Last week, there were 20 public financing events in the crypto market, with a total financing of approximately US$606 million | Investment and Financing Weekly
Reprinted from chaincatcher
06/02/2025·2DCompiled by: Luan Peng, RootData
According to incomplete statistics from RootData, from May 26 to June 1, 2025, there were 20 public investment and financing events in the blockchain and crypto industries, with a total financing of approximately US$606 million.
From the perspective of track distribution, the projects that have received financing are mainly distributed in infrastructure and AI tracks. Popular projects include Bitcoin smart multi-signature wallet operator Asigna , smart crypto trading tool Alph.AI , game distribution platform Oncade , and Solana's ecological quantitative strategy sharing platform Neutral Trade .
In addition, Solana's ecological token issuance platform Cooking.City completed a US$7 million financing, with Jump, CMT Digital, Mirana, Bitscale Capital and EVG participating.
(The list of projects that raised more than $5 million last week, data source: Rootdata )
1. Infrastructure
Blockchain investment institution Oak Grove Ventures announced a strategic investment in Ethereum-compatible Layer 2 blockchain Reddio. Based on zero-knowledge proof, Reddio is committed to solving the scalability problem of Ethereum. Its parallel EVM architecture and GPU acceleration significantly improve transaction processing capabilities. This investment will help Reddio expand its ecosystem and accelerate the implementation of Web3.
According to Cointelegraph, Assisterr, an AI platform based on Solana, announced a $2.8 million financing, with the company's valuation reaching $75 million. This round of financing is participated by Google for Startups, Outlier Ventures, Web3.com, Echo.xyz, Moonhill Capital and other institutions.
ChainCatcher previously reported that Binance Alpha will launch Assisterr AI (ASRR), with the transaction opening date of May 30, and the specific time will be announced later. Eligible users need to use Binance Alpha points to receive airdrops on the Alpha event page, and the event page and details will be launched on May 30.
Naoris Protocol completed $3 million strategic financing, led by Mason Labs
According to Decrypt, Naoris Protocol announced the completion of a $3 million strategic financing round led by Mason Labs, with Frekaz Group, Level One Robotics and Tradecraft Capital participating. The round of financing was completed after six months of technical due diligence, and a new round of institutional financing was launched due to oversubscription.
It is reported that Naoris Protocol is a quantum blockchain and network security grid architecture that provides plug-and-play security solutions to protect any EVM blockchain or enterprise systems without hard forks.
Bitcoin smart multi-signature wallet operator Asigna announced that it had completed a $3 million financing, led by Hivemind Capital and Tykhe Block Ventures, with Sats Ventures, Trust Machines and others participating.
It is reported that the new version launched will allow users to directly interact with Bitcoin applications through embedded applications, support direct exchange of Bitcoin and assets, and provide connection and multi-signature SDKs, and add new sub-accounts, governance, privacy mode and other functions.
2. AI
Smart crypto trading tool Alph.AI completed a US$2 million strategic financing, led by Bitrue
According to Chainwire, smart crypto trading tool Alph.AI announced the completion of a US$2 million strategic financing, led by Bitrue.
The new fund is intended to promote the intelligent construction of platform AI to help users discover high-potential tokens as early as possible.
According to Cointelegraph, agent crypto browser Donut Labs announced a $7 million seed round of financing, led by HSG, Bitkraft and HackVC, and Matrix Partners, Sky9 Ventures, Makers Fund and SonicSVM.
The new funding will be used to support the development of Donut, an executable crypto browser powered by an artificial intelligence proxy with native cryptocurrency wallets and decentralized exchange integration, decentralized network access and on-chain execution.
3. Game
Game distribution platform Oncade completes a $4 million financing, led by a16z crypto CSX
Game distribution platform Oncade completed a US$4 million financing, led by a16z crypto CSX.
Oncade is committed to helping game studios increase revenue by enhancing player engagement and community interaction. The core concept is to break the distribution model of traditional game platforms through a community-driven approach and build a game store that is directly targeted at players.
According to GlobenewsWire, sports betting operator SharpLink Gaming, Inc. (NASDAQ: SBET) announced today that it has signed a securities purchase agreement to conduct a $425 million public corporate private equity investment (PIPE) with plans to issue approximately 69.1 million common shares (or equivalent securities) at a price of $6.15 per share ($6.72 per share for the company's management team).
Consensys Software Inc. is a leading investor, and the participants include well-known crypto venture capital institutions such as ParaFi Capital, Electric Capital, Pantera Capital, and Galaxy Digital. The transaction is expected to close on May 29.
SharpLink plans to use the funds raised to purchase Ethereum as the company's main treasury reserve assets. After the transaction is completed, Ethereum co-founder and founder and CEO of Consensys will serve as chairman of the board of directors of SharpLink and will serve as a strategic consultant to assist the company in developing its core business.
IV. DeFi
Quantitative strategy sharing platform Neutral Trade completed a $2 million financing
According to official news, Neutral Trade, the Solana ecological quantitative strategy sharing platform, completed a US$2 million financing, and angel investors from projects such as Perena, Drift, Python, etc. participated in the investment.
The team will use this funding to continue to develop a full suite of delta neutral, targeted, ETF style and structured products based on the Sustainability Index and CEX, operated by the team and the community’s well-planned decentralized strategy operations team.
Stablecoin issuer Avalon Labs completes strategic round financing, led by YZi Labs
Bitcoin stablecoin issuer Avalon Labs recently completed a strategic round of financing. This round of financing was led by YZi Labs, with Mirana, CE Innovation Capital and GSR participating. The funds raised will be used to promote the platform's compliance process, including applying for regional financial licenses, preparing public funds, etc., aiming to lay the foundation for them to build on-chain compliant Bitcoin financial institutions. Avalon Labs said that in the future, it will further expand its institutional lending business, expand its market coverage, and continue to promote the construction of Bitcoin financial infrastructure.
Previously , yesterday's news , YZi Labs announced its investment in Avalon Labs. According to its introduction, Avalon currently serves more than 20,000 BTC, has more than 300,000 active users, and has a total locked position value of more than 500 million US dollars. Its Bitcoin stablecoin USDa has become the second largest CDP project on DeFiLlama.
V. Others
Mask Network completes strategic acquisition of Orb.club, a native social application for Lens chain
According to official news, decentralized social pioneer Mask Network completed a strategic acquisition of Orb.club, the native social application of Lens chain. This acquisition marks a key step in Mask Network's social ecological matrix MaskDAO in the journey of building a user-owned Internet ecosystem, reshaping the value flow of creators' economy by integrating the most dynamic social layer in the Web3 era.
It is reported that as the mobile social application with the largest number of users on the Lens protocol, it exceeded 50,000 monthly active users at the beginning of 2025, ranking first in the Web3 native social applications. After joining the MaskDAO ecosystem matrix, Orb will form synergistic effects with core components such as Next.ID (decentralized identity), Web3.bio (on-chain archive search), Firefly.social (Web3 all-round application), and jointly build the "Web3 version of Tencent" social map.
Mask Network builds a bridge between Web2 and Web3 by allowing users to directly use decentralized applications, encrypted communications and payment tools on traditional social platforms. Its ecosystem is governed by MaskDAO and covers a series of applications such as Next.ID, Web3.bio, Firefly.social and new member Orb.club. Through venture capital firm Bonfire Union, Mask continues to invest in decentralized social networks and infrastructure, committed to making Web3 technology more accessible to users around the world.
Solana's ecological token issuance platform Cooking.City completed a US$7 million financing, with Jump, CMT Digital, Mirana, Bitscale Capital and EVG participating. Cooking.City is committed to reshaping the token issuance mechanism and proposes a new model of on-chain issuance that is sustainable, rewarding and community-centric.
The new models proposed by Cooking.City include: value redistribution (redistribution of most platform fees to developers and users), "confidence pool" mechanism (token issuers need to deposit a certain amount of funds in the smart contract in advance), social-based value distribution system (introducing a recommendation rebate system and reallocating the fees within the ecosystem, most of the fees are used for community recommendations and transaction rewards, part of which is returned to token issuers, and the rest is invested in the long-term development of the platform).
Bitcoin company Twenty One raised an additional $100 million through convertible priority guarantee notes, increasing its total financing to $685 million. According to the Securities and Exchange Commission filing, the new financing comes from existing investors and sponsors who exercised the option to buy more notes, which was originally granted in the April financing round.
Twenty One Capital is launched through the SPAC structure by Cantor's Brandon Lutnick, whose well-known owners include iFinex and Tether, and is led by Strike CEO Jack Mallers.
Naoris Protocol completed $3 million strategic financing, led by Mason Labs
According to Decrypt, Naoris Protocol announced the completion of a $3 million strategic financing round led by Mason Labs, with Frekaz Group, Level One Robotics and Tradecraft Capital participating. The round of financing was completed after six months of technical due diligence, and a new round of institutional financing was launched due to oversubscription.
It is reported that Naoris Protocol is a quantum blockchain and network security grid architecture that provides plug-and-play security solutions to protect any EVM blockchain or enterprise systems without hard forks.
According to PR Newswire, Bitcoin native infrastructure BlockSpaces announced a $2 million strategic round of financing, led by Axiom, with Leadout Capital, Sand Harbor Capital, and Lisa Hough of Eberly Energy Ventures and Bob Burnett of Barefoot Mining.
As of now, the company has raised a total of US$10 million in financing, and the new funds are intended to support its launch of ARCC, a Bitcoin native collateral and risk management platform for institutions.
Stablecoin Conduit announced the completion of a $36 million Series A financing round, led by Dragonfly Capital, and participated by Sound Ventures, Altos Ventures, DCG and Commerce Ventures. This round of A financing brings Conduit's total financing to US$53 million, and the company has not disclosed the valuation of this round of financing.
Conduit’s goal is to provide global businesses with faster, more economical and more reliable cross-border payment services, using stablecoins, a cryptocurrency designed to keep value in line with the US dollar, to complete transactions faster than traditional banks.
