Author: Wu Says Blockchain

According to RootData statistics, in August 2026, a total of 61 venture capital projects were made public by Crypto VC, a month-on-month decrease of -10.3% (from 68 projects in July 2026), and a year-on-year decrease of -45.0% (from 111 projects in August 2025). The trend over the past year is as follows:

From the sector classification, August is as follows: Among them, CeFi accounted for about 18%, DeFi about 29.5%, NFT/Game about 3.3%, L1/L2 about 4.9%, RWA/DePIN about 4.9%, Tool/Wallet about 8.2%, AI about 9.8%, and Web3/Others about 21.3%.

In August 2026, the total financing amount for Crypto VC was approximately 742 million USD, a month-on-month decrease of -68.0% (from 2.321 billion USD in July 2026), and a year-on-year decrease of -86.5% (from 5.495 billion USD in August 2025). The trend over the past year is as follows:

Note: For projects with undisclosed amounts, only the total number of projects is counted, not the total amount; at the same time, since not all funding will be disclosed in the month, the relevant statistics may still be revised later. Among them, the following are the top 10 rounds ranked by financing amount:

Ripple's non-bank prime broker Ripple Prime has completed a private offering of 275 million USD in senior unsecured notes after an increase in size, with the funds being used to support its operations in the United States, including working capital and general corporate purposes. This batch of notes received a BBB investment-grade rating from KBRA, and Ripple Prime previously also obtained a BBB issuer rating from KBRA. Piper Sandler served as the lead underwriter for this transaction.

The crypto platform Bullish has provided 100 million USD in debt financing for the stablecoin protocol USD.AI, developed by Permian Labs, which currently has over 225 million USD in crypto assets locked in the protocol. Bullish also plans to launch USD.AI's sUSDai and open multiple trading pairs, providing investors with a secondary market channel supported by GPU-backed debt, connecting on-chain capital with computing power financing needs, thus providing liquidity for AI infrastructure development.

The clearing and custody institution RQD* Clearing has raised 74 million USD, led by Bain Capital, with participation from the Dutch Bank Clearing Bank and Nyca Partners. The company plans to use these funds to expand into the North American, Asian, and Middle Eastern markets, and to develop products covering digital asset custody and tokenization. RQD* provides clearing and custody services for broker-dealers, investment advisors, and overseas financial institutions entering the U.S. market. Clearing companies are responsible for tracking positions, transferring securities and cash, and managing risks from the completion of trades to final settlement.

Stablecoin digital bank Fasset has completed a new round of financing of 68 million USD, led by Japanese financial giant SBI Group, bringing the company's valuation to 1 billion USD. This follows a previous financing of 51 million USD completed in May of this year, making it Fasset's second large investment within the year, bringing the total financing for the year to 119 million USD. Fasset operates a one-stop financial platform that allows consumers and businesses to hold, send, pay, and invest in various currencies and assets, using stablecoins as the underlying settlement infrastructure.

Yellow Card has completed a strategic financing of 40 million USD, with investments from SC Ventures, Sony Innovation Fund, Polychain Capital, Blockchain Capital, and other strategic investors. The main business of this project is to provide stablecoin infrastructure, and this round of funding will be used to expand its Global USD Accounts for enterprises and to extend the stablecoin track connecting global markets.

The yen stablecoin JPYC issuer has completed a Series B extension financing, with a total of approximately 38 million USD raised in Series B. The new investor in this round is Japanese logistics giant AZ-COM, which invested about 6.3 million USD. The financing will be used to expand the finance and Web3 ecosystem, promoting the practical application of the yen stablecoin JPYC.

Capital B has completed a targeted issuance of 21 million euros, with subscribers including global institutional investors like Adam Back and TOBAM, to accelerate its Bitcoin Treasury Company strategy. The announcement disclosed that this was issued at 0.58 euros per share unit (ABSA) with four warrants attached; if all related warrants are exercised, an additional maximum of about 135.8 million euros can be raised; the net amount raised is expected to be about 19.9 million euros, and combined with ongoing operations, it is expected to enable the additional purchase of 270 BTC, increasing the company's potential total holdings to 3,415 BTC.

The digital asset investment management company Hivemind Digital Group has completed a strategic financing of 17 million USD, led by British asset management company M&G Investments, with participation from CPIC Investment Management (H.K.), ZA Bank, FalconX, and Sonic Boom Ventures. Alex Seddon, head of impact investment and private equity at M&G Investments, will join the board of Hivemind. Hivemind stated that this round of financing will be used to build institutional-grade investment infrastructure aimed at blockchain and cutting-edge technology assets, providing investors with digital asset-related investment tools and governance frameworks.

The HIP-3 deployer Entropy.io has completed a financing of 14 million USD, led by Ribbit Capital, and also secured 40 million USD in HYPE staking support, with the first market Anthropic pre-IPO now live on Hyperliquid. Entropy has already provided perpetual contract trading for global stocks, commodities, indices, and pre-IPO stocks under the Hyperliquid HIP-3 framework.

The full-stack new financial infrastructure City Protocol has completed a total of 11 million USD in seed and Pre-A round financing. Investors in this round include Dragonfly, CMT Digital, Stratified Capital, Bitscale Capital, Adaverse, Mirana Ventures, and Jump Crypto. It is reported that City Protocol aims to bring structured financial products on-chain to lower the access threshold for multi-dimensional financial asset allocation.