Last week, there were a total of 15 public financing events in the cryptocurrency market, raising approximately $201 million | Investment and Financing Weekly Report
Worldcoin's parent company World has completed a $135 million financing by selling WLD tokens; Web3 game developer Voya Games has completed a $5 million financing, led by 1kx and Makers Fund; Circle's joint venture Catena Labs has completed an $18 million seed round financing, led by a16z.Organizer: Luan Peng, RootData
According to incomplete statistics from RootData, during the period from May 19 to May 25, 2025, there were a total of 15 public financing events in the blockchain and cryptocurrency industry, with a cumulative financing of approximately $201 million.
From the perspective of sector distribution, the projects that received financing are mainly concentrated in the infrastructure and DeFi sectors. Popular projects include Canadian stablecoin issuer Stablecorp, Web3 game developer Voya Games, Bitcoin project Roxom Global, and stablecoin-native cryptocurrency exchange TrueX.
In addition, the Bitcoin liquid staking protocol Rover announced the completion of a $4.1 million seed round financing, with participation from Bloccelerate, Animoca Ventures, CMS Holdings, UTXO, Maelstrom, and others.
*(List of projects with financing greater than $5 million last week, data source: * Rootdata）
I. Infrastructure
According to Betakit, Canadian stablecoin issuer Stablecorp has completed $1.8 million in financing, with investors including Coinbase Ventures and Side Door Ventures. The funds will be used to expand the infrastructure for the Canadian dollar stablecoin QCAD, including establishing on-chain foreign exchange liquidity and payment channel integration.
The company announced that it will simultaneously carry out structural reforms for QCAD, including the establishment of an independent trust, QCAD Digital Currency Trust, to manage reserve assets, implement daily market value reports, monthly reserve proofs, and annual audits. QCAD is currently operated as a joint venture between cryptocurrency asset management company 3iQ and blockchain developer Mavennet Systems, which received a CAD 1.9 million investment from Circle Ventures and other institutions in 2022.
II. AI
According to official news, World Foundation, a subsidiary of the Worldcoin project, announced on May 21 that it raised $135 million by selling WLD tokens at market prices to Andreessen Horowitz and Bain Capital Crypto, to support the expansion of the World network in the U.S. and globally.
Previously disclosed investors also include Selini Capital, Mirana Ventures, and Arctic Digital.
UBI Network recently announced the completion of its seed round financing, led by early-stage technology investment firm LF Labs. This round of financing will be used for global node deployment, AI edge device expansion, optimization of point market mechanisms, and ecological cooperation expansion, further promoting the development of its network infrastructure.
Headquartered in New York, UBI Network aims to create an innovative architecture that integrates AI edge computing with DePIN (Decentralized Physical Infrastructure Network), providing technical support for exploring the universal basic income (UBI) model in the digital age. Users can participate in AI tasks and computing power sharing through plug-and-play devices and receive point incentives in real-time, forming a closed-loop economic system.
LF Labs stated: "The combination of AI and DePIN has long-term application potential. UBI Network demonstrates strong foresight in technology pathways and product implementation, aligning with our investment logic of 'real implementation.'"
III. Gaming
Web3 game developer Voya Games completes $5 million financing, led by 1kx and Makers Fund
According to Venturebeat, Web3 game developer Voya Games has completed $5 million in financing, led by 1kx and Makers Fund, with participation from RockawayX. Angel investors include Sky Mavis co-founder Jeff 'Jihoz' Zirlin and The Sandbox COO Sébastien Borget.
The funds from this financing will be used to support the development of the casual Web3 game Craft World. Craft World is a casual resource management game where players collaborate with friendly dinosaurs to rebuild civilization after a meteor destroys humanity. The game is currently in the testnet phase.
IV. DeFi
Bitcoin project Roxom Global is establishing a BTC-denominated exchange and a 24/7 media network dedicated entirely to Bitcoin development, RoxomTV.
It is reported that Draper Associates, Borderless Capital, ego death, and Kingsway Capital invested $7.9 million in its exchange and raised $10 million for RoxomTV in a private financing round.
According to The Block, the Bitcoin liquid staking protocol Rover announced the completion of a $4.1 million seed round financing, with participation from Bloccelerate, Animoca Ventures, CMS Holdings, UTXO, Maelstrom, and others.
Rover is developing a flagship liquid staking solution for Bitcoin holders on Botanix, the first fully decentralized Bitcoin blockchain. Rover has also received strategic investment from early Bitcoin venture capital fund UTXO.
V. Others
Circle co-founder Catena Labs completes $18 million seed round financing, led by a16z
According to Fortune, Catena Labs, an AI-native financial startup founded by Circle co-founder Sean Neville, has completed $18 million in seed round financing, led by the crypto division of Andreessen Horowitz, with participation from Breyer Capital, Circle Ventures, Coinbase Ventures, and American football player Tom Brady.
Catena Labs plans to build an "AI-native bank." Investors will receive equity and subscription rights for unissued cryptocurrency tokens. Sean Neville stated that the company currently has no plans to issue cryptocurrencies or stablecoins.
Catena Labs has developed an open-source protocol for AI payments and identity verification. The company will integrate but not be limited to stablecoin technology, aiming to update existing financial infrastructure to accommodate future financial transaction scenarios dominated by AI agents.
Stablecoin-native cryptocurrency exchange TrueX announced the completion of $11 million in Series A financing, led by Accomplice and RRE Ventures, with participation from Reciprocal Ventures, Variant, and payment giant PayPal. The new funds are intended to support asset protection for external custodians such as Paxos Custody. TrueX currently uses PayPal's stablecoin PYUSD as its preferred trading token, and Paxos provides third-party custody services for TrueX's users, with plans to initially open its services to U.S. institutions and certain international institutions in some regions.
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