In the second quarter of 2025, venture capital in the cryptocurrency sector saw a significant rebound, with companies raising $10.03 billion in the three months ending in June. This marks the strongest quarter since the first quarter of 2022, when funding reached $16.64 billion.
According to CryptoRank, June alone accounted for the largest share, attracting $5.14 billion, making it the highest monthly figure since January 2022. This surge followed several months of relative stagnation in capital deployment and funding rounds, indicating a renewed interest in cryptocurrencies.
Leading the charge is Strive Funds, an asset management company founded by American entrepreneur and politician Vivek Ramaswamy, which raised $750 million in May to establish a "generate alpha" strategy through Bitcoin (BTC) related purchases.
TwentyOneCapital raised $585 million in April, becoming the second-largest funding round of the quarter. Securitize ranked third in the second quarter of 2025, raising $400 million, with other notable funding rounds including Kalshi ($185 million), Auradine ($153 million), ZenMEV ($140 million), and Digital Asset ($135 million).
Coinbase Ventures completed 25 transactions between April and June, leading second-quarter activity and topping the list of active investors. Animoca Brands, Andreessen Horowitz (a16z), and Pantera Capital also ranked highly, driving a surge in transaction volume this quarter.
In June, Coinbase Ventures again topped the list with 10 investments, followed by Pantera Capital with 8, Galaxy with 5, and Paradigm (leading in the number of dominant investments) with 4 transactions. Other active companies included Animoca Brands, a16z, Cyber Fund, and GSR.
Funding activities were distributed across various sectors, with significant interest in blockchain infrastructure and DeFi. The CeFi, NFT, and GameFi categories also saw moderate activity, while funding for memecoins remained sluggish despite occasional peaks.
Over the past year, seed-stage deals accounted for the largest share of cryptocurrency funding rounds, making up 19.43% of a total of 1,673 transactions. Strategic rounds followed closely, accounting for 14.23%, reflecting ongoing interest in long-term ecosystems.
Pre-seed and merger and acquisition activities were also notable, accounting for 9.26% and 9.44%, respectively. Series A funding made up 6.34% of the total, while incubation deals accounted for only 3.35%, according to CryptoRank.
Last month, Galaxy Digital closed its first external venture fund, raising $175 million, exceeding its initial target of $150 million. The fund will focus on high-growth areas in cryptocurrency, such as stablecoins, tokenization, and payments, as well as the infrastructure supporting them.
In May, Amsterdam-based Theta Capital Management also raised over $175 million for its latest fund of funds, aimed at supporting early-stage blockchain startups.
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Original article: “Crypto fundraising surges to $10 billion in Q2, the highest level since early 2022”
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