Crypto Research

Funding has remained consistent the past few weeks at about ~$230M per week. Infrastructure made up the bulk of the deals this week, with $80M in funding and 12 total deals. Infrastructure funding was led by Monad Labs, which raised $19M from Dragonfly Capital. Monad Labs is the team supporting the Monad blockchain, a blockchain looking to optimize execution and process 10,000 transactions per second. CeFi and Web3 & NFTS...

This week’s funding totals were on par with last week, declining slightly from $231 million to $226 million. Funding amounts were concentrated in the Infrastructure and CeFi verticals, raising $104 million and $64 million, respectively. SALT Lending closed a $64 million Series A deal, representing the largest deal this week and comprising the entire amount of CeFi capital raised. SALT Lending is a crypto lending platform that paused its business following the...

After an impressive $749 million was raised last week, funding totals came back down to earth to $228 million. Zero-carbon Bitcoin mining company TeraWulf completed a $32 million public equity sale, representing the largest deal of the week. Additionally, mining company Pow. re completed both a Series A and Strategic fundraising round this week, valuing the company at $150 million. The uptick in mining deals over the last two weeks...

For the first time in over a year, we’ve seen mining dominate crypto funding, comprising $625M of this week’s $746M of funding. There were two mining deals, Core Scientific and Blockstream, which received $500M and $125M, respectively. This heavy funding in mining caused total funding this week to skyrocket from last week, increasing nearly 4x from $194M to $746M (one of the most funded weeks in months). Aside from mining,...

Despite a cold start in the first week of 2023, funding has ramped back up, increasing from just $7M in the first week of 2023 to $65M and $186M in the last two weeks, respectively. The majority of this funding came from Web3 and NFTs, which accounted for roughly $80M each week. There were also four Web3 and NFT related venture funds the past two weeks, totaling a massive $1.85B...

EXECUTIVE SUMMARY Click Here for the full report.Since late 2021, crypto markets have struggled in the face of a challenging macroeconomic background highlighted by rampant inflation and geopolitical conflict. Asset price drawdowns were exacerbated by a violent unwind of unhealthy leverage in the space, which revealed outright fraudulent behavior among some of the industry's most prominent figures. Despite these headwinds, crypto VC funding remained strong in 2022 and set a...

Crypto funding is off to a slow start in 2023, with only five deals this week and a total of ~$7M in funding (two deals did not report the funding amount, so the actual number is a bit higher). It’s worth noting that this is in large part due to a lack of deal activity around the holidays – last week’s funding was also low at just $1M of funding....

Funding dropped considerably this week, falling to $26m from $503 million last week. Infrastructure deals led funding with 42% of the capital raised. All the fundraising this week was in the seed round stage. The largest deal raised was a $7.8 million seed round by Revel, an NFT minting and trading marketplace. While NFT volume has fallen off a cliff since the high levels of activity seen late last year,...

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...

Funding saw a sharp decrease this week as we progress through the final month of the year. This week's fundraising total was $57 million compared to $198 million last week. DeFi was the bright spot in the lackluster week, representing 37% of all fundraising. A trend is emerging around decentralized trading platforms. Perennial, a cash-settled derivatives protocol, and Panoptic, a perpetual options protocol, represented two of the three DeFi deals...

Today we are covering both this week and last week due to Thanksgiving last Thursday. Not surprisingly, funding was low last week during the holiday and amid the FTX insolvency. Funding decreased from $280M the week of 11/18 to just $41M last week. However, we’re seeing funding starting to bounce back this week – increasing from $41M to $196M. Like we’ve seen most of the year, much of this funding...