Crypto fundraising is experiencing a resurgence, driven by late-stage deals and established platforms. Is this the start of a new era for crypto funding?
The crypto fundraising scene is heating up! After a slow start, the first half of 2025 is poised to end on a high note, with successful closings and a renewed sense of optimism. Let's dive into what's driving this resurgence and what it means for the future of crypto.
VC Funding Reaches New Heights
Crypto VC funding is back to levels not seen since 2022. June alone saw over $4.49B raised across 103 rounds, potentially exceeding even that number as more deals are finalized. While we're not quite at the peak of the 2021 Web3 boom ($6.88B in November!), the trend is definitely pointing upwards.
The Shift to Late-Stage Deals
There's a clear shift happening in the type of deals being funded. Forget the days of simply launching a project and selling tokens to exchanges. Investors are now focusing on established platforms with proven use cases and signs of growth. Late-stage financing and large-scale private rounds are the name of the game. Projects like EigenCloud, which raised $70M in a late-stage round, exemplify this trend.
Who's Leading the Charge?
Coinbase Ventures and Pantera Capital are leading the pack, with nine and six deals respectively. While the majority of deals are happening internationally, the US is still a major player, accounting for the largest funding amounts ($1.79B in June). Singapore-based projects also saw significant investment, raising $1.09B.
Token Sales Make a Comeback
Don't count out token sales just yet! They're making a strong comeback, with token sales raising consistently over $4B monthly. In June, 174 sales raised $4.79B, surpassing even the large VC rounds. Platforms like Binance Wallet and PancakeSwap are driving this trend, offering projects access to a large pool of potential buyers. Projects launching on Binance Wallet saw average gains of 483%, while PancakeSwap projects achieved 228.5%.
Established Use Cases Drive Investment
VC deals are no longer driven by hype, but by tangible metrics. Transactions, fees, and liquidity are key indicators of a project's potential. Investors are looking for platforms with established use cases and real-world traction. This is a welcome change from the speculative frenzy of previous cycles.
My Take: A More Mature Crypto Market
The shift towards late-stage deals and established platforms signals a maturing crypto market. Investors are becoming more discerning, focusing on projects with real potential and sustainable business models. This is good news for the long-term health of the industry. I think this also signals that even though the market is maturing, there are still many opportunities for small projects to get funding via token sales if they utilize platforms like Binance Wallet and Pancakeswap.
The Bottom Line
Crypto fundraising is back, baby! With a focus on established platforms, late-stage deals, and the resurgence of token sales, the industry is looking healthier than ever. So buckle up, folks, because the second half of 2025 is shaping up to be an exciting ride!
