- Investments in crypto startups on pace to reach $25 billion.
- This week saw raises for stablecoin issuers and exchange companies.
- Industry ventures have already raised $2 billion more than in 2024.
Nine crypto startups raised over $869 million this week, according to DefiLlama data.
That brings the total funding for crypto companies to just shy of $16 billion so far in 2025, outpacing 2024’s total by about $6 billion.
Twenty-two industry players have already raised just under $1 billion in September alone.
PitchBook predicts that the industry will raise $18 billion this year. Investors from Galaxy Ventures and Codebase expect it to go even higher and that investors will plough over $25 billion into the industry in 2025.
Here are three of the biggest raises this week.
Figure, $787.5 million
Figure Technology, a New York-based stablecoin issuer, raised $787.5 million in a US initial public offering on Wednesday, selling 31.5 million shares at $25 each and valuing the firm at $5.29 billion.
The offering exceeded its initial price range and share count due to strong demand. Founded in 2018, Figure uses blockchain to expedite home equity loans, claiming approval in 10 days versus the 42-day industry average.
The IPO reflects growing investor appetite for crypto firms, with legendary investor Stanley Druckenmiller’s Duquesne Family Office eyeing up to $50 million in shares.
Gemini, $50 million
Gemini Space Station, the crypto exchange founded by Cameron and Tyler Winklevoss, plans to list on Nasdaq this week, potentially raising up to $317 million.
Ahead of a potential listing, Nasdaq will invest $50 million via a private placement and partner with Gemini to offer custody and staking services to institutional clients, according to sources speaking with Reuters.
Gemini, which holds $21 billion in assets and has processed $285 billion in trades, will be the third publicly listed crypto exchange after Coinbase and Bullish. The company reported a $282.5 million loss on $68.6 million revenue in the first half of 2025.
Inversion $26.5 million
Inversion Labs, an investment firm focused on crypto-driven business transformation, has raised $26.5 million in a seed round led by Dragonfly Capital, valuing the company at $100 million.
Other institutional investors include VanEck, ParaFi Capital, Faction Ventures and Wintermute Ventures.
Inversion aims to acquire traditional businesses in sectors like financial services and upgrade them with blockchain infrastructure to boost efficiency and crypto adoption.
You’re reading the latest installment of The Weekly Raise, our column covering fundraising deals across the crypto and DeFi spaces, powered by DefiLlama.
Lance Datskoluo is DL News’ Europe-based markets correspondent. Got a tip? Email at lance@dlnews.com.
