Web3.com, Echo.xyz, and Moonhill Capital.
Crypto wallet Dexari completes $2.3 million seed round financing, led by Lemniscap
On May 30, crypto wallet Dexari announced the completion of $2.3 million in seed round financing, led by Lemniscap and Prelude, with participation from a group of angel investors from the Hyperliquid ecosystem. Dexari is built on the decentralized trading protocol Hyperliquid, and the new funds will be used to accelerate the expansion of the development team and plan to launch more features in line with DeFi trends.
Smart crypto trading tool Alph.AI completes $2 million financing, led by Bitrue
On May 30, smart crypto trading tool Alph.AI announced the completion of $2 million in financing, led by Bitrue. The new funds are intended to promote the platform's AI capabilities to help users identify high-potential tokens early.
BlockSpaces completes $2 million strategic round financing, led by Axiom
On May 28, Bitcoin-native infrastructure BlockSpaces announced the completion of $2 million in strategic round financing, led by Axiom, with participation from Leadout Capital, Sand Harbor Capital, and Lisa Hough of Eberly Energy Ventures and Bob Burnett of Barefoot Mining. To date, the company's total financing amount has reached $10 million, and the new funds are intended to support the launch of its institutional Bitcoin-native collateral and risk management platform ARCC.
Revolving Games completes a new round of financing led by Pantera Capital
On May 31, Web3 video game publisher Revolving Games announced the completion of a new round of financing led by Pantera Capital, aimed at expanding its game publishing ecosystem based on the RCADE Network, with specific amounts undisclosed. The company plans to accelerate the release of "War of Nova," the "Hatchlings" series, and the new title "Skyborne: Phoenix Flight," which is set to launch a PC-exclusive beta test in the third quarter of 2025.
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