Compiled by: Luan Peng, RootData
According to incomplete statistics from RootData, during the period from March 17 to March 23, 2025, there were a total of 26 public financing events in the blockchain and cryptocurrency industry, with a cumulative financing amount of approximately $1.821 billion.
From the distribution of sectors, the projects that received financing were mainly concentrated in the infrastructure and DeFi sectors. Popular projects include Singapore's digital asset infrastructure provider BetterX, stablecoin protocol Level, AI startup Pluralis Research, and cryptocurrency prediction platform Yeet.
Kraken announced the acquisition of the U.S. futures trading platform NinjaTrader for $1.5 billion. Digital asset futures and derivatives services can now be offered in the U.S. as NinjaTrader has obtained CFTC registration. Additionally, Kraken's regulatory licenses in the UK, EU, and Australia will support NinjaTrader's expansion in these regions.
(List of projects with financing greater than $5 million last week, data source: Rootdata)
1. Infrastructure
According to CrowFund Insider, Singapore's digital asset infrastructure provider BetterX has completed a Pre-A round financing of 2.3 million SGD (approximately $1.7 million). This round of financing will be used to support its business expansion in Asia, the Middle East, and the U.S.
New investors include Grand Prix Capital, Aument Capital, and notable angel investors such as Sabrina Tachdjian from HBAR Foundation and Riaz Mehta from Crypto Knights. Existing investors Aura Group and Tibra co-founder Kinsey Cotton also continued to invest.
BetterX provides institutional-grade infrastructure for tokenization, trading, and digital asset portfolio management for financial institutions. The company has achieved profitability in the Australian market, and its platform supports the issuance and management of tokenized financial products, digital asset trading infrastructure, and custody solutions.
The company stated that the new financing will be used to accelerate growth strategies in key markets, establish strategic partnerships, and enhance its technology stack to meet the growing regulatory requirements and customer demands.
Hibit announces completion of new $5 million financing
Hibit announced the completion of a new $5 million financing round, with investors including Bochsler Finance, Nvidia, Distributed Shenbo, Waterdrop Capital, Web3 Venture, Betterverse DAO, Hitters, and several well-known traditional entrepreneurs. The funds will be used to further improve the Hibit ecosystem, including Layer2 infrastructure, Hibit DEX, cross-chain interoperability technology, and deep layout of the AI Agent economy.
As an independent Layer2 that seamlessly connects all chains, Hibit currently covers multiple public chains and their ecosystem projects, including TON, Kaspa, Solana, ETH, BTC, BNB, and ICP, providing the safest cross-chain solutions (not cross-chain bridges). Additionally, Hibit DEX, as the first core landing product of the Hibit Layer2 ecosystem, integrates the advantages of CEX and DEX, achieving a smooth trading experience at the level of millions of TPS, and supports permissionless token listing and deep integration of the AI agent economy with the Meme community. The Hibit team comes from MIT and has experience in establishing the world's top ten centralized exchanges from 2013 to 2017.
The success of this financing further solidifies Hibit's technological position in decentralized trading, cross-chain interoperability, and the AI economy, making it a trusted interactive infrastructure and payment infrastructure for AI agents in the future world. Hibit will soon launch an airdrop and node sales plan and will complete its TGE within the year.
According to Fortune, the core entity of the blockchain storage protocol Walrus, the Walrus Foundation, announced the completion of $140 million in financing, primarily from Standard Crypto. Other notable investment institutions participating in this round include Andreessen Horowitz (a16z) crypto division, Electric Capital, and Franklin Templeton's digital asset division. This financing values the total supply of Walrus protocol's cryptocurrency (token symbol: $WAL) at $2 billion.
Adam Goldberg, managing director and co-founder of Standard Crypto, stated, "Previous on-chain storage attempts have faced challenges in scalability, flexibility, and security." The Walrus protocol was developed by Mysten Labs, which built the Sui blockchain. Evan Cheng, co-founder and CEO of Mysten Labs, revealed to Fortune that this $140 million financing was completed in just the past three weeks, "Market demand is very strong." This is the first round of financing for Walrus conducted by Mysten Labs.
According to Fortune, AI startup Pluralis Research announced the completion of $7.6 million in financing. This round was led by venture capital firms CoinFund and Union Square Ventures, with participation from Topology, Variant, Eden Block, and Bodhi Ventures, as well as notable cryptocurrency investors Balaji Srinivasan and HuggingFace co-founder Clem Delangue.
Alexander Long, founder and CEO of Pluralis, told Fortune that this round of financing is equity financing, accompanied by warrants for future cryptocurrency (if Pluralis decides to issue cryptocurrency). Currently, Pluralis has not launched a product, and investors are mainly optimistic about Long and his team. "The reason I raised this round of funding is that 'this team is the best team to solve this problem,'" Long stated, "No one else is trying. We believe we can do it."
Unlike other companies attempting to train AI through decentralized server networks, Long's approach is to investigate whether it is possible to train parts of a model on a single computer rather than the entire model. "If you can make the problem precise enough, you usually find a solution immediately," he said.
Cryptocurrency wallet infrastructure Privy completes $15 million financing, Ribbit Capital leads
According to Fortune, cryptocurrency wallet infrastructure Privy announced the completion of $15 million in financing, led by Ribbit Capital, with participation from Sequoia Capital, Paradigm, and Coinbase. Valuation information has not been disclosed, and the company's total financing to date has reached $40 million.
According to Web3 asset data platform RootData, Privy is an infrastructure platform providing authentication and key management tools for Web3 applications, helping developers build a seamless multi-chain network user experience through embedded wallets, account abstraction, and cross-chain interoperability features.
Blockdaemon acquires DeFi connectivity service provider Expand Network
According to CoinDesk, leading cryptocurrency infrastructure provider Blockdaemon has acquired expand.network, a company that provides a single API connectivity service for DeFi (decentralized finance) aimed at helping large financial institutions seamlessly access on-chain transactions. Although the specific acquisition price was not disclosed, Blockdaemon stated that the deal is worth tens of millions of dollars. Expand provides API access services for DeFi, supporting connections to over 170 endpoints, including decentralized exchanges (DEX), cross-chain bridges, lending protocols, and oracles.
Konstantin Richter, founder and CEO of Blockdaemon, stated in an interview, "DeFi will significantly reduce the cost for banks and institutions to operate financial infrastructure, which is also an area where institutions will benefit in the long term. Although this field is still in its early stages and there is much work to be done in regulatory clarity, adoption rates, and decentralization, now is the right time to accelerate this specific vertical in our product suite."
Cryptocurrency wallet provider Utila completes $18 million Series A financing, Nyca Partners leads
According to CoinDesk, digital asset operation platform Utila has completed a $18 million Series A financing round to expand its multi-party computation (MPC) wallet solutions to meet the growing institutional digital asset management demand. This round was led by Nyca Partners, with participation from Wing VC, NFX, Haymaker Ventures, Gaingels, and Cerca Partners. Since its official launch last year, the startup's total venture capital has reached approximately $30 million.
Utila co-founder and CEO Bentzi Rabi stated in an interview that as payment providers, fintech companies, and emerging banks increasingly use digital assets (including stablecoins and tokenized assets) in their operations, the company's platform has experienced a new wave of demand for digital asset infrastructure. This financing will help Utila expand globally and enhance product features, including advanced gas management, API integration, and smart contract support.
Decentralized identity management platform Via Science announced the completion of $28 million in Series B financing, led by Bosch Ventures, with participation from BMW i Ventures, MassMutual Ventures, Sentinel Global, and Westly Group.
It is reported that Via Science's decentralized, zero-trust architecture has been tested by the U.S. Department of Defense, and unlike any other Web3 technology, it combines end-to-end quantum-resistant encryption to ensure access and privacy for authorized parties.
2. DeFi
According to CoinDesk, Peregrine Exploration, the company behind the stablecoin protocol Level, announced the completion of a new financing round of $2.6 million, led by Dragonfly Capital, with participation from Polychain, Flowdesk, Echo, Native Crypto, Feisty Collective by Path, and angel investors Sam Kazemian from Frax and Albert Chon from Injective. This latest round of financing follows the $3.4 million raised in August, bringing its total financing to $6 million.
The Solana ecosystem gold tokenization project ORO announced the completion of $1.5 million in Pre-Seed financing, led by 468 Capital, with participation from investors such as Fasset, Dead King Ventures, and several angel investors. ORO aims to expand the generation of yield-bearing real-world assets through gold tokenization on Solana.
Delphi Ventures invests in Ekubo Protocol
Delphi Ventures announced on X that it has invested in Ekubo Protocol, which was originally a DEX in the Starknet ecosystem and has now been deployed to the Ethereum mainnet through its v2 version.
As a result of this positive news, EKUBO has surpassed 7 USDT, with a 24-hour increase of 24.1%.
3. AI
Gamebeast rebrands to Ephyra and completes $10.5 million Series A financing, led by BECKER Ventures
According to Fortune, AI startup Pluralis Research announced the completion of $7.6 million in financing. This round was led by venture capital firms CoinFund and Union Square Ventures, with participation from Topology, Variant, Eden Block, and Bodhi Ventures, as well as notable cryptocurrency investors Balaji Srinivasan and HuggingFace co-founder Clem Delangue.
Alexander Long, founder and CEO of Pluralis, told Fortune that this round of financing is equity financing, accompanied by warrants for future cryptocurrency (if Pluralis decides to issue cryptocurrency). Currently, Pluralis has not launched a product, and investors are mainly optimistic about Long and his team. "The reason I raised this round of funding is that 'this team is the best team to solve this problem,'" Long stated, "No one else is trying. We believe we can do it."
Unlike other companies attempting to train AI through decentralized server networks, Long's approach is to investigate whether it is possible to train parts of a model on a single computer rather than the entire model. "If you can make the problem precise enough, you usually find a solution immediately," he said.
4. Gaming
Cryptocurrency prediction platform Yeet completes $7.75 million financing, led by Dragonfly
Cryptocurrency prediction platform Yeet has completed $7.75 million in financing, led by Dragonfly, with participation from angel investors including Pudgy Penguins CEO Luca Netz and LayerZero CEO Bryan Pellegrino.
Yeet was co-founded by well-known figures in the crypto space Michael Anderson (alias Mando), anonymous trader Keyboard Monkey, and professional poker player Ben Lamb, targeting "the prediction market for crypto users," aimed at high-risk tolerant crypto-native groups.
According to official news, the on-chain game Kamigotchi, built on the Interwoven Stack based on Initia, announced the completion of $1.3 million in seed round financing, with participation from angel investors such as Seed Club VC, TempleDAO, and DCF God.
According to Web3 asset data platform RootData, Kamigotchi is a Web3 game project that allows players to hatch, raise, and customize digital pets. Players enhance their pets' abilities through tasks and interactive activities, experiencing a rich virtual pet-raising process. The game integrates blockchain elements, giving players true ownership of their pets.
5. Others
Real estate tokenization company Manifest completes $2.5 million financing, led by VanEck Ventures
According to Blockworks, real estate tokenization company Manifest has completed $2.5 million in financing, led by VanEck Ventures, with participation from Compound, Lattice Fund, and SALT.
It is reported that Manifest is a company dedicated to bringing U.S. private equity real estate onto the blockchain, aiming to combine real estate with decentralized finance (DeFi).
Cryptocurrency broker LTP acquires Spanish crypto company TCB, specific amount undisclosed
Cryptocurrency broker LTP has acquired the Spanish crypto company Turing Capital Brokerage (TCB), with the specific amount undisclosed. This strategic acquisition allows LTP to expand its business into the European market while providing fully compliant digital asset brokerage services under the MiCA framework.
Turing Capital is a digital asset investment company, and TCB is its subsidiary, founded by serial entrepreneur and cryptocurrency investor Jorge Schnura and Javier Garay.
According to CoinDesk, uranium tokenization solution Uranium Digital has completed $6.1 million in seed round financing, led by Framework Ventures.
It is reported that this financing will accelerate Uranium Digital's establishment of a uranium spot trading platform using crypto infrastructure as the backend, promoting the development of a "financialized" uranium spot market.
According to Web3 asset data platform RootData, Uranium Digital is a company that tokenizes uranium ore to facilitate trading in this highly regulated metal in underfunded markets.
Kraken announces acquisition of NinjaTrader for $1.5 billion
Kraken has announced the acquisition of the U.S. futures trading platform NinjaTrader for $1.5 billion. Digital asset futures and derivatives services can now be offered in the U.S. as NinjaTrader has obtained CFTC registration. Additionally, Kraken's regulatory licenses in the UK, EU, and Australia will support NinjaTrader's expansion in these regions.
Stablecoin company Stable Sea completes $3.5 million financing, led by Kindred Ventures
According to PR Newswire, stablecoin company Stable Sea announced the completion of a $3.5 million financing round, led by Kindred Ventures, with participation from Ludlow Ventures, DFS Lab, The Venture Dept., and The Fintech Fund.
It is reported that the funds will be used to further realize Stable Sea's mission of providing efficient, cost-effective, and compliant stablecoin circulation solutions.
Crypto development platform Crossmint completes $23.6 million financing, led by Ribbit Capital
According to Fortune, crypto development platform Crossmint has completed $23.6 million in financing, covering seed, Series A, and strategic financing, led by Ribbit Capital, with participation from Franklin Templeton, Nyca, First Round, Lightspeed Faction, and others.
Crossmint provides API tools that help developers easily integrate crypto features without needing a deep understanding of blockchain technology. Currently, its clients include Adidas, Red Bull, Coinbase, and 40,000 other businesses and developers. Its stablecoin API and AI bot payment features are particularly popular, with a 1,100% increase in subscriptions expected in 2024. Crossmint plans to further expand into the traditional finance and tech enterprise market, differentiating itself from competitors like Alchemy.
London-based digital asset high-frequency trading company ABEX has announced the completion of $6 million in financing, led by MMC Ventures. The new funds are intended for launching derivatives trading and algorithmic execution solutions to improve trading execution efficiency in centralized and decentralized financial venues.
The company is registered with the UK's Financial Conduct Authority (FCA), allowing it to engage in cryptocurrency trading activities.
According to official news, the Web3 community-driven gaming ecosystem Slingshot DAO has completed $16 million in financing, with investors including Dragonfly Capital, Animoca Brands, Digital Currency Group (DCG), Sfermion, Standard Crypto, Sanctor Capital, Collab+Currency, Alphabit, and other well-known Web3 institutions.
Additionally, Slingshot DAO revealed that the SLING token is set to launch soon and hinted at the upcoming start of trading.
According to Web3 asset data platform RootData, SlingShot helps coordinate community members to transform pure ideas into creativity, which in turn transforms into real experiences. Community members use the SlingShot application interface to submit ideas for new and exciting games and experiences. They vote on their favorite game ideas displayed on the leaderboard. Rewards are offered for their participation (submitting ideas and voting). Members can also build—talented individuals, small teams, and studios receive support from the SlingShot DAO Treasury to develop winning ideas.
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