Last week, there were 26 public financing incidents in the crypto market, with a total financing of approximately US$1.821 billion | Investment and Financing Weekly
Reprinted from chaincatcher
03/24/2025·2MCompiled by: Luan Peng, RootData
According to incomplete statistics from RootData, from March 17 to March 23, 2025, there were 26 public investment and financing events in the blockchain and crypto industries, with a total financing of approximately US$1.821 billion.
From the perspective of track distribution, the projects that have received financing are mainly distributed in infrastructure and Defi track. Popular projects include Singapore's digital asset infrastructure provider BetterX, stablecoin protocol Level , AI startup Pluralis Research , and crypto prediction platform Yeet.
Kraken announced the acquisition of US futures trading platform NinjaTrader for US$1.5 billion. Digital asset futures and derivatives services are now available in the United States, as NinjaTrader has been registered with CFTC. In addition, Kraken's regulatory licenses in the UK, the EU and Australia will help NinjaTrader expand in these regions.
(The list of projects that raised more than $5 million last week, data source: Rootdata )
1. Infrastructure
According to CrowFund Insider, Singapore's digital asset infrastructure provider BetterX completed a Pre-A Series 2.3 million (approximately US$1.7 million). This round of financing will be used to support its expansion in Asia, the Middle East and the United States.
New investors include Grand Prix Capital, Aument Capital, and well-known angel investors such as Sabrina Tachdjian of HBAR Foundation and Riaz Mehta of Crypto Knights. Existing investors Aura Group, Tibra co-founder Kinsey Cotton and others continue to follow up.
BetterX provides financial institutions with institutional-level infrastructure for tokenization, trading and digital asset portfolio management. The company has been profitable in the Australian market, with its platform supporting the issuance and management of tokenized financial products, digital asset trading infrastructure and custody solutions.
The company said the new financing will be used to accelerate growth strategies in key markets, build strategic partnerships, and strengthen the technology stack to meet growing regulatory requirements and customer needs.
Hibit announces a new round of $5 million financing
Hibit announced the completion of a new round of $5 million financing. The investors in this round include Bochsler Finance, Nvdia, distributed Shenbo, Shuidi Capital, Web3 Venture, Betterverse DAO, Hitters and many well-known traditional entrepreneurs. Financing funds will be used to further improve the Hibit ecosystem, including Layer2 infrastructure, Hibit DEX, full-chain interoperability technology and the in-depth layout of the AI Agent economy.
As an independent Layer2 that seamlessly connects the entire chain, Hibit has currently covered many public chains and ecological projects such as TON, Kaspa, Solana, ETH, BTC, BNB, ICP, etc., providing the safest cross-chain solution (non-cross-chain bridge). In addition, Hibit DEX, as the first core product of the Hibit Layer2 ecosystem, integrates the advantages of CEX and DEX, achieves a smooth trading experience of millions of TPS levels, and supports the deep integration of license-free coins and AI agent economy with the Meme community. The Hibit team comes from MIT and has experience in establishing the top ten centralized exchanges in the world from 2013 to 2017.
The success of this round of financing further consolidates Hibit's technological position in the fields of decentralized transactions, full-chain interoperability and AI economy, and will become a trusted interactive infrastructure and payment infrastructure for AI agents in the future world. Hibit will launch airdrop and node sales plans in the near future and will complete TGE within the year.
According to Fortune, the Walrus Foundation, the core entity of the blockchain storage protocol Walrus, announced that it had completed a $140 million financing, with the main investor being Standard Crypto. Other well-known investment institutions involved in this round include Andreessen Horowitz (a16z) crypto division, Electric Capital and Franklin Templeton Digital Assets division. The financing valuates the total supply of the Walrus protocol's cryptocurrency (token symbol: $WAL) to US$2 billion.
"Previous on-chain storage attempts have faced challenges in scalability, flexibility and security," said Adam Goldberg, Management Director and Co-founder of Standard Crypto, in a statement. The Walrus protocol was developed by Mysten Labs, which builds the Sui blockchain. Mysten Labs co-founder and CEO Evan Cheng revealed to Fortune that the $140 million financing was completed only in the past three weeks, and "the market demand is very strong." This is Mysten Labs’ first round of financing for Walrus.
According to Fortune, AI startup Pluralis Research has announced a $7.6 million financing round. The round was led by venture capital firms CoinFund and Union Square Ventures, with Topology, Variant, Eden Block and Bodhi Ventures, and well-known cryptocurrency investors Balaji Srinivasan and HuggingFace co-founder Clem Delangue.
Alexander Long, founder and CEO of Pluralis, told Fortune that this round is equity financing, with warrants for future cryptocurrencies (if Pluralis decides to issue cryptocurrencies). At present, Pluralis has not launched a product, and investors are mainly optimistic about Long and its team. "My reason to raise this round is that 'this team is the best team to solve this problem,'" Long said. "No one else is trying. We think we can do it."
Unlike other companies that try to train AI through decentralized server networks, Long’s approach is to study whether it is possible to train parts of the model on a single computer rather than the entire model. "If you can make the problem accurate enough, you will usually find a solution right away," he said.
Crypto wallet infrastructure Privy completes $15 million financing, led by Ribbit Capital
According to Fortune, crypto wallet infrastructure Privy announced a $15 million financing, led by Ribbit Capital, and participated by Sequoia Capital, Paradigm and Coinbase. The valuation information has not been disclosed yet. The company's total financing so far has reached $40 million.
According to the Web3 asset data platform RootData, [Privy](https://www.rootdata.com/zh/Projects/detail/Privy?k=MjEyNg== "Web3 User Access Platform") is an infrastructure platform that provides identity authentication and key management tools for Web3 applications. Through embedded wallets, account abstraction and cross-chain interoperability functions, it helps developers build a seamless multi-chain network user experience.
Blockdaemon acquires Expand Network, a DeFi connection provider
According to CoinDesk, Blockdaemon, a leading provider of crypto infrastructure, has acquired expand.network, a company that provides DeFi (decentralized finance) single API connectivity services designed to help large financial institutions seamlessly access on-chain transactions. Although the specific acquisition price was not disclosed, Blockdaemon said the deal was worth tens of millions of dollars. Expand provides DeFi API access services, supporting connections to more than 170 endpoints, including decentralized exchanges (DEXs), cross-chain bridges, lending protocols and oracles.
“DeFi will significantly reduce the cost of running financial infrastructure for banks and institutions, which is an area for institutions to benefit in the long term. While this area is still in its early stages and there is still much work to be done in terms of regulatory clarity, adoption and decentralization, now is the right time to accelerate this particular vertical in our product suite.”
Utila, a crypto wallet provider, completed $18 million Series A funding round, led by Nyca Partners
According to CoinDesk, Utila, a digital asset operation platform, has completed a $18 million Series A financing round to expand its multi-party computing (MPC) wallet solution to meet the growing institutional digital asset management needs. This round of financing was led by Nyca Partners, with Wing VC, NFX, Haymaker Ventures, Gaingels and Cerca Partners participating. Since its official debut last year, the startup's total venture capital investment has reached about $30 million.
Utila co-founder and CEO Bentzi Rabi said in an interview that the company's platform has experienced a new round of demand for digital asset infrastructure as payment providers, fintech companies and emerging banks increasingly use digital assets in their businesses, including stablecoins and tokenized assets. The financing will help Utila expand globally and enhance product capabilities, including advanced Gas management, API integration and smart contract support.
Via Science, a decentralized identity management platform, announced a $28 million Series B financing round, led by Bosch Ventures, and participated by BMW i Ventures, MassMutual Ventures, Sentinel Global and Westly Group.
It is reported that Via Science’s decentralized, zero-trust architecture has been tested by the US Department of Defense. Unlike any other Web3 technology, its combination of end-to-end anti-quantum encryption ensures access and privacy of authorized parties.
2. Defi
According to CoinDesk, Peregrine Exploration, the development company behind the stablecoin agreement Level, announced a new round of financing of $2.6 million, led by Dragonfly Capital, led by Polychain, Flowdesk, Echo, Native Crypto and Feisty Collective by Path, as well as angel investor Frax's Sam Kazemian and Injective's Albert Chon, the latest round of financing was conducted after it raised $3.4 million in August, and its total financing has reached $6 million so far.
Solana's ecological gold tokenization project ORO announced the completion of a US$1.5 million Pre-Seed round of financing, led by 468 Capital, and investors such as Fasset, Dead King Ventures and many angel investors participated. According to reports, ORO aims to expand real-world assets that generate returns on Solana through gold tokenization.
Delphi Ventures Invest in Ekubo Protocol
Delphi Ventures announced on X that it has invested in Ekubo Protocol, which was originally the Starknet ecosystem DEX, and has now been deployed to the Ethereum main network through the v2 version.
Perhaps affected by this positive news, EKUBO broke through 7 USDT, with a 24-hour increase of 24.1%.
III. AI
According to Fortune, AI startup Pluralis Research has announced a $7.6 million financing round. The round was led by venture capital firms CoinFund and Union Square Ventures, with Topology, Variant, Eden Block and Bodhi Ventures, and well-known cryptocurrency investors Balaji Srinivasan and HuggingFace co-founder Clem Delangue.
Alexander Long, founder and CEO of Pluralis, told Fortune that this round is equity financing, with warrants for future cryptocurrencies (if Pluralis decides to issue cryptocurrencies). At present, Pluralis has not launched a product, and investors are mainly optimistic about Long and its team. "My reason to raise this round is that 'this team is the best team to solve this problem,'" Long said. "No one else is trying. We think we can do it."
Unlike other companies that try to train AI through decentralized server networks, Long’s approach is to study whether it is possible to train parts of the model on a single computer rather than the entire model. "If you can make the problem accurate enough, you will usually find a solution right away," he said.
4. Game
Crypto forecasting platform Yeet completed a $7.75 million financing, led by Dragonfly
The crypto forecasting platform Yeet completed a $7.75 million financing, led by Dragonfly, and angel investors including Pudgy Penguins CEO Luca Netz, LayerZero CEO Bryan Pellegrino participated in the investment.
Yeet was co-founded by Michael Anderson (pseudonym Mando), anonymous trader Keyboard Monkey and professional poker player Ben Lamb. It focuses on the "predictive market for crypto users", and the target users are crypto native groups with high risk preferences.
According to official news, Kamigotchi, an on-chain game built on Initia's Interwoven Stack, announced a $1.3 million seed round of financing, with angel investors such as Seed Club VC, TempleDAO and DCF God participating.
According to the Web3 asset data platform RootData, [Kamigotchi](https://www.rootdata.com/zh/Projects/detail/Kamigotchi?k=MTQ4NzU= "Pet Game Project") is a Web3 game project that allows players to incubate, cultivate and customize digital pets. Players improve their pet abilities through tasks and interactive activities and experience the rich virtual pet development process. The game incorporates blockchain elements, giving players real ownership of their pets.
V. Others
According to Blockworks, real estate tokenization company Manifest completed a $2.5 million financing, led by VanEck Ventures, and participated by Compound, Lattice Fund and SALT.
Manifest is a company dedicated to introducing U.S. private equity real estate into blockchain, aiming to combine real estate and decentralized finance (DeFi).
Crypto broker LTP acquires Spanish crypto company Turing Capital Brokerage (TCB), and the specific amount has not been disclosed yet. This strategic acquisition enables LTP to expand its business to the European market while providing fully compliant digital asset brokerage services under the MiCA framework.
Turing Capital is a digital asset investment company, TCB is a subsidiary founded by serial entrepreneurs and cryptocurrency investors Jorge Schnura and Javier Garay.
Uranium Digital completed a $6.1 million seed round of financing, led by Framework Ventures
According to CoinDesk, Uranium Digital, a uranium ore tokenization solution, completed a $6.1 million seed round, led by Framework Ventures.
It is reported that this financing will accelerate Uranium Digital's establishment of a uranium spot trading platform using cryptographic infrastructure as the backend, and promote the development of the "finanized" uranium spot market.
According to Web3 asset data platform RootData, [Uranium Digital](https://www.rootdata.com/zh/Projects/detail/Uranium%20Digital?k=MTU0NDU= "Uranium ore tokenization solutions") is a company that tokenizes uranium ore to make it easier to trade in such highly regulated metals in underfunded markets.
Kraken announces acquisition of NinjaTrader for $1.5 billion
Kraken announced the acquisition of US futures trading platform NinjaTrader for US$1.5 billion. Digital asset futures and derivatives services are now available in the United States, as NinjaTrader has been registered with CFTC. In addition, Kraken's regulatory licenses in the UK, the EU and Australia will help NinjaTrader expand in these regions.
Stable Coin Company Stable Sea completes $3.5 million in financing, led by Kindred Ventures
According to PR Newswire, stablecoin company Stable Sea announced a $3.5 million round of financing, led by Kindred Ventures, and participated by Ludlow Ventures, DFS Lab, The Venture Dept. and The Fintech Fund.
It is reported that the fund will be used to further realize Stable Sea’s mission to provide efficient, economical and compliant stablecoin circulation solutions.
Crypto development platform Crossmint completed a $23.6 million financing, led by Ribbit Capital
According to Fortune, crypto development platform Crossmint completed a $23.6 million financing, covering seed rounds, A rounds and strategic financing, led by Ribbit Capital, with Franklin Templeton, Nyca, First Round, Lightspeed Faction and others participating.
Crossmint provides API tools to help developers easily integrate encryption without having to understand blockchain technology. Currently, its customers include 40,000 companies and developers including Adidas, Red Bull, Coinbase, etc. Its stablecoin API and AI robot payment capabilities are highly favored, with subscriptions increasing by 1,100% in 2024. Crossmint plans to further expand the traditional financial and technology enterprise market and form a differentiated layout with competitors such as Alchemy.
ABEX, a digital asset high-frequency trading company based in London, UK, announced a $6 million financing round led by MMC Ventures. The new funds are intended to be used for its launch of derivatives trading and algorithm execution solutions to improve transaction execution efficiency in centralized and decentralized financial venues.
The company is registered with the Financial Conduct Authority (FCA) and allows cryptocurrency trading activities.
According to official news, Web3 community-driven game ecosystem Slingshot DAO has completed a US$16 million financing , and investors include Dragonfly Capital, Animoca Brands, Digital Currency Group (DCG), Sfermion, Standard Crypto, Sanctor Capital, Collab+Currency, Alphabit and other well-known Web3 institutions.
In addition, Slingshot DAO revealed that the SLING token will be launched soon and hinted that trading will be opened soon.
According to Web3 asset data platform RootData, [SlingShot](https://www.rootdata.com/zh/Projects/detail/Slingshot?k=MTE5NTc= "Creative Incubation DAO") helps coordinate various community members to transform simple ideas into creativity and then into real experiences. Community members use the SlingShot application interface to submit ideas for new, exciting games and experiences. Vot your favorite game ideas displayed on the rankings. Request rewards for their participation (submit ideas and vote). Members can also build - Talented individuals, small teams and studios are supported by SlingShot DAO Treasury to build winning ideas.
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