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 Crypto funding saw a large jump week-over-week, increasing 83% from $231 million to $424 million, and total deal count rose by 21% from 28 to 34. The large funding total was helped by a $250 million token sale completed by Avalanche ahead of its Avalanche9000 upgrade. Infrastructure dominated amongst categories, totaling $354 million across 21 deals, making up 84% of funding and 62% of total deal count. The...
WEEKLY RECAP Crypto funding rose 60% week-over-week from $145 million to $232 million, while total deal count decreased 7% from 29 to 27. CeFi was the leading funding category, totaling $145 million across three deals and comprising 63% of all funding. The total was bolstered by Public’s $130 Series D round, representing only the second Series D round in 2024. Although CeFi has been a laggard category all year, three...
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