Crypto Funding Surges 48% in June to $4.49 Billion

Crypto fundraising has shown a remarkable recovery in the first half of 2025, with June marking a significant milestone as the sector broke above $4 billion in funding. This resurgence follows a period of slower months, indicating a renewed interest and confidence in the crypto market. The total funding for June reached $4.49 billion across 103 deals, highlighting a shift towards large-scale private rounds and late-stage financing, with more cautious seed rounds.

The trend of funding projects solely to sell tokens to exchanges is being phased out, with a greater focus on late-stage deals. Venture capital funds have remained vigilant for opportunities, driven by the rise of platforms with widely adopted products. Notable deals in June included Polymarket, Pump.fun, Kalshi, and World Liberty Fi, which closed a $100 million inflow from the Aqua 1 fund. These high-profile crypto platforms are expected to announce new large funding rounds in the coming months.

Crypto fundraising typically tracks the overall sentiment of the crypto market. After a relatively slow start to 2025, some months posted peak results. In March, total VC deals expanded to $5 billion. Even in slower months, VC fundraising was consistently above $1 billion, though some months included a concentration of large deals. Coinbase Ventures led with nine deals, followed by Pantera Capital with six funding rounds. Most deals were made in undisclosed international locations, totaling 70 rounds, while the USA saw 15 deals raising over $1.79 billion. Singapore-based projects raised a further $1.09 billion.

This time around, VC deals are driven by established use cases and signs of growth from transactions, fees, and liquidity, rather than narratives. Projects like EigenCloud, which raised $70 million in a late-stage round, exemplify this trend. For smaller projects, token sales, airdrops, and special events have returned as a viable source of funding. In the past four months, token sales raised consistently over $4 billion on a monthly basis, tapping into crypto natives and whales.

In June, a total of 174 sales raised $4.79 billion, surpassing even the level of large VC rounds. The main source of interest in token sales were the special campaigns of Binance Wallet and PancakeSwap. For the month of June, most TGE and token sales used those two platforms, achieving the highest returns. Binance Wallet projects posted gains of 483% on average, while PancakeSwap achieved 228.5%. The success of token sales relied on concentrating most of the opportunities on a single platform, having a guaranteed pool of buyers. Most projects have abandoned ICO attempts outside the top platforms, which give them the biggest exposure to liquidity.

The revival in crypto fundraising can be attributed to several factors. Firstly, the increasing acceptance of digital assets by mainstream financial institutions has created a more favorable environment for crypto projects to secure funding. Secondly, the diversification of digital asset portfolios by venture capital firms and other investors has opened up new avenues for crypto startups to raise capital. This trend is evident in the diverse range of deals closed in June, which included both established players and emerging projects.

The $4.49 billion raised in June represents a substantial increase compared to previous months, highlighting the growing confidence in the crypto sector. This influx of capital is expected to fuel further innovation and development within the industry, as startups and established companies alike look to capitalize on the renewed interest in digital assets. The return to token sales, in particular, suggests that investors are once again willing to take on the risks associated with this form of fundraising, in exchange for the potential rewards.

The resurgence in crypto fundraising is also indicative of a broader trend towards digital transformation in the financial sector. As more traditional financial institutions explore the potential of blockchain technology and digital assets, the demand for crypto-related services and solutions is likely to continue to grow. This, in turn, is expected to drive further investment in the sector, as startups and established companies look to capitalize on the opportunities presented by this emerging market.

In conclusion, the revival of crypto fundraising in the first half of the year, culminating in a record-breaking $4.49 billion raised in June, signals a renewed confidence in the sector. The return to token sales and the diversification of digital asset portfolios by investors are key drivers of this trend, which is expected to fuel further innovation and development within the industry. As the demand for crypto-related services and solutions continues to grow, the sector is poised for further growth and expansion in the coming years.