Highlights of This Issue
According to incomplete statistics from PANews, there were 13 financing events in the global blockchain sector last week (11.3-11.9), with a total funding scale exceeding $808 million. Additionally, the total financing amount for listed companies' crypto asset reserves exceeded $705 million. The overview is as follows:
- DeFi announced 5 financing events, with Accountable completing a $7.5 million financing round led by Pantera Capital;
- The Web3+AI sector announced 1 financing event, with the Web3+AI browser project Donut Labs completing a $15 million seed round, with participation from BITKRAFT;
- The Infrastructure & Tools sector announced 6 financing events, including crypto infrastructure company Commonware completing a $25 million financing round, led by the Stripe-backed startup Tempo;
- The Centralized Finance sector announced 1 financing event, with Standard Money, the developer of the BNB Chain ecosystem stablecoin USDsd, completing an $8 million strategic financing round;
- Additionally, 2 listed companies completed financing for crypto treasury strategies, with Nasdaq-listed shipping company OceanPal completing a $120 million PIPE;
DeFi
Bitcoin lending platform Lava announced that it has raised an additional $200 million to build Lava's Bitcoin financial tool suite. This funding comes from global capital partners, including venture capital and debt financing, with angel investors Anthony Pompliano and Eric Jackson joining this round of financing.
Cryptocurrency trading app Fomo completes $17 million Series A financing, led by Benchmark
Cryptocurrency trading app Fomo completed a $17 million Series A financing round, led by Benchmark, bringing the total financing amount to $19 million. The project attracted 140 industry leaders as angel investors through a unique strategy, including Polygon Labs CEO Marc Boiron, Solana co-founder Raj Gokal, and former Coinbase CTO and angel investor Balaji Srinivasan. The Fomo app launched in May this year, enabling fast account opening and trading through Apple Pay integration, supporting cross-chain trading of millions of crypto assets, charging a 0.5% transaction fee while waiving gas fees, and featuring built-in social functions that allow users to track others' trading strategies.
Peer-to-peer Bitcoin trading protocol Rift raises $8 million from Paradigm
Peer-to-peer Bitcoin trading protocol Rift announced it has raised $8 million from Paradigm to bring native Bitcoin trading to Ethereum and other platforms.
Perpetual DEX aggregator Liquid completes $7.6 million seed round financing, led by Paradigm
Decentralized perpetual contract aggregator Liquid completed a $7.6 million seed round financing, led by Paradigm, with participation from General Catalyst and several angel investors in the crypto and tech sectors. Liquid integrates platforms like Hyperliquid, Lighter, and Ostium to provide a one-stop solution for non-custodial trading, yield, risk control, and analysis functions, founded by former Two Sigma AI head Franklyn Wang. The platform has facilitated over $500 million in trading volume.
Soneium ecosystem liquidity center Kyo Finance completes $5 million Series A financing, led by Castrum Istanbul and others
Soneium ecosystem liquidity center Kyo Finance announced it has completed a $5 million Series A financing round, with a valuation of $100 million, led by Castrum Istanbul, TBV, and BZB Capital. The core goal of the protocol remains to establish a single liquidity layer to eliminate chain boundaries and complexities in decentralized finance (DeFi).
AI
Web3+AI browser project Donut Labs completed a $15 million seed round financing, with investors including BITKRAFT, Makers Fund, Sky9 Capital, Altos Ventures, and Hack VC, as well as participants from the Solana, Sui, and Monad ecosystems. The project plans to embed autonomous trading agents into the browser, allowing users to perform on-chain trading analysis even while offline.
The waiting list for the Donut browser has accumulated over 160,000 users, and the company plans to use this funding to develop a profitable smart browser that can integrate real-time market intelligence and execute automated trading. The Donut browser aims to change the way users interact with the financial internet by embedding autonomous trading agents directly into the browsing experience. These agents can analyze the market, calculate risks, and execute on-chain trades, even when users are offline.
Infrastructure & Tools
Ripple announces $500 million strategic investment, company valuation reaches $40 billion
Ripple announced it has received a $500 million strategic investment led by institutional investors including Fortress Investment Group funds, Citadel Securities funds, Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace, with the company's valuation reaching $40 billion.
Payment blockchain Tempo, jointly launched by Stripe and Paradigm, completed its first strategic investment, leading the $25 million financing for crypto infrastructure company Commonware. As part of the agreement, this Stripe-backed project will collaborate with Commonware to develop faster methods for processing blockchain payments. The founder of Commonware revealed that this round of financing significantly increased its valuation from the $63 million seed round. Founded in 2024, this profitable company has only 7 employees and has already acquired 4 clients through open-source software services, generating over a million dollars in annual revenue per client. Its open-source technology helps other businesses quickly deploy customized blockchains.
Hardware and software company Arx Research completed a $6.1 million seed round financing, led by Castle Island Ventures, with participation from Inflection, Placeholder, Seed Club Ventures, and 1kx. The company officially launched the "Burner Terminal," a handheld POS device that integrates digital assets and traditional payments.
This terminal is EMV certified, supports stablecoins, contactless cards, and chip-and-PIN card payments, and integrates the Flexa network to support cryptocurrencies like Bitcoin and Ethereum. The product is designed for small merchants such as food trucks and hair salons, enabling mobile payments via WiFi and LTE networks, allowing consumers to pay through their mobile phones, Burner cards, or QR codes. The founding partner of Castle Island Ventures pointed out that this is the first time stablecoins have truly entered the physical retail scene. The company's CEO stated that if merchants accept stablecoins directly, the fee structure could be close to free.
Solana ecosystem project Harmonic completes $6 million seed round financing, led by Paradigm
Solana ecosystem infrastructure project Harmonic completed a $6 million seed round financing, led by Paradigm, with participation from several key stakeholders in Solana as angel investors. Harmonic aims to build the first open block construction system for Solana, helping validators obtain optimal blocks by real-time aggregating bids from multiple block builders. This system aims to address the current issue of excessive centralization of block construction rights in the Solana network, operating similarly to an order routing system in high-frequency trading.
Sprinter completes $5.2 million seed round financing, led by Robot Ventures
Cross-chain infrastructure project Sprinter, founded by several early Ethereum developers, has completed a $5.2 million seed round financing, led by Robot Ventures, with participation from Uniswap Labs Ventures and others. Sprinter focuses on "solving-as-a-service," providing unsecured credit and quote-based Swap APIs to enhance trading execution efficiency, and is currently in private testing.
Cross-border payment infrastructure company Zynk, which supports stablecoins, has completed a $5 million seed round financing, led by Hivemind Capital, with participation from Coinbase Ventures, Alliance DAO, Transpose Platform VC, Polymorphic, Tykhe Ventures, and Contribution Capital. The new funds will primarily be used to expand its trading channel coverage, enhance its liquidity, technology, and compliance infrastructure, and establish partnerships with leading global payment service providers. Zynk provides instant cross-border settlement services for payment companies without the need for pre-funding by integrating fiat and stablecoin settlement channels. Zynk co-founder and CEO stated that the core of its technology is to embed liquidity directly into the network, eliminating the need for pre-funding in traditional payments. The platform currently supports instant cross-border settlements in six major currencies, including USD, EUR, and INR, achieving an average monthly growth of 70% since its low-profile launch in April. The team consists of fintech experts from institutions such as Amazon Pay India and Morgan Stanley.
DAT
(Such transactions are not included in this financing weekly report statistics)
Tharimmune completes $540 million private placement financing to establish Canton token treasury
Nasdaq-listed company Tharimmune announced it has completed a $540 million private placement financing, led by DRW and Liberty City Ventures, with participation from ARK Invest, Bitwave, Broadridge, Clear Street, Copper, Digital Asset, and other companies. The new funds will support the company in establishing a treasury for the Canton utility token and conducting token purchases.
Digital asset finance company Hyperscale Data completes $125 million "At-the-Market" financing plan
Digital asset finance company Hyperscale Data, Inc. announced it has completed its previously disclosed "At-the-Market" (ATM) equity plan, further strengthening the company's balance sheet and accelerating its growth plans. Through this plan, the company sold a total of 255,490,454 shares of Class A common stock, raising a total of $125 million.
Swiss Bitcoin treasury company FUTURE completes 28 million Swiss franc financing
Leading Swiss Bitcoin treasury company FUTURE (Future Holdings AG) announced it has successfully completed a strategic financing of 28 million Swiss francs. This round of financing was led by well-known investment institutions such as Fulgur Ventures, Nakamoto, and TOBAM, which have deep backgrounds in both traditional finance and Bitcoin. FUTURE is led by an experienced team, including Richard Byworth, chairman of Syz Capital, CEO Sebastien Hess, and co-founder Adam Back, CEO of Blockstream. FUTURE's business model is based on a Bitcoin balance sheet, covering treasury operations, research analysis, infrastructure development, and consulting services, aimed at promoting institutional Bitcoin adoption. FUTURE plans to hold the Future Bitcoin Forum in Switzerland in 2026 to further solidify its industry position.
Stewards completes $10 million PIPE financing to establish DOLO digital asset treasury
U.S. over-the-counter listed company Stewards announced it has reached a $10 million token exchange equity financing deal with the Dolomite Foundation, using a private investment in public equity (PIPE) model. It is reported that these funds will be used to support Stewards in establishing a digital asset treasury for the native token DOLO of Dolomite.
Centralized Finance
Stablecoin developer Standard Money completes $8 million strategic financing
Standard Money, the developer of the BNB Chain ecosystem stablecoin USDsd, has completed $8 million in strategic financing, led by Yzi Labs, with participation from Gate.io, Crypto.com, and Animoca Brands. Standard Money claims to have received investment from YZi Labs, but YZi Labs has denied this statement. YZi Labs stated that Standard Money is a rebranding of the Tranching protocol, which was a project in Binance Labs' third-quarter incubation program, and YZi Labs did not lead its strategic investment round. It is reported that USDsd is an algorithmic stablecoin that seeks yield, based on the stablecoin USDT. The funds raised will be used to support the mainnet launch of Standard Money, expand its liquidity partnerships, and grow its global business.
Venture Capital Firms
Crypto venture firm CMT Digital raises $136 million for its fourth fund
Cryptocurrency venture firm CMT Digital has raised $136 million for its fourth fund, with the financing round concluding in early October, attracting participation from family offices, high-net-worth individuals, and some large institutions. Specific contributors have not been disclosed. CMT Digital has allocated about 25% of its $136 million fund, including investments in the popular stablecoin sector, betting on startups like Coinflow and Codex.
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