Highlights
According to incomplete statistics from PANews, there were 23 financing events in the global blockchain sector last week (9.22-9.28), with a total funding scale exceeding $889 million. Additionally, the total financing amount for publicly listed companies' crypto asset reserves exceeded $471 million, as summarized below:
- DeFi reported 4 financing events, including Solana ecosystem perpetual contract DEX BULK, which completed $8 million in seed round financing;
- Web3+AI sector reported 3 financing events, including SuperImage, which completed $5 million in strategic financing led by Genesis Block Capital;
- Infrastructure & Tools sector reported 7 financing events, including Zerohash, which completed $104 million in Series D financing, led by Interactive Brokers, with participation from Morgan Stanley;
- Centralized Finance sector reported 6 financing events, including Kraken, which completed $500 million in financing, reaching a valuation of $15 billion;
- Other Web3 applications reported 2 financing events, including on-chain music platform Coop Records, which completed $4.5 million in financing, with participation from 1kx and others;
- Additionally, 3 publicly listed companies completed financing to establish crypto treasuries, including AgriFORCE Growing Systems, which plans to raise $550 million to transform into an AVAX treasury strategy and has already secured $300 million in PIPE financing.
DeFi
Solana ecosystem perpetual contract DEX BULK completes $8 million seed round financing
Solana ecosystem perpetual contract DEX BULK has completed $8 million in seed round financing, led by 6th Man Ventures and Robot Ventures, with participation from Big Brain Holdings, Wintermute, and Solana co-founder Anatoly Yakovenko. BULK aims to address issues such as surging priority fees and network congestion by directly integrating the execution layer into Solana's validator stack. BULK is expected to launch its testnet in the coming weeks and plans to officially launch its mainnet in the fourth quarter.
Blockchain-based micro-lending company Divine has completed $6.6 million in seed round financing, led by Paradigm, with participation from Nascent. Divine launched its automated low-collateral lending system, Credit, based on stablecoins in December 2024, and has issued 175,000 loans to over 100,000 independent borrowers worldwide.
Social trading app Share completes $5 million financing, with participation from Coinbase Ventures
Scott Gray, founder of Genie, launched the social trading app Share and completed $5 million in financing, with investors including Coinbase Ventures, Collab+Currency, and Palm Tree Crypto. Share supports three major public chains: Solana, Base, and Ethereum, displaying real-time on-chain trading dynamics, allowing users to track wallets, view market trends, and trade tokens. Each wallet automatically generates a Share profile, and users can link multiple wallets and Farcaster accounts. Share will compete with similar products like Fomo and the social features of giants like Robinhood and Coinbase.
Institutional-grade liquidity vault startup RockSolid has completed $2.8 million in Pre-Seed round financing, led by Castle Island Ventures, with participation from Blockchain Builders Fund, GSR, Kindred Ventures, Rocket Pool, and Stanford Blockchain Accelerator. The company simultaneously launched the first official rETH vault integrated into the Rocket Pool frontend. The new funds will be used to expand technology, operations, and marketing teams. RockSolid's first product is a white-label one-click rETH vault, directly embedded in the Rocket Pool staking application interface, providing customized DeFi strategy access for holders. Nic Carter, founding partner of Castle Island Ventures, emphasized that the solution aims to lower the barriers for institutions and communities to participate in DeFi. Currently, Rocket Pool is the third-largest decentralized staking protocol, with over $2.7 billion in locked value.
Decentralized automated market maker SegaSwap completes seed round financing, valued at $10 million
Decentralized automated market maker SegaSwap, built on Solana and Sonic SVM, has completed seed round financing led by Sonic SVM and 10K Ventures, valued at $10 million. SegaSwap is a decentralized protocol designed to support fast trading, permissionless pool creation, and innovative yield opportunities.
NFT
NFT project Akio announced the completion of $5 million in seed round financing, led by Pantera Capital, with participation from AMD Ventures, NVentures, Hasbro Ventures, NetEase Ventures, SBI Holdings, Susquehanna Crypto, LD Capital, MZ Web3 Fund, and B Dash Ventures.
Subsequently, Pantera Capital general partner Franklin Bi stated that Pantera did not invest in the NFT project Akio and has confirmed the same with several other investors mentioned in the tweet. Franklin Bi indicated that he has been blocked by the project team and cannot respond directly under the original tweet.
AI
Web3+AI project SuperImage completes $5 million strategic financing, led by Genesis Block Capital
The world's first decentralized AI image generation and editing platform, SuperImage, announced the completion of $5 million in strategic financing, led by Genesis Block Capital. This round of financing will promote product upgrades and global expansion, accelerating the adoption of decentralized AI image applications. Additionally, SuperImage's Telegram platform has launched a text-to-image feature, providing global users with a convenient AI creation experience. SuperImage was founded in June 2023 and operates on a decentralized GPU network, aggregating idle computing power worldwide, allowing users to participate in mining and earn $SIC token rewards through home or professional GPUs. The platform supports three major models: Hidream, Flux Dev, and Sana, providing low-cost, high-efficiency text-to-image solutions, with image generation costs only one-tenth of centralized services.
Bullish announces $4 million investment in USD.AI
Digital asset trading platform Bullish (NYSE: BLSH) announced a $4 million investment in USD.AI, marking its first investment since its IPO in August. USD.AI provides an on-chain platform for AI infrastructure financing and has secured $250 million in private test deposits, supporting AI companies in expanding computing power through a hardware mortgage loan model.
Crypto development platform Crossmint receives strategic investment from Circle Ventures
Crypto development platform Crossmint announced it has received a strategic investment from Circle Ventures (the venture capital arm of Circle). Crossmint will collaborate with Circle to promote USDC-based stablecoin payment solutions, covering scenarios such as wallets, API integration, fund flow, and AI agent payments.
Former Stripe Crypto and AI Partnerships Head Louis Amira and former Stripe Crypto Engineering Head David Noël-Romas have completed $19.2 million in financing for their new startup Circuit & Chisel, aimed at developing the AI agent payment protocol ATXP. In addition to their Stripe background (and funding support), Circuit & Chisel has also received investments from Primary Venture Partners, ParaFi, and Coinbase Ventures. The ATXP protocol is designed as the "HTTP protocol for AI agent payments," aiming to address the lack of standardized communication protocols among current AI agents. Amira stated that if ATXP is successful, it will revolutionize the microtransaction space. Under this scheme, agents can autonomously acquire information and are authorized to pay small fees, such as scraping information from private LinkedIn profiles or accessing paid articles from Fortune magazine, with these platforms also entitled to charge small fees.
(This round of financing is not included in this financing weekly report statistics)
Infrastructure & Tools
Cryptocurrency infrastructure startup Zerohash has completed $104 million in Series D financing, led by Interactive Brokers, with participation from financial institutions including Morgan Stanley and SoFi, as well as strategic investors including Zerohash's clients, with Apollo's fund also participating in this round. Founder and CEO Edward Woodford revealed that the company's valuation has reached $1 billion. Zerohash, founded in 2017, provides capability support for banks and fintech companies, enabling them to launch blockchain-based products in three core areas: cryptocurrency trading, stablecoins, and tokenization. Interactive Brokers is already using Zerohash's cryptocurrency trading and custody services and will collaborate with the company to launch stablecoin products. While Woodford was reluctant to comment on whether Morgan Stanley and SoFi are also clients, he hinted that relevant news will be announced soon.
Stablecoin Startup Bastion Completes $14.6 Million New Round of Financing, Led by Coinbase Ventures
Stablecoin startup Bastion has completed a new round of financing totaling $14.6 million, led by Coinbase Ventures, with other investors including the venture capital arms of Japanese tech giant Sony, South Korean smartphone manufacturer Samsung, the cryptocurrency division of venture capital firm Andreessen Horowitz (a16z), and cryptocurrency venture capital firm Hashed. Bastion is a white-label stablecoin issuer, allowing companies to launch their own branded stablecoins without hiring lawyers for regulatory approval or software developers to write code, making it easier to introduce their own stablecoins. Bastion's differentiated advantage lies in its full suite of stablecoin services, which include cryptocurrency wallets for clients to hold tokens and channels to exchange stablecoins for cash in 70 countries, including the United States.
Raiku Completes $13.5 Million Financing to Enable "Predictable" Transactions on Solana
Web3 infrastructure startup Raiku announced it has completed $13.5 million in seed and Pre-Seed round financing, with investors including Pantera Capital, Jump Crypto, and Lightspeed Faction. Raiku claims its tools can achieve "predictable" and "guaranteed" execution of transactions by coordinating block space with Solana validators, addressing the issue of transaction uncertainty under high load on Solana. The product is already live on the testnet, with the mainnet planned for launch in 2026.
Cloudburst Completes $7 Million Series A Financing to Expand Off-Chain Crypto Intelligence Platform
Cloudburst Technologies announced it has completed $7 million in Series A financing, which will be used to develop its off-chain crypto intelligence platform. This round of financing was led by Borderless Capital, and since its establishment in 2022, the company has raised a total of $11 million. Additionally, Strategic Cyber Ventures, CoinFund, Coinbase Ventures, Bloccelerate VC, and In-Q-Tel provided further support.
The company focuses on analyzing data sources such as chat rooms and regulatory filings to monitor fraud networks, illegal actors, scams, and social sentiment trends. The company states that its tools are designed to provide real-time intelligence and predictive insights for regulators, law enforcement, exchanges, investors, and other market participants. The company's platform collects millions of off-chain data points, covering Telegram groups, niche forums, regulatory filings, and news sources, applying proprietary AI models to identify emerging threats and patterns.
Crypto computing development company Belfort announced it has completed $6 million in seed round financing, led by Vsquared Ventures, with participation from Anagram, Protocol VC, Inovia Capital, Syndicate One, Prototype, Credibly Neutral, and notable individuals including Google Chief Scientist Jeff Dean and Naval Ravikant. The company supports processing data in a crypto format, applicable in fields such as blockchain, finance, healthcare, and government operations.
Digital Asset Infrastructure Provider Stablecorp Completes $5 Million CAD Strategic Financing
Digital asset infrastructure provider Stablecorp announced it has completed $5 million CAD (approximately $3.6 million) in strategic round financing, led by FTP Ventures, with participation from existing shareholders and new investors. The company previously received investment from Coinbase Ventures, and the new funds will be used to expand its related digital currency infrastructure. Stablecorp is a Canadian fintech company dedicated to building bank-grade blockchain infrastructure. The company's flagship product, QCAD, is a digital currency fully backed 1:1 by Canadian dollar reserves.
The USDT-powered Layer 1 blockchain network Stable announced that users will be able to use PayPal-issued stablecoin PYUSD for commercial and financial transactions on the Stable chain. Additionally, PayPal's global venture capital arm, PayPal Ventures, also participated in Stable's latest round of financing. Stable will integrate PYUSD into the Stable chain, leveraging the recent integration achieved by LayerZero to programmatically enable interoperability between blockchains. Stable will also explore providing cross-chain compatibility and deposit/withdrawal functions for PYUSD, unlocking new application scenarios for the stablecoin across different blockchain ecosystems. Stable and PayPal have also agreed to explore potential new product development around payment and stablecoin usability in the coming months.
Others
Consumer Entertainment:
On-Chain Music Platform Coop Records Completes $4.5 Million Financing, with Participation from 1kx
On-chain music platform Coop Records announced it has completed two rounds of financing, totaling $4.5 million. This round of financing was led by 1kx and Nascent, with participation from 1confirmation and CB Ventures through the Base ecosystem fund. The funds will be used to advance the development of the Coop Records music launch platform.
Prediction Market Startup Melee Completes $3.5 Million Financing, with Participation from Variant
Prediction market startup Melee has completed $3.5 million in financing, with investments from Variant, DBA, and angel investors, to launch its innovative "viral prediction market" platform. The company draws on successful examples like Polymarket, allowing users to create prediction markets on any topic. Its core mechanism achieves decentralized pricing by rewarding early accurate traders, distinguishing it from traditional models that rely on professional market makers. The platform particularly focuses on the creator economy, supporting influencers to set up markets around fan interests and profit from them, such as streamers initiating prediction markets on game release dates.
Crypto Asset Reserves: (not included in this financing weekly report statistics)
AgriFORCE Growing Systems (NASDAQ: AGRI) has announced its transformation into an AVAX treasury strategy, becoming the first Nasdaq-listed company focused on Avalanche blockchain technology. The company has unveiled a $550 million financing strategy aimed at accumulating over $700 million in AVAX tokens. The company's strategy includes a $300 million PIPE (Private Investment in Public Equity) and plans to refinance an additional $250 million through equity-linked instruments. The strategic advisory board includes industry leaders such as Anthony Scaramucci from SkyBridge Capital and Brett Tejpaul from Coinbase Institutional. The plan has received support from over 50 institutional and crypto-native investors, including ParaFi, Galaxy Digital, and Digital Currency Group.
Global provider of fitness equipment and health solutions Fitell Corporation (NASDAQ: FTEL) has announced that it has secured up to $100 million in financing to support the launch of its Solana financial strategy, marking the introduction of Australia's first Solana-based digital asset financial strategy. Fitell has begun dual listing on the Australian Securities Exchange (ASX). Following the initial launch of the Solana treasury, the company plans to rebrand as "Solana Australia Corporation."
AlphaTON Capital Completes $71 Million Financing and Acquires First Batch of TON
AlphaTON Capital has announced the completion of approximately $71 million in financing, including $36.2 million in private placements and $35 million in loans (from BitGo), and has acquired its first batch of approximately $30 million in TON tokens, becoming one of the major holders of TON globally. The company plans to increase its TON holdings to $100 million by Q4 2025 and will participate in TON network validation, staking, and ecosystem project investments.
Centralized Finance
Kraken Completes $500 Million Financing, Valuation Reaches $15 Billion
Cryptocurrency exchange Kraken has completed $500 million in financing this month, with a latest valuation of $15 billion. This financing did not have a lead investor, with terms set by Kraken itself, and investors include Tribe Capital and its co-CEO Arjun Sethi. Kraken acquired NinjaTrader for $1.5 billion this year, adding 2 million users, and this financing prepares Kraken for an IPO, planned for 2026. Kraken primarily serves professional and institutional clients and has recently launched products like xStocks to promote the integration of traditional finance and crypto assets.
Blockchain Payment Company Fnality Completes $136 Million Series C Financing, Led by WisdomTree
London-based blockchain payment company Fnality has completed $136 million in Series C financing, led by WisdomTree, with participation from Bank of America, Citibank, KBC Group, Temasek, and Tradeweb. Existing investors include Santander Bank, Barclays Bank, BNP Paribas, DTCC, Euroclear, Goldman Sachs, ING, Nasdaq, State Street, and UBS. Fnality aims to build a regulated payment system based on central bank digital currencies using distributed ledger technology to address the slow, costly, and lengthy settlement times of traditional wholesale payment systems. The company plans to use this round of financing to expand its pound system into the dollar and euro markets, targeting the cross-border payment market valued at over $120 billion.
Stablecoin Payment Company RedotPay Completes $47 Million Financing, Led by Coinbase Ventures
Stablecoin payment company RedotPay has completed $47 million in strategic financing, surpassing a valuation of $1 billion, officially becoming a fintech unicorn. This round of financing was led by Coinbase Ventures, with continued support from Galaxy Ventures and Vertex Ventures, along with an undisclosed global tech entrepreneur. Founded in April 2023, RedotPay offers stablecoin payment cards, multi-currency wallets, and global payment services. To date, the company has over 5 million users and a total payment transaction volume of $10 billion. The global payment service launched in June has made progress in underdeveloped regions such as Latin America, allowing cryptocurrency to be directly transferred to local bank accounts or e-wallets.
Singapore startup Synthesys (formerly Equitize) has announced the completion of $11 million in seed and strategic round financing to build tokenized securities infrastructure. This round of financing was led by Mark Pui. Synthesys, founded in 2023, has developed a global liquidity network that aggregates over 40 different primary and secondary distribution channels. Its platform automates compliance across jurisdictions and provides a universal liquidity layer for tokenized securities.
Crypto New Bank Shield Completes $5 Million Seed Round Financing, Led by Giant Ventures
Cryptocurrency new bank Shield announced on Monday that it has completed $5 million in seed round financing led by Giant Ventures. Other participants in this round of financing include Chris Dixon's a16z crypto startup accelerator, Factor Capital, and strategic angel investors Coinbase and Bank of America. The company stated that it has raised a total of $7 million to date. The company was founded in 2022 and plans to pivot to the payments sector in 2024. It allows importers and exporters to use U.S. cryptocurrency for cross-border transactions while providing compliance review services. This new funding will be used to seek more banking partnerships, although the company already has two major banking partners but declined to disclose their names. Additionally, the company will continue to refine its compliance products.
Japanese company Digital Securities Co. Ltd., which operates the digital securities platform "renga," announced that it has completed 300 million yen (approximately $2.0067 million) in the second round of Series A financing. The company's cumulative financing since its establishment has reached 1.2 billion yen (approximately $8.02 million). The latest financing participants include SBI Ventures Three LLC and Mitsubishi UFJ Capital No. 10 Investment Limited Partnership. As a "digital securities market platform," the company provides services for diversified investment products that can be purchased in small amounts, such as real estate funds and solar energy funds. Its platform is available for use by both individual and institutional investors.
Coinbase Credit Card Partner Cardless Completes $60 Million Financing, Led by Spark Capital
Startup Cardless, focused on co-branded credit cards, has completed $60 million in financing, led by Spark Capital, with participation from Activant Capital, Industry Ventures, and Pear VC. The new funding will be used to enhance features and collaborate with well-known brand clients on projects, part of which will be used for partnerships with Coinbase Global Inc. and Bilt Rewards. Notably, there is a strategic partnership between Cardless and Coinbase, with Coinbase being its first partner. In June of this year, Cardless launched an embedded credit card platform, which Coinbase used to develop and issue the "Coinbase One Card."
(This round of financing is not included in this financing weekly report statistics)
Venture Capital Funds
Crypto Venture Capital Firm Archetype Raises $100 Million for Its Third Fund
Crypto venture capital firm Archetype has announced the raising of $100 million for its third fund, which will focus on supporting early seed round financing for blockchain companies. Archetype previously raised its first fund of $55 million in 2021 and then raised a second fund of $155 million in 2022, during the peak of the last cryptocurrency bull market. Although Archetype's third fund is smaller, at only $100 million, Egan stated that choosing the right supporters (i.e., limited partners) was a well-considered decision, with only one new LP being brought in.
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