Crypto Funding Booms with Bullish's $1.1B IPO and Story Protocol's $82M Token Sale

Crypto funding surged with nearly $1.5 billion invested in 18 projects, led by Bullish's $1.1 billion NYSE debut and Story Protocol's $82 million token-driven partnership with Heritage Distilling. Other notable deals include 1Kosmos' $57 million Series B round, Sui's $20 million funding, Neon Machine's $19.5 million round, and Transak's $16 million strategic round.

Crypto funding has seen a significant surge, with nearly $1.5 billion invested in 18 projects, marking a robust period of growth and innovation in the sector. This wave of investment was led by Bullish's blockbuster NYSE debut, which raised $1.1 billion, and Story Protocol's $82 million token-driven partnership with Heritage Distilling [1].

Other notable deals included 1Kosmos' $57 million Series B round, Sui's $20 million funding, Neon Machine's $19.5 million round, and Transak's $16 million strategic round [2]. These investments underscore the growing interest from institutional investors and venture capital firms in the crypto space.

The Bullish exchange, which serves primarily institutional clients, made a blockbuster debut on the New York Stock Exchange, surging nearly 90% by the end of its first trading day and achieving a market valuation of nearly $13.2 billion [2]. The success of Bullish's IPO was driven by strong institutional demand and a favorable regulatory backdrop, as crypto assets continue to gain traction among traditional financial institutions and corporate investors [2].

Heritage Distilling's partnership with Story Protocol is another significant development. Heritage Distilling, a Nasdaq-listed company, is allocating $82 million of its $220 million PIPE financing to purchase $IP tokens from Story Foundation at a fixed price of $3.40 per token [3]. This strategic investment reflects a broader shift in how public companies approach strategic reserves, not just as stores of value, but as vehicles for growth, yield, and long-term alignment with transformative technologies [3].

These investments highlight the sector's resilience and potential for further growth, with several other platforms like Gemini and Grayscale exploring public offerings. The success of Bullish may encourage more crypto firms to pursue traditional capital market listings as a means of raising capital and increasing visibility [2].

References:
[1] https://coinmarketcap.com/community/articles/68a0c11a70b00453bc801833/
[2] https://www.ainvest.com/news/bullish-crypto-exchange-surges-90-nyse-debut-valued-13-2-billion-2508/
[3] https://www.businesswire.com/news/home/20250811196041/en/Heritage-Distilling-Nasdaq-CASK-and-Story-Foundation-Announce-the-Launch-of-%24360M-%24IP-Token-Reserve-With-Participation-from-a16z-crypto-and-Other-Prominent-Investors