FxWirePro- Key Crypto fundraising events

Date: June 10, 2025

Major Fundraising Rounds

Tier 1 - Large Scale Funding ($100M+)

SharpLink Gaming - $425M

• Sector: Gaming
• Description: SharpLink is one of the first blockchain gaming companies to develop a treasury strategy centered on ETH.
• Key Backers: Coinbase Ventures, Binance Labs, Animoca Brands

Turnkey - $30M

• Sector: Infrastructure
• Description: Turnkey is a company that aims to help developers build user-friendly wallets using APIs.
• Key Backers: Paradigm, Coinbase Ventures, Binance Labs

Tier 2 - Mid-Scale Funding ($10M-$99M)

IOST - $21M

• Sector: Blockchain Platform
• Description: IOST is building an ultra-high TPS blockchain network to meet the security and scalability needs of a decentralized economy.
• Key Backers: Sequoia Capital, Matrix Partners, ZhenFund

Rails - $14M

• Sector: DeFi/Trading
• Description: Rails is a self-custodial crypto exchange that offers a centralized order book for institutional execution.
• Key Backers: Dragonfly Capital, Coinbase Ventures, Binance Labs

Tier 3 - Growth Stage Funding ($1M-$9M)

Avantis - $8M

• Sector: DeFi/Trading
• Description: Avantis is a decentralized leverage trading platform for cryptocurrencies and Forex.
• Key Backers: Mechanism Capital, Defiance Capital, Binance Labs

3Jane - $6.7M

• Sector: DeFi Protocol
• Description: 3Jane is a DeFi protocol on Ethereum that introduces a novel approach to lending by offering uncollateralized loans.
• Key Backers: Paradigm, Coinbase Ventures, Binance Labs

Sunrise - $3M

• Sector: Data Availability
• Description: Sunrise is a specialized Data Availability (DA) Layer designed to enhance security and liquidity in blockchain native and L2 solutions.
• Key Backers: Lemniscap, Placeholder, Zephyr Capital

Tier 4 - Early Stage Funding

OneKey - TBA (To Be Announced)

• Sector: Hardware Wallet
• Description: OneKey is an open-source hardware wallet focused on crypto security and enabling self-custody for users globally.
• Key Backers: Binance Labs

Funding Analysis

Total Funding Tracked: $507.7M+

• Average Round Size: $63.5M
• Largest Round: SharpLink Gaming ($425M)
• Most Active Sector: DeFi/Trading (4 companies)

Top Investor Activity

• Binance Labs: Present in 6 out of 8 rounds
• Coinbase Ventures: Present in 5 out of 8 rounds
• Paradigm: Present in 2 out of 8 rounds

Sector Distribution

• Gaming: 19.6% ($425M)
• Infrastructure: 13.8% ($30M)
• DeFi/Trading: 32.1% ($29.7M)
• Blockchain Platforms: 9.7% ($21M)
• Hardware/Security: TBA

Key Market Trends

1. Gaming Dominance: SharpLink's $425M round represents the largest single funding event, highlighting continued institutional interest in blockchain gaming.

2. Infrastructure Focus: Multiple companies (Turnkey, IOST, Sunrise) are building foundational blockchain infrastructure.

3. DeFi Evolution: Projects are moving toward more sophisticated trading and lending mechanisms with better user experience.

4. Institutional Participation: Major crypto VCs like Binance Labs and Coinbase Ventures are actively participating across multiple rounds.

5. Self-Custody Trend: Both Rails and OneKey focus on self-custodial solutions, reflecting the market's emphasis on user control.
   Source: CryptoDep Analytics