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According to RootData statistics, a total of 98 venture capital projects were announced by Crypto VC in February 2025, up 14% from the previous month (86 projects in January 2025) and down 35.1% from the same period last year (151projects in February 2024). Note: since not all financing is announced in the same month, the above statistics may increase in the future. The number of events in each section of the track in January this year is as follows:
Among them, CeFi accounted for about 7.1% of Magi DeFi accounted for about 31.6% of Magi NFT GameFi accounted for about 10.2% of Magi L1GameFi accounted for about 7.1% of Magi L2 accounted for about 7.1% of Magi accounted for about 12.2% of Magi accounted for about 10.2%.
Total financing in February 2025 was $951 million, an increase of 14.4 per cent month-on-month ($831 million in January 2025) and 24.3 per cent year-on-year ($765 million in February 2024). Among them, the top 10 rounds are as follows:
Figure has partnered with Sixth Street to form a new joint venture that promises to invest $200m and can be recycled into future Figure production to increase the liquidity of private credit. The partnership will create a liquidity market through securitisation of Figure loans, presale of bonds and purchase of loan assets.
Ethena raised $100m through private equity ENA in December last year, with investors including Franklin Templeton and F-Prime Capital, a venture capital firm owned by Fidelity. It is reported that Ethena will use the funds to launch similar token for traditional financial institutions.
Bitwise, an encrypted asset manager, raised $70 million in equity financing, led by encrypted venture capital firm Electric Capital. The financing also attracted the participation of MassMutual, Highland Capital, MIT Investment Management Company, Haun Ventures and ParaFi Capital. Bitwise plans to use the money to strengthen its balance sheet, expand investment capabilities and services, and increase the size of its team.
Gift card startup Raise has completed $63 million in strategic financing to boost cryptocurrency expansion. The round was led by Haun Ventures, with Paper Ventures, Selini Capital, GSR and Solana co-founder Raj Gokal participating. Raise plans to simplify the payment system by stabilizing the currency to host retailer funds. Raise also restructured the board with the addition of Marco Santori and Parity Technologies CEO Bjorn Wagner, former chief legal officers of Kraken, and George Ruan, co-founder of Honey, and Matt Maloney, founder of GrubHub.
Blockaid, a security platform on the Israeli chain, completed a $5000 B round of financing, led by Ribbit Capital, with Google Ventures and existing investors Variant and Cyberstarts participating. Blockaid has raised $83 million since its inception, after raising $27 million in round A financing.
Banyan Capital invested $30 million in HashKey at a pre-investment valuation of more than $1 billion, giving it a post-investment valuation of close to $1.5 billion. According to the report, the investment has a pre-investment valuation of more than $1 billion. A spokesman for HashKey said the post-investment valuation was close to $1.5 billion.
The bitcoin Ordinals project Taproot Wizards raised $30 million in its first Post-Seed round. This round of financing is led by Standard Crypto, with the participation of Cyberfund, Collider Ventures and other institutions. The new money will be used to promote the development of the OP_CAT ecosystem to enhance the smart contract capabilities of Bitcoin. Taproot Wizards was founded in 2023, and in February 2023, the minting of Taproot Wizard # 0001 created a block of 4MB, the largest chunk and transaction of bitcoin at the time. In November 2023, Taproot Wizards completed $7.5 million in financing.
Stable currency company Plasma announced the completion of the first round of financing of $24 million, led by Framework Ventures, with Bitfinex, well-known investors Peter Thiel and Tether CEO Paolo Ardoino participating. Plasma is building a blockchain designed for stable currencies, especially Tether, which is scheduled to be launched in the coming months. The blockchain focuses on zero-cost Tether transactions and improves transaction speed and cost-effectiveness. Although there is no fee for a single transaction, Plasma plans to make money by supporting other services such as Curve, Ethena and Aave.
Modular project Cygnus announced the completion of the $20 million Pre-Seed round of financing, Manifold, OKX Ventures, Mirana Ventures, Optimism Retro Funding and other investment.
The decentralized AI computing protocol Prime Intellect announced the completion of US $15 million financing, led by Founders Fund, and participated by Menlo Ventures and a number of industry leaders, including Andrej Karpathy (EurekaAI, Tesla, OpenAI), Clem Delangue (Hugging Face), Dylan Patel (SemiAnalysis), Tri Dao (Together.AI), Balaji Srinivasan (Network School), Emad Mostaque (Stability AI), Jake Medwell (8VC co-founder), Brendan McCord (Cosmos Institute) and Sandeep Nailwal (Polygon). The financing brings the total financing of Prime Intellect to more than $20 million.
