Emerging Peter Thiel-Backed Crypto Startups: Strategic Positioning and First-Mover Advantages in DeFi Infrastructure

The crypto landscape in 2025 is witnessing a surge in DeFi infrastructure projects backed by Peter Thiel, the venture capitalist known for identifying disruptive innovation. Thiel's investments in startups like Plasma, Avantis, Bullish, and ETHZilla underscore a strategic focus on solving critical pain points in decentralized finance—scalability, liquidity, and real-world asset (RWA) integration. These ventures are not merely speculative bets; they represent calculated moves to capture first-mover advantages in a rapidly evolving market.

Plasma: Redefining Stablecoin Infrastructure for Financial Inclusion

Plasma, a Thiel-backed startup, has emerged as a leader in stablecoin infrastructure with its Bitcoin-based blockchain, Plasma One. By addressing scalability and high-fee issues plaguing existing stablecoin networks, Plasma has secured $373 million in investment commitments and achieved a total value locked (TVL) of over $2.5 billion at launch Peter Thiel-Backed Crypto Startup’s Quiet Power Move^[1]. Its platform offers high-yield savings, cashback rewards, and free transfers, targeting underbanked populations in emerging markets. According to a report by TheStreet, Plasma's focus on financial inclusion aligns with global trends toward digital dollar adoption, positioning it to dominate the stablecoin layer of DeFi Peter Thiel-backed crypto startup quietly makes big move^[3].

Avantis: Building DeFi's Universal Leverage Layer

Avantis, a decentralized perpetuals exchange on the Base network, has raised $8 million in a Series A round co-led by Thiel's Founders Fund Avantis Raises $8M in Series A Funding to Build DeFi’s Universal Leverage Layer for Real World Assets & Markets^[2]. The platform's zero-fee perpetuals (ZFPs) and loss rebates create a unique economic model that aligns incentives between traders and liquidity providers (LPs). By June 2025, Avantis had facilitated over $6.5 billion in trading volume, with plans to expand into equities, sports, and prediction markets Avantis Raises $8M in Series A Funding to Build DeFi’s Universal Leverage Layer for Real World Assets & Markets^[2]. As stated by TheBlock, Avantis' synthetic AMMs and cross-margining features are redefining on-chain leverage trading, offering a sustainable alternative to centralized exchanges Avantis: The onchain Leverage Layer for Every Asset^[5].

Bullish: Bridging Crypto and Public Markets

Bullish, a crypto exchange backed by Thiel, completed a $1.15 billion IPO in 2025, with a valuation of $13.16 billion Peter Thiel Backs $1.15B Bullish IPO, Opening Crypto IPO Era^[6]. This landmark event marked the first major crypto IPO settled in stablecoins on the Solana network, signaling growing institutional acceptance. Bullish's hybrid model combines the transparency of DeFi with the regulatory compliance of traditional markets, appealing to both retail and institutional investors. Data from GFMag highlights that Bullish's IPO has opened a new era for crypto-native companies seeking public market access Peter Thiel Backs $1.15B Bullish IPO, Opening Crypto IPO Era^[6].

ETHZilla: Institutional Adoption of Liquid Restaking

ETHZilla, a Nasdaq-listed company backed by Thiel, deployed $100 million worth of Ethereum into EtherFi's liquid restaking protocol in September 2025 Thiel-Backed ETHZilla Puts $100M ETH Into EtherFi Restaking^[4]. This move represents a significant step toward mainstream adoption of DeFi infrastructure, as institutional players seek yield optimization strategies. By leveraging Ethereum's restaking capabilities, ETHZilla is positioning itself as a bridge between traditional finance and decentralized protocols, enhancing capital efficiency for large-scale investors Thiel-Backed ETHZilla Puts $100M ETH Into EtherFi Restaking^[4].

Strategic Positioning and First-Mover Advantages

The startups above exemplify Thiel's strategy of backing projects with defensible moats and scalable use cases. Plasma's focus on stablecoin infrastructure targets a $100 billion market, while Avantis' universal leverage layer addresses fragmented liquidity in derivatives trading. Bullish's IPO and ETHZilla's restaking initiatives demonstrate how DeFi is evolving to meet institutional demands. These ventures benefit from Thiel's network, early-stage capital, and a first-mover advantage in niche but high-growth segments of the DeFi ecosystem.

Conclusion

As DeFi infrastructure matures, Thiel-backed startups are setting the pace for innovation. Their ability to solve real-world problems—whether through scalable stablecoin networks, universal leverage layers, or institutional-grade exchanges—positions them to capture significant market share. For investors, these projects represent not just speculative opportunities but foundational assets in the next phase of financial decentralization.