DeFi Gaining Momentum
Weekly Recap
Crypto funding rose 59% week over week from $85 million to $135 million, while deal count held steady at 21 total deals. DeFi was the most funded category from both a fundraising and deal count perspective, raising $70 million across eight deals, including a $14 million strategic round completed by Ethena Labs and led by Dragonfly Capital. Ethena is striving to create a yield-bearing synthetic dollar by leveraging Ethereum staking and delta-neutral hedging. The funding round brought Ethena’s valuation to $300 million. Infrastructure was the second most funded category, totaling $46 million across eight deals, comprising approximately 34% of total funding and 38% of deal count. From a deal stage perspective, over 57% of deals failed to disclose the funding round type, leaving seed rounds as the most funded at $40 million across four deals.
Funding by Category
Funding by Deal Stage
Deal of the Week
Architect, a trading infrastructure founded by Brett Harrison, a former FTX executive, raised $12 million in an undisclosed round led by BlockTower and Tioga Capital. Other investors include Coinbase Ventures, CMT Digital, ParaFi Capital and others. The investment round brings Architect’s total funding to $17 million since launching in Jan...Reports you may have missed
WEEKLY RECAP Weekly funding fell by 34% from $126 million to $83 million, while deal count rose approximately 22% from 18 to 22. Infrastructure was the leading category, totaling $51 million across nine deals and comprising 61% of total funding. CeFi logged its second consecutive week of two deals, including Caliza’s $8.5 million investment round supporting its mission to provide cross-border remittances leveraging stablecoins. Web3 and Gaming deal flow has...
WEEKLY RECAP In the final week of Q2, crypto funding bounced back, rising 64% from $78 million to $128 million, while deal count rose modestly from 18 to 20. The funding total was dominated by Infrastructure, which comprised 88% of the total and also made up 55% of the total deal count. CeFi broke its streak of two weeks with no deal flow with a singular Series A round completed...
WEEKLY RECAP Private funding was suppressed as we enter the summer season, with total funding dropping 43% week-over-week to $66 million and deal count decreasing 52% to 15 deals. Infrastructure still took the top spot from a funding perspective, totaling $31 million across three deals, including Sonic, our Deal of the Week. DeFi tallied the most deals (6) and had the second most funding across categories ($24m). CeFi had its...