Crypto Startups Raise $1.15 Billion in June 2025 3% Increase in Capital

In June 2025, the cryptocurrency startup ecosystem experienced a notable surge in investment activity, with blockchain and Web3 startups collectively raising $1.15 billion across 140 deals. This represented a 3% increase in total capital raised compared to May 2025 and a 9% improvement in the number of deals. The funding landscape was diverse, encompassing early-stage blockchain protocols, compliance-ready fintechs, and token-based ventures.

One of the standout deals of the month was Kalshi, a predictions market that closed a $185 million funding round at a $2 billion valuation. Backed by prominent investors such as Paradigm, Sequoia Capital, and Multicoin Capital, Kalshi's platform allows traders to bet on real-world events, ranging from political elections to sports and economic indicators. With this fresh capital, Kalshi plans to enhance its integrations with mainstream brokers and introduce new contract types, further solidifying its position in the market.

Digital Asset, another notable player, secured $135 million in strategic funding aimed at accelerating the institutional adoption of its Canton Network. This interoperable blockchain protocol is designed for enterprises and already powers tokenized real-world assets like bonds and funds. The new capital will be used to onboard more financial firms and asset classes, driving broader industry use and cementing Canton’s role as a bridge between traditional finance and decentralized ledger technology. The round was led by DRW Venture Capital and Tradeweb Markets, among other investors.

The resurgence of private token sales was another key trend in June. World Liberty Finance, the issuer of the USD1 dollar-pegged stablecoin, raised $100 million through a private token distribution. Eigen Labs, backed by a16z Crypto, pulled in $70 million to refine its zero-knowledge tooling for projects such as EigenLayer and EigenDA, highlighting the growing investor interest in privacy and scalability. Zama FHE, a cryptography-heavy startup, closed a $57 million Series B round at a $1 billion valuation. Led by Pantera Capital and Blockchange Ventures, Zama FHE focuses on fully homomorphic encryption, enabling the execution of smart contracts on encrypted data—a technology with potential applications in finance, healthcare, and government.

The increased deal count in June signals that investors are reengaging with the crypto startup ecosystem with renewed purpose. Hybrid financing models, which combine traditional equity with token distributions, are becoming the norm as founders leverage the best of both worlds. This trend is likely to persist into the second half of 2025, with the potential for intensified competition between prediction markets like Kalshi and Polymarket, as well as the continued development of enterprise-grade blockchains like Digital Asset’s Canton Network.