Last week, there were a total of 20 public financing events in the cryptocurrency market, raising approximately $606 million | Investment and Financing Weekly Report
The Solana ecosystem AI platform Assisterr has completed a $2.8 million funding round, with participation from Outlier Ventures; Naoris Protocol has completed a $3 million strategic funding round, led by Mason Labs; the quantitative strategy sharing platform Neutral Trade has completed a $2 million funding round.Organizer: Luan Peng, RootData
According to incomplete statistics from RootData, during the period from May 26 to June 1, 2025, there were a total of 20 public financing events in the blockchain and cryptocurrency industry, with a total financing amount of approximately $606 million.
From the perspective of sector distribution, the projects that received financing are mainly concentrated in the infrastructure and AI sectors. Popular projects include Bitcoin smart multi-signature wallet operator Asigna, smart crypto trading tool Alph.AI, game publishing platform Oncade, and Solana ecosystem quantitative strategy sharing platform Neutral Trade.
In addition, the Solana ecosystem token issuance platform Cooking.City completed a $7 million financing round, with participation from Jump, CMT Digital, Mirana, Bitscale Capital, and EVG.
*(List of projects with financing greater than $5 million last week, data source: * Rootdata）
1. Infrastructure
Oak Grove Ventures invests in parallel EVM Reddio to support technological ecosystem development
Blockchain investment firm Oak Grove Ventures announced a strategic investment in the Ethereum-compatible Layer 2 blockchain Reddio. Reddio, based on zero-knowledge proofs, aims to solve Ethereum's scalability issues, with its parallel EVM architecture combined with GPU acceleration significantly enhancing transaction processing capabilities. This investment will help Reddio expand its ecosystem and accelerate the implementation of Web3 applications.
According to Cointelegraph, the Solana-based AI platform Assisterr announced the completion of a $2.8 million financing round, with a company valuation of $75 million. This round of financing was participated in by Google for Startups, Outlier Ventures, Web3.com, Echo.xyz, Moonhill Capital, and others.
ChainCatcher previously reported that Binance Alpha will launch Assisterr AI (ASRR), with the trading opening date set for May 30, with specific timing to be announced later. Eligible users need to use Binance Alpha points to claim airdrops on the Alpha event page, which will go live on May 30.
Naoris Protocol completes $3 million strategic financing, led by Mason Labs
According to Decrypt, Naoris Protocol announced the completion of a $3 million strategic financing round led by Mason Labs, with participation from Frekaz Group, Level One Robotics, and Tradecraft Capital. This round of financing was completed after six months of technical due diligence and was opened for a new round of institutional financing due to oversubscription.
It is reported that Naoris Protocol is a quantum-resistant blockchain and cybersecurity mesh architecture that provides plug-and-play security solutions, protecting any EVM blockchain or enterprise system without the need for hard forks.
Bitcoin smart multi-signature wallet operator Asigna announced the completion of $3 million in financing, led by Hivemind Capital and Tykhe Block Ventures, with participation from Sats Ventures, Trust Machines, and others.
It is reported that the new version will allow users to interact directly with Bitcoin applications through embedded applications, support direct exchanges between Bitcoin and assets, and provide connection and multi-signature SDKs, adding features such as sub-accounts, governance, and privacy modes.
2. AI
Smart crypto trading tool Alph.AI completes $2 million strategic financing, led by Bitrue
According to Chainwire, smart crypto trading tool Alph.AI announced the completion of $2 million in strategic financing, led by Bitrue.
The new funds are intended to promote the platform's AI capabilities to help users identify high-potential tokens early.
Proxy crypto browser Donut Labs completes $7 million seed round financing, led by HSG
According to Cointelegraph, proxy crypto browser Donut Labs announced the completion of a $7 million seed round financing, led by HSG, Bitkraft, and HackVC, with participation from Matrix Partners, Sky9 Ventures, Makers Fund, and SonicSVM.
The new funds will support the development of Donut, an AI-driven executable crypto browser that features a native cryptocurrency wallet, decentralized exchange integration, decentralized network access, and on-chain execution.
3. Gaming
Game publishing platform Oncade completes $4 million financing, led by a16z crypto CSX
Game publishing platform Oncade completed $4 million in financing, led by a16z crypto CSX.
Oncade aims to help game studios increase revenue by enhancing player engagement and community interaction. The core idea is to break the traditional distribution model of gaming platforms through community-driven approaches, building a game store directly for players.
According to GlobenewsWire, sports betting operator SharpLink Gaming, Inc. (NASDAQ: SBET) announced today that it has signed a securities purchase agreement for a $425 million public company private investment (PIPE), planning to issue approximately 69.1 million shares of common stock (or equivalent securities) at a price of $6.15 per share (with company management team members at $6.72 per share).
Consensys Software Inc. led the investment as a major investor, with participation from well-known crypto venture capital firms such as ParaFi Capital, Electric Capital, Pantera Capital, and Galaxy Digital. The transaction is expected to be completed on May 29.
SharpLink plans to use the raised funds to purchase Ethereum as the company's primary treasury reserve asset. After the transaction is completed, Ethereum co-founder and Consensys founder and CEO Joseph Lubin will serve as the chairman of SharpLink's board and will assist the company in developing its core business as a strategic advisor.
4. DeFi
Quantitative strategy sharing platform Neutral Trade completes $2 million financing
According to official news, Solana ecosystem quantitative strategy sharing platform Neutral Trade completed $2 million in financing, with angel investors from projects such as Perena, Drift, and Pyth participating.
The team will use the funds to continue developing a full suite of delta-neutral, directional, ETF-style, and structured products based on perpetual indices and CEX, operated by a decentralized strategy operation team carefully curated by the team and community.
Stablecoin issuer Avalon Labs completes strategic round financing, led by YZi Labs
Bitcoin stablecoin issuer Avalon Labs recently completed a strategic round of financing, led by YZi Labs, with participation from Mirana, CE Innovation Capital, and GSR. The funds raised will be used to advance the platform's compliance process, including applying for regional financial licenses and preparing for public fundraising, aiming to lay the foundation for building an on-chain compliant Bitcoin financial institution. Avalon Labs stated that it will further expand institutional lending services, increase market coverage, and continue to promote the construction of Bitcoin financial infrastructure.
In news from yesterday, YZi Labs announced its investment in Avalon Labs. According to its introduction, Avalon currently serves over 20,000 BTC, has over 300,000 active users, and a total locked value exceeding $500 million, with its Bitcoin stablecoin USDa becoming the second-largest CDP project on DeFiLlama.
5. Others
Mask Network completes strategic acquisition of Lens chain native social application Orb.club
According to official news, decentralized social pioneer Mask Network has completed a strategic acquisition of the Lens chain native social application Orb.club. This acquisition marks a key step in Mask Network's journey to build a user-driven internet ecosystem through its social ecological matrix MaskDAO, reshaping the value flow of the creator economy by integrating the most vibrant social layer of the Web3 era.
It is reported that as the mobile social application with the largest user base on the Lens protocol, Orb.club surpassed 50,000 monthly active users in early 2025, firmly holding the top spot among Web3 native social applications. After joining the MaskDAO ecological matrix, Orb will form synergies with core components such as Next.ID (decentralized identity), Web3.bio (on-chain profile search), and Firefly.social (Web3 all-in-one application) to jointly build a "Web3 version of Tencent" social landscape.
Mask Network builds a bridge connecting Web2 and Web3 by allowing users to directly use decentralized applications, encrypted communication, and payment tools on traditional social platforms. Its ecosystem is governed by MaskDAO and includes a series of applications such as Next.ID, Web3.bio, Firefly.social, and new member Orb.club. Through venture capital firm Bonfire Union, Mask continues to invest in decentralized social networks and infrastructure, aiming to make Web3 technology accessible to global users.
Solana ecosystem token issuance platform Cooking.City completed $7 million in financing, with participation from Jump, CMT Digital, Mirana, Bitscale Capital, and EVG. Cooking.City aims to reshape the token issuance mechanism by proposing a new on-chain issuance model that is sustainable, incentivized, and community-centered.
The new model proposed by Cooking.City includes: value redistribution (redistributing most platform fees back to developers and users), "confidence pool" mechanism (token issuers must deposit a certain amount of funds in the smart contract in advance), and a social-based value distribution system (introducing a referral commission system and redistributing fees within the ecosystem, with most fees used for community referrals and trading rewards, part returned to token issuers, and the rest invested in the platform's long-term development).
Bitcoin company Twenty One raised an additional $100 million through convertible preferred secured notes, bringing its total financing to $685 million. According to documents from the U.S. Securities and Exchange Commission (SEC), the new financing comes from existing investors and sponsors who exercised their option to purchase more notes, which was initially granted in the financing round in April.
Twenty One Capital was launched by Cantor's Brandon Lutnick through a SPAC structure, with well-known owners including iFinex and Tether, and led by Strike CEO Jack Mallers.
Naoris Protocol completes $3 million strategic financing, led by Mason Labs
According to Decrypt, Naoris Protocol announced the completion of a $3 million strategic financing round led by Mason Labs, with participation from Frekaz Group, Level One Robotics, and Tradecraft Capital. This round of financing was completed after six months of technical due diligence and was opened for a new round of institutional financing due to oversubscription.
It is reported that Naoris Protocol is a quantum-resistant blockchain and cybersecurity mesh architecture that provides plug-and-play security solutions, protecting any EVM blockchain or enterprise system without the need for hard forks.
According to PR Newswire, Bitcoin native infrastructure BlockSpaces announced the completion of a $2 million strategic round financing, led by Axiom, with participation from Leadout Capital, Sand Harbor Capital, and Lisa Hough of Eberly Energy Ventures and Bob Burnett of Barefoot Mining.
To date, the company has raised a total of $10 million, with the new funds intended to support the launch of its Bitcoin native collateral and risk management platform ARCC aimed at institutions.
Stablecoin company Conduit completes $36 million Series A financing, led by Dragonfly Capital
Stablecoin company Conduit announced the completion of $36 million in Series A financing, led by Dragonfly Capital, with participation from Sound Ventures, Altos Ventures, DCG, and Commerce Ventures. This Series A financing brings Conduit's total financing to $53 million, and the company did not disclose the valuation of this round.
Conduit's goal is to provide global enterprises with faster, more economical, and more reliable cross-border payment services, using stablecoins (a type of cryptocurrency designed to maintain value parity with the U.S. dollar) for international payment settlements, striving to complete transactions faster than traditional banks.
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