Crypto Research

WEEKLY RECAP Crypto funding seems to be on vacation as total funding fell on a weekly basis to $36 million compared to $157 million last week. Deal count followed suit, falling to a measly 7 deals, bringing total funding and deal count to their lowest weekly levels since the first week of 2023. Of the five deals with disclosed funding amounts, all fell within the $0-10 million range. Infrastructure was...

Crypto funding fell on a weekly basis to $153 million compared to $219 million last week. Notably, 10 of the 15 deals announced this week secured funding within the $0-$10 million range. This is significant because it continues a trend of crypto VCs increasingly allocating capital towards early-stage funding rounds and being more selective in later stages. Our team highlighted this trend in our Q2 2023 Crypto Fundraising Report. Infrastructure-related...

Funding has risen from $116m last week to $207m this week. Most funds raised came from the Infrastructure and Web3 & NFTs verticals, both of which saw larger deals being closed compared to last week. The largest raise of the year so far among Web3 &NFTs closed this week, with Futureverse raising $54m in a Series A to build a platform to enable the creation of interoperable content and applications....

KEY SLIDES FROM THIS REPORT... QUARTERLY FUNDING (SLIDE 4) YTD VENTURE FUNDING (SLIDE 5) DEAL VERTICAL SUMMARY (SLIDE 7) DEAL STAGE SUMMARY (SLIDE 8)

Funding declined slightly this week from $105M last week to $82M this week. Interestingly, the vast majority of funding this week came from the Web3 & NFTs vertical, which saw funding increase from just $3M last week to $56M this week, with five of the fourteen deals this week. Infrastructure had the second highest funding at $25M, while other sectors such as DeFi and CeFi received no funding. Most deals...

Crypto funding rose on a weekly basis to $103 million compared to $81 million last week. Metaverse & Gaming and CeFi were the two strongest categories this week, accounting for 47% and 32% of total funding, respectively. This week’s average deal size was $7.9 million, exceeding the previous two weeks and ending the month on a strong note. Metaverse & Gaming also led the week in deal count, with six...

Funding decreased this week to the lowest levels all month, declining from $142M to $96M. While funding decreased, the total number of deals remained the same at 22. Web3 & NFTs had the most funding this week, with six deals totaling $34M, including digital asset wallet Galaxy Finance, the largest deal of the week at $30M. Infrastructure had the second most funding at $31M. Each other sector lagged behind, with...

Crypto funding dropped sharply this week, falling to $129 million from $373 million. To no surprise, Infrastructure deals once again garnered the largest amount of funding, equating to $78 million. Web3 & NFTs were the second largest category by funding ($35 million) and tied Infrastructure with the highest deal count (7). The average deal size across all categories was $8.1 million - a considerable decline from last week’s $25 million...

Total funding doubled week over week, rising to $373m compared to $180m raised last week. Most of the funds raised came from one Mining deal, Volcano Energy. The El Salvador-based sustainable Bitcoin mining company secured $1B in commitments and has received its first $250M in funding, with participation from USDT issuer Tether. The government of El Salvador will have a significant role in planning and execution of the project and...

Crypto funding maintained last week’s levels, rising slightly to $179 million from $171 million. The general trend of Infrastructure and Seed deals being the most common continued. Additionally, Infrastructure deals made up 76% of the total fundraising amount. Interestingly, this was the second week in a row for CeFi and Mining not tallying any deals, as both categories have lost their luster throughout the ongoing bear market.  Deal counts were...

Funding declined from $238M last week to $164M this week. Most deals (75%) were in the infrastructure vertical, which increased from $104M to $124M this week, with six total deals. The second most funded sector was Metaverse & Gaming, which rose to $23M in funding this week from no funding last week. Every other sector lagged—Web3 & NFTs had $15M in funding, DeFi had $2M, and CeFi and Mining had...