CeFi and Infrastructure Remain Strong
Funding saw a notable increase this week, rising to $503 million from $73 million last week. CeFi and Infrastructure made up the large majority of capital raised, representing 60% and 31%, respectively. The largest deal this week was a $300 million Series C deal raised by Amber Group. Amber Group is a digital asset trading platform, and they raised capital in order to increase the company’s health following the collapse of FTX.
Seed Round deals were the most popular deal type this week, representing 37% of all deals. There was one acquisition this week as Bitcoin Group acquired the German bank, Bankhaus von der Heydt. Bankhaus von der Heydt has a German banking license and currently offers custody and tokenization of digital assets. Bitcoin Group plans to leverage the acquisition to become a one-stop shop for banking, securities, and crypto trading services.
Deal of The Week
Crypto insurance platform, Evertas, raised $14M in funding in a Series A round led by Polychain Capital with participation from CMT Digital Ventures, Morgan Creek, and Balaji Srinivasan, among others. This round brings the company's funding to a total of $19.8M. Evertas aims to bring quality insurance to crypto by applying traditional insurance principles to the new risks and opportun...Reports you may have missed
WEEKLY RECAP Crypto funding was relatively unchanged week-over-week, with a 4% decrease to $138 million, while deal count saw a larger decrease, falling 29% to 25 deals. Infrastructure deals comprised 73% of total funding and Web3 and Gaming combined for 26%, with remaining categories making up the last 1%. As highlighted in our Q1 Funding Report, Series A funding has been a standout deal stage this year, and this week...
WEEKLY RECAP Crypto funding rose 92% from $213 million to $410 million, one of the highest weekly totals in months. The majority of funding came from two deals: Monad’s $225 million round (DotW) and Auradine’s $80 million Series B round, the first mining deal of 2024. Auradine’s Teraflux family of Bitcoin ASIC miners has set new performance and energy efficiency benchmarks and has shown robust field performance, which has helped...
WEEKLY RECAP Funding fell 27% from $282 million last week to $206 million this week across 34 deals. Triple-digit funding seems to be the new normal, as there has been a notable uptick in the private market in recent weeks. Despite the overall increase in activity, there has been a lack of CeFi-related projects in recent weeks, with just one deal in each of the last two weeks. Agora was the singular...
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