Last week, there were a total of 16 public financing events in the cryptocurrency market, raising approximately $1.005 billion | Investment and Financing Weekly Report
American game company Spekter Games has completed a $5 million funding round, led by a16z speedrun; Canton Network developer Digital Asset has completed a $135 million strategic financing, led by DRW Venture Capital and others; Nano Labs has signed a $500 million convertible note private placement financing for BNB strategic reserves.Organizer: Luan Peng, RootData
According to incomplete statistics from RootData, during the period from June 23 to June 29, 2025, there were a total of 16 public financing events in the blockchain and cryptocurrency industry, with a total financing amount of approximately $1.005 billion.
From the perspective of track distribution, the projects that received financing are mainly distributed in the DeFi and gaming sectors. Popular projects include the on-chain derivatives trading platform Sphinx, the well-known crypto venture capital firm Paradigm, the cryptocurrency startup Blueprint Finance, and the on-chain derivatives trading platform Sphinx.
In addition, the crypto payroll platform Niural recently completed a $31 million Series A financing round, led by Marathon Management Partners. The company focuses on developing a global PEO (Professional Employer Organization) and payment platform, integrating AI technology with a proprietary tax engine.
(List of projects with financing greater than $5 million last week, data source: Rootdata)
I. DeFi
According to official news, the on-chain derivatives trading platform Sphinx announced the completion of $2 million in Pre-Seed financing, led by Eckhardt Capital, with participation from Big Brain Holdings, Blockchain Founders Fund, Blizzard, TRIVE Ventures, Cosmos Hub, London Real Ventures, GS Futures, and individuals such as Andrew Durgee, Stefan Rust, and Zachary Keats.
Sphinx is building an energy commodity derivatives exchange based on its self-developed licensed Layer 1, supporting futures and perpetual contracts for markets such as oil and gas. The funds will be used for mainnet launch and institutional partnership expansion.
MegaETH ecosystem DEX GTE completes $15 million Series A financing, led by Paradigm
According to The Block, the well-known crypto venture capital firm Paradigm exclusively led the $15 million Series A financing for the decentralized exchange startup GTE.
The founding team of GTE stated that the platform adopts a centralized limit order book (CLOB) mechanism, with trading latency comparable to centralized exchanges like Binance and Coinbase, while maintaining decentralized characteristics.
GTE aims to address the "blind trust" in centralized exchanges and the high latency and costs of traditional DEXs. The platform has been built on the EVM-compatible MegaETH blockchain, attracting approximately 700,000 users to its testnet.
ChainCatcher previously reported that the decentralized exchange GTE based on the MegaETH blockchain has raised $10 million through three rounds of financing, including $1.5 million in Pre-Seed financing, $6.942 million in seed financing, and $2.5 million in community financing from Echo.
GTE's investors include Maven 11, Wintermute, Flow Traders, Robot Ventures, IMC Trading, Guy Young from Ethena, Max Resnick from Anza, and undisclosed traders from Jump Trading.
DeFi company Blueprint Finance completes $9.5 million financing, led by Polychain Capital
According to Fortune, the cryptocurrency startup Blueprint Finance announced the completion of $9.5 million in financing, with this round led by Polychain Capital, and participation from YZi Labs and VanEck.
Blueprint Finance was founded in 2023 by CEO Nic Roberts-Huntley, focusing on simplifying the asset appreciation process for cryptocurrency investors. The company has launched two products: Concrete, a lending service targeting the Ethereum ecosystem, and Glow, a lending platform based on the Solana blockchain.
The company plans to use the new funds for hiring, engineering development, and marketing. With the previous $7.5 million financing, Blueprint Finance's total financing amount has reached $17 million.
DeFi infrastructure company Veda completes $18 million financing, led by CoinFund
According to CoinDesk, DeFi infrastructure company Veda announced the completion of $18 million in financing, led by CoinFund.
The company aims to simplify DeFi yields for cross-blockchain applications and institutions. The new funds are intended to support its platform in enabling applications and institutions to offer simplified crypto yield products, including a modular vault framework where developers can create smart contracts to manage yield strategies without exposing users to the complexities of DeFi.
II. Gaming
American gaming company Spekter Games completes $5 million financing round, led by a16z speedrun
According to Business Wire, Spekter Games Inc. announced the completion of a $5 million pre-seed financing round and launched its first Web3 game, Spekter Agency. This round of financing attracted participation from many well-known investment institutions, including a16z speedrun, London Venture Partners, BRV Capital, Chamaeleon, Accelerator Ventures, Impact46, Versus Ventures, and Alumni Ventures.
The funds raised will enable Spekter Games to expand Spekter Agency to more platforms, including other chat-based super apps and traditional mobile stores like the App Store and Google Play. Additionally, this funding will support the ongoing development of the publisher's second game, which is already in progress.
III. Derivatives
According to official news, the on-chain derivatives trading platform Sphinx announced the completion of $2 million in Pre-Seed financing, led by Eckhardt Capital, with participation from Big Brain Holdings, Blockchain Founders Fund, Blizzard, TRIVE Ventures, Cosmos Hub, London Real Ventures, GS Futures, and individuals such as Andrew Durgee, Stefan Rust, and Zachary Keats.
Sphinx is building an energy commodity derivatives exchange based on its self-developed licensed Layer 1, supporting futures and perpetual contracts for markets such as oil and gas. The funds will be used for mainnet launch and institutional partnership expansion.
IV. Social
YZi Labs announces investment in decentralized entertainment platform MEET48
According to official news, YZi Labs announced an investment in MEET48, a decentralized entertainment platform from the BNB Chain MVB (Most Valuable Builder) accelerator, aimed at addressing challenges in fan interaction through token-driven solutions.
This round of financing will accelerate the development of MEET48 and further enrich its Web3 fan experience through virtual performances, idol cultivation games, and real-world events.
V. Others
The crypto payroll platform Niural recently completed a $31 million Series A financing round, led by Marathon Management Partners. The company focuses on developing a global PEO (Professional Employer Organization) and payment platform, integrating AI technology with a proprietary tax engine.
Company data shows that Niural's ARR has grown by 700% over the past year, with clients including Tensor, Polygon Labs, and Karate. Following this round of financing, Gokul Rajaram will join the Niural board. It is reported that the financing funds will be used for further developing an AI-native intelligent system aimed at CFOs and expanding global business reach.
Kalshi to complete $100 million financing at a $1 billion valuation, supported by Paradigm
According to market news, Paradigm will support the compliant prediction market Kalshi in completing $100 million in financing at a valuation of over $1 billion.
Nano Labs signs $500 million convertible note private placement for BNB strategic reserve
Nano Labs Ltd (NASDAQ: NA) announced that it has signed convertible note subscription agreements with multiple investors to issue a total of $500 million in convertible notes. The notes have a term of 360 days, with no interest accruing on the principal before maturity. Holders can choose to convert the notes into Class A common stock of the company at an initial conversion price of $20 per share.
Nano Labs plans to initially use this financing and private placement to acquire $1 billion worth of BNB, aiming to hold 5% to 10% of the total circulating supply of BNB for the long term.
According to CoinDesk, Digital Asset, the developer of the privacy blockchain Canton Network, announced the completion of $135 million in strategic financing, led by DRW Venture Capital and Tradeweb Markets, with participation from well-known traditional finance and crypto firms such as BNP Paribas, Circle Ventures, Citadel Securities, DTCC, Virtu Financial, and Paxos.
Canton Network, centered on configurable privacy, has attracted multiple companies, including Goldman Sachs and BNY Mellon, to test RWAs on its platform. This financing will help Canton Network further expand the coverage of RWAs, which currently includes asset classes such as bonds, money market funds, alternative funds, commodities, repurchase agreements, mortgages, life insurance, and annuities.
According to Web3 asset data platform RootData, Digital Asset is a blockchain software and services provider that helps enterprises create economic value through the internet. Digital Asset's products are built on Daml, a leading platform for building and running complex multi-party applications using innovative smart contract languages and tools. Daml features privacy and top-notch SDKs to ensure that all participants in applications remain synchronized and have access to reliable real-time data.
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