Author | Wu Says Blockchain

According to statistics from RootData, in July 2025, there were a total of 61 venture capital projects publicly disclosed by Crypto VC, a decrease of 7.6% month-on-month (66 projects in June 2025) and a decrease of 46.5% year-on-year (114 projects in July 2024). The number of small financing rounds continues to decline. Note: Since not all financing is disclosed in the same month, the above statistics may increase in the future. The number of projects in various sectors is as follows:

Among them, CeFi accounts for about 26.2%, DeFi for about 13.1%, NFT/GameFi for about 13.1%, L1/L2 for about 4.9%, RWA/DePIN for about 6.6%, Tool/Wallet for about 11.5%, and AI for about 19.7%.

The total financing amount in July 2025 was $5.361 billion, setting a historical high, an increase of 88.4% month-on-month (from $2.846 billion in June 2025) and an increase of 426.6% year-on-year (from $1.018 billion in July 2024). The top 10 rounds by amount are as follows:

Strategy (MSTR) raised $2.521 billion through its fourth-tier preferred stock product "Stretch (STRC)", with a net gain of about $2.474 billion after deducting issuance costs, which has all been used to purchase 21,021 BTC at an average price of $117,256 per coin. After the transaction, Strategy's BTC holdings increased to 628,791 coins, with a market value of about $74 billion. On August 1, Strategy co-founder Michael Saylor announced plans to issue another $4.2 billion in preferred stock to purchase BTC.

MARA Holdings has completed a $950 million issuance of 0.00% convertible bonds, maturing in 2032. The bonds were privately placed to institutional investors and include an oversubscription option of up to $200 million. The company expects to use the remaining funds to purchase more BTC and for general corporate purposes, including acquisitions and asset expansion. This financing is also used to repurchase some convertible bonds maturing in 2026.

Pump.fun issued 125 billion PUMP tokens, accounting for 12.5% of the total supply, which sold out in less than 12 minutes. This sale raised $500 million, with funds allocated between on-chain trading and major exchanges such as Kraken, KuCoin, and Bybit.

Mill City Ventures III completed a $450 million private financing round and has initiated its SUI asset reserve strategy, currently acquiring 76,271,187 SUI through an OTC agreement with the Sui Foundation and physical contributions, with an average cost of $3.6389. Participants in this round of financing include institutions such as Big Brain Holdings, Galaxy Digital, Pantera Capital, Electric Capital, and GSR.

Upexi (NASDAQ: UPXI) has reached a stock financing agreement of up to $500 million with A.G.P. to accelerate its Solana treasury strategy. The financing terms include zero commitment fees, with Upexi deciding the issuance pace, and the funds will be used for general corporate purposes and to expand its SOL holdings. Upexi has recently increased its treasury to 1.9 million SOL.

Public company Satsuma Technology PLC (Tao Alpha PLC) has completed a second round of private financing for convertible bonds, raising significantly more than the originally planned minimum of £100 million. Satsuma stated that this financing will be used to expand its business and strengthen its BTC adoption and decentralized AI strategy, with the related convertible bond shares to be applied for listing on the London main market after conversion.

MEI Pharma (NASDAQ: MEIP) completed a $100 million financing round, planning to use the funds to purchase LTC as a financial reserve asset. Reports indicate that this move makes MEI the first company listed on a national exchange to hold LTC. LTC founder Charlie Lee has joined the MEI board, and digital asset firm GSR has been hired as a financial management advisor. This financing issued approximately 29.24 million shares at $3.42 per share, with participants including the LTC Foundation and several investment institutions.

The UK cloud mining platform TWL Miner successfully completed a Series B financing round, raising $95 million to support the integration of artificial intelligence technology with cloud mining operations.

Gamesquare Holdings, Inc. (NASDAQ: GAME) has completed a $70 million underwritten public offering, selling 46.7 million shares at $1.50 each. According to the announcement, the funds raised are intended to support the company's ETH accumulation strategy developed in collaboration with the crypto-native asset management firm Dialectic, with a significant portion of the funds allocated to increasing its ETH holdings.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。