Author: WuBlockchain

Translated by: Deep Tide TechFlow

Deep Tide Introduction: In June, the number and amount of crypto financing projects both hit a one-year low, decreasing by 31% and 58.3% month-on-month respectively. However, the market structure is changing: DeFi's share rose from about 20% in May to 26%, with leading projects like Canton Network and Morpho receiving support from top institutions, and the RWA narrative becoming the main theme.

Number of financing projects hits a one-year low, DeFi share increases

According to RootData, a total of 58 crypto VC financings were disclosed in June 2026, a decrease of 31.0% month-on-month (84 in May) and a decrease of 33.3% year-on-year (87 in June 2025).

By segment, the financing structure in June is as follows: CeFi accounted for about 15.5%, DeFi accounted for 25.9%, NFT/gaming accounted for 1.7%, L1/L2 accounted for 5.2%, RWA/DePIN accounted for 8.6%, tools/wallets accounted for 19.0%, and AI accounted for 13.8%.

Total financing amount halved month-on-month, with Canton Network leading the way

The total amount of crypto VC financing in June was approximately $1.237 billion, a decrease of 58.3% month-on-month (compared to $2.966 billion in May) and a decrease of 56.9% year-on-year (compared to $2.868 billion in June 2025).

Note: Projects with undisclosed amounts are counted in the project number but not included in the total financing amount. Data may be adjusted over time as not all financings are disclosed in the month they are completed. The top ten financings ranked by disclosed amount are as follows:

The privacy blockchain Canton Network's developer Digital Asset raised $355 million in financing led by a16z crypto, with large institutions including Abu Dhabi Investment Authority (ADIA), Apollo Funds, BNP Paribas, Citadel Securities, CME Ventures, Coinbase Ventures, HSBC, S&P Global, SBI Group, and SoFi participating. Canton Network aims to provide a shared ledger for large financial institutions to issue and trade bonds, loans, and funds as RWA while ensuring privacy and maintaining compliance.

Japan's financial group SBI Holdings acquired domestic crypto exchange Bitbank for $289 million, making it one of the largest merger and acquisition transactions in Japan's crypto industry. This acquisition is expected to consolidate trading liquidity, expand the user base, and enhance SBI's competitive position relative to other domestic exchanges.

The decentralized lending protocol Morpho completed a $175 million token sale, led by Paradigm, a16z crypto, and Ribbit Capital, with participation from Apollo Funds, VanEck, Circle Ventures, Ledger Cathay, Wintermute Ventures, and others. Morpho was founded in 2021 and is headquartered in Paris, focusing on building modular, open on-chain credit infrastructure. The new funds will be used to deepen integration with traditional financial platforms and accelerate the global expansion of RWA through decentralized finance.

The crypto trading platform fomo completed a $75 million Series B financing round, led by Index Ventures, with Union Square Ventures, Benchmark, and several non-crypto angel investors participating, achieving a valuation of $550 million. The platform was founded in 2025 by former dYdX employees, aiming to simplify blockchain interactions through social trading experiences and is expanding into the area of stock and derivatives tokenization.

The options and derivatives trading infrastructure provider SignalPlus announced the completion of a $50 million Series B1 financing round, with a post-money valuation of $500 million. This round was led by HashKey Capital, with BlockBooster and AppWorks participating, with Goldman Sachs serving as the exclusive financial advisor.

The blockchain data analytics company Allium completed a $40 million Series B financing round, led by Amplify Partners, with participation from Kleiner Perkins and Theory Ventures. The financing will be used to meet the increasing demand from institutions for structured and standardized on-chain data.

Ornn completed a $33 million seed financing round led by a16z Crypto, with Galaxy Ventures, Nordstar, and SV Angel participating. Traditional cloud computing providers mainly sell GPU computing time directly to AI companies. Ornn's core proposition is to transform computing power from privately negotiated long-term contract resources into publicly priced assets that can be traded, financed, and hedged.

The stablecoin payment infrastructure company Trace Finance completed a $32 million Series A financing round, led by CoinFund, to expand its operations in Latin America and the Asia-Pacific region. Other investors include Coinbase Ventures, Haun Ventures, Jump Capital, Paxos, Chainlink Labs, and HOF Capital.

The financial infrastructure company for prediction markets EDGE Markets announced in early June the completion of a $29.2 million Series A financing round, led by CoinFund, with Indicator Ventures, Mantis VC, Stepstone Group, and Bullpen Capital participating. The financing will support the launch of EDGE Pro and the payment network EDGE Connect.

The prediction market application Onyx Odds completed a $20 million Series A financing round, led by Kraken's parent company Payward, achieving a valuation of $220 million. The financing will be used to expand its sports prediction and related trading products.