- This week saw raises for infrastructure and banking projects.
- Investors expect $25 billion in fundraising this year.
Eleven crypto companies raised $99.6 million this week, according to DefiLlama data.
That brings the total funding for crypto companies to nearly $22 billion so far in 2025, far outpacing 2024’s total by over $11 billion.
Investors from Galaxy Ventures and Codebase expect it to go even higher, with investors expected to plough over $25 billion into the industry in 2025.
Despite the October deleveraging, the crypto fundraising environment remains stable, according to Mike Giampapa, General Partner of Galaxy Ventures.
Giampapa told DL News that while the crash broke records for the dollar amount leveraged traders lost, the fundamental view of the market remains the same.
“We are more confident than ever that financial services are going to be re-platformed onto blockchains and view shocks like this as a way to bulletproof the onchain financial systems of tomorrow.”
Karl-Martin Ahrend, co-founder of crypto M&A firm Areta, also pointed out that dealmaking takes months in advance and is typically conducted with a longer time horizon than market resets.
“So far sentiment and momentum continues to be strong with no notable downturn in interest,” Ahrend told DL News.
This week’s slate of deals was evidence of that.
On Tuesday, Coinbase acquired token fundraising platform Echo for $375 million, signalling renewed interest in the controversial initial coin offering.
FalconX also acquired crypto asset manager 21Shares on Wednesday in a bid to deepen its footprint in the fast-growing exchange-traded fund (ETF) sector.
Likewise, the development team behind the decentralised lending giant, Aave, acquired stablecoin savings startup Stable Finance.
Here are some other notable raises tracked by DefiLlama:
Pave Bank, $39 million
Pave Bank has raised $39 million in a Series A round to scale its programmable banking platform for fiat and digital assets.
The funding was led by Accel, with participation from Wintermute, Quona Capital, Helios Digital Ventures, and Tether Investments.
Licensed in Georgia, Pave Bank offers businesses real-time management of both fiat and crypto, automated treasury operations, and streamlined settlement infrastructure. CEO Salim Dhanani said the bank “merges the stability and oversight of traditional finance with the speed and intelligence of digital assets.”
Sign, $26 million
Sign, a blockchain-based notary upstart targeting national governments as key clients, raised $26 million in a strategic round led by YZi Labs.
Backed by heavy hitters including venture capital firm Sequoia, stablecoin issuer Circle, and former Binance CEO Changpeng Zhao, Sign says it aims to provide governments with a “comprehensive digital asset infrastructure that preserves sovereign authority.”
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.