Last week, there were a total of 16 public financing events in the cryptocurrency market, with a cumulative financing of approximately 169 million USD | Investment and Financing Weekly Report
Stablecoin startup Ubyx has completed a $10 million seed round financing, led by Galaxy Ventures; DePIN project SparkChain AI has completed $10.8 million in financing, led by OakStone Ventures; cryptocurrency savings app Nook has completed $2.5 million in financing, with participation from Coinbase Ventures and others.Organizer: Luan Peng, RootData
According to incomplete statistics from RootData, during the period from June 16 to June 22, 2025, there were a total of 16 public financing events in the blockchain and cryptocurrency industry, with a total financing amount of approximately $169 million.
From the perspective of sector distribution, the projects that received financing are mainly concentrated in the infrastructure and AI sectors. Notable projects include the blockchain startup Units.Network, the cross-border settlement infrastructure project XFX, the Base chain game launch platform Uptopia, and the quantum computing security company Project Eleven.
In addition, the Web3 protocol Thousands announced a joint completion of $9 million in financing with the Web3 game development company The Wildcard Alliance, with this round of financing co-led by Arbitrum Gaming Ventures and Paradigm.
(List of projects with financing greater than $5 million last week, data source: Rootdata)
1. Infrastructure
Tools for Humanity Acquires Dawn Wallet
Worldcoin contributor Tools for Humanity announced the acquisition of Dawn Wallet. Dawn Wallet will gradually shut down in the coming weeks and provide comprehensive support for the transition of personal assets. Additionally, Dawn Wallet founders Tom Waite and Isaac Rodriguez have joined Tools For Humanity.
Web3 Open Source Tool Stackup Completes $4.2 Million Seed Round Financing, Led by 1kx
According to Decrypt, the Web3 open source tool Stackup, founded by former SpaceX mission manager John Rising, has completed a $4.2 million seed round financing, led by 1kx, with participation from Y Combinator and Digital Currency Group.
The platform provides a "centralized control" solution for decentralized assets through account abstraction technology, supporting features such as spending limits and batch transaction reviews.
Rising emphasized the importance of system security design based on his aerospace engineering experience, pointing out that the current crypto field overly focuses on security protection while neglecting operational safety. The Stackup team currently consists of four members, and their technology has previously been applied in the development of wallets for Coinbase and Trust Wallet.
Blockchain Startup Units.Network Completes $10 Million Financing, Led by Nimbus Capital
According to Techinasia, blockchain startup Units.Network has completed $10 million in financing, with this round led by Nimbus Capital, and other specific details have not been disclosed.
The funds from this round will be used to strengthen infrastructure and support the development of AI-driven products, including AI Launchpad and AI Liquidity Manager, both of which are set to launch later this year. This funding will also help expand validator capabilities and improve cross-chain liquidity.
According to Decrypt, the TON network expansion project TAC announced that it has raised a total of $11.5 million in seed and strategic rounds, with the latest $5 million strategic round led by Hack VC.
The project aims to provide EVM-compatible DeFi infrastructure for the TON and Telegram ecosystems, planning to gradually open features through a phased mainnet launch. TAC has specifically developed a Telegram mini-app interface, allowing traditional users to directly use DeFi services within the messaging software.
According to official news, the cross-border settlement infrastructure project XFX has officially launched and completed $9.1 million in seed round financing. This round was led by Haun Ventures and Castle Island Ventures, with participation from Oak HC/FT, MAYA Capital, Coinbase Ventures, Paxos, Bitso, and others.
XFX focuses on building institutional-grade cross-border settlement infrastructure, aiming to promote the future development of global capital flows. The specific technical details and application scenarios of the project have not been disclosed, but its support from several well-known blockchain investment institutions indicates ongoing market interest in cross-border payment solutions.
According to Forbes, Eigen Labs announced the launch of the Ethereum re-staking protocol EigenCloud, with a16z crypto investing $70 million through direct purchase of EIGEN tokens, marking a16z's follow-up investment after investing $100 million in EigenLayer in February 2024.
This platform aims to extend blockchain-level trust assurance to any Web2 or Web3 application, with the use of EigenCloud creating new fee streams to support staking rewards.
It is reported that the Alpha version of EigenCloud will be released in sync with the performance upgrade of EigenDA, achieving a throughput of 50 MB per second on the Ethereum testnet. Additionally, EigenCloud has released a gated preview of EigenVerify, aimed at adjudicating disputes in off-chain systems such as AI agents or prediction markets.
Stablecoin Startup Ubyx Completes $10 Million Seed Round Financing, Led by Galaxy Ventures
According to Bloomberg, stablecoin startup Ubyx, founded by former Citigroup executive Tony McLaughlin, has completed $10 million in seed round financing, led by Galaxy Ventures, with participation from Founders Fund, Coinbase Ventures, Paxos, and VanEck. The company aims to build a clearing system that connects stablecoin issuers with banks and fintech companies to address interoperability issues in payment scenarios.
Ubyx plans to establish a global stablecoin acceptance network similar to Visa and Mastercard, enabling stablecoins issued by various institutions to circulate across platforms. Its system will support blockchains such as Solana, Base, Canton, and XRP Ledger, and has already partnered with stablecoin issuers like Paxos and Ripple. The network is expected to go live by the end of the year and will also be compatible with other forms of digital assets, including central bank digital currencies.
The Blockchain Group (@_ALTBG) announced today that it has completed a capital increase of approximately €7.2 million through an "ATM-type" capital increase plan in collaboration with TOBAM, with an average share price of approximately €4.49. This move aims to further advance its Bitcoin financial company strategy.
Robotic Intelligence Platform PrismaX Completes $11 Million Seed Round Financing, Led by a16z
The robotic intelligence platform PrismaX has completed $11 million in seed round financing led by a16z crypto CSX, with participation from Volt Capital, Stanford Blockchain Accelerator, Symbolic Capital, and Virtuals Protocol, among others.
PrismaX focuses on building decentralized data incentive mechanisms to promote the standardization of robotic visual data and the development of remote control infrastructure, aiming to achieve efficient training and large-scale deployment of physical AI models.
2. AI
DePIN Project SparkChain AI Completes $10.8 Million Financing, Led by OakStone Ventures
According to AccessnewsWire, SparkChain AI successfully raised $10.8 million in a financing round led by OakStone Ventures. The funds will be used to expand its decentralized AI computing network, optimize real-time AI processing, and establish key partnerships.
SparkChain AI's Sovereign Data Rollup architecture utilizes unused internet bandwidth and idle computing resources to address the high costs, latency, and centralization risks faced by traditional cloud systems. The network is set to launch on Solana, aiming for deeper integration with high-performance, low-cost on-chain environments.
According to The Block, the Web3 AI data infrastructure platform PublicAI has completed $8 million in Series A financing, with investors including Saudi Telecom Group, Blockchain Builders Fund, Tykhe Blocks Ventures, NEAR Foundation, Taisu Ventures, MH Ventures, YGG, CSP DAO, IBC Group, G20, Whitewater Labs, and UXLink. Previously, it had secured $2 million in initial financing from IOBC Capital, Foresight Ventures, and the Solana Foundation.
PublicAI will launch the world's first decentralized brainwave data collection device, HeadCap, to promote the development of the next generation of brain-computer interfaces (BCI).
3. DeFi
DeFi Protocol BitVault Completes $2 Million Pre-seed Round Financing, Investors Include GSR
According to Cointelegraph, the DeFi protocol BitVault announced the completion of $2 million in pre-seed financing, with investors including GSR, Gemini, Auros, and Keyrock.
BitVault will launch an over-collateralized stablecoin bvUSD supported by Bitcoin derivatives and its yield-bearing variant sbvUSD. The protocol will be deployed on a new decentralized finance chain Katana, incubated by Polygon Labs and GSR, utilizing a permissioned fork of Liquity V2 to achieve permissioned lending, user-set interest rates, and automatic liquidation infrastructure.
BitVault plans to deploy on the Katana mainnet in June 2025 and is actively bringing in institutional borrowers.
4. Gaming
According to Venturebeat, Web3 protocol Thousands announced a joint completion of $9 million in financing with the Web3 game development company The Wildcard Alliance, with this round co-led by Arbitrum Gaming Ventures and Paradigm.
It is reported that these two companies are headquartered in McKinney, Texas, and were co-founded by co-CEOs Paul and Katy Drake Bettner, who were involved in the development of games such as "Words With Friends," "Lucky's Tale," and "Age of Empires." They have currently secured $6.5 million in financing and expect to complete the remaining financing within the next 60 days.
The funds from this round will be used to accelerate the development of their comprehensive product ecosystem, leveraging the Thousands protocol and Thousands.tv platform to create new user acquisition channels centered around creators and assist in launching their upcoming game Wildcard.
Base Chain Game Launch Platform Uptopia Completes $4 Million Financing, Led by Pantera Capital
Base chain game launch platform Uptopia announced the completion of $4 million in financing, led by Pantera Capital, with participation from Spartan, Coinbase Venture, and others.
Uptopia stated that the platform is about to launch, aiming to help games enhance liquidity on-chain and attract the attention of game-native audiences.
5. Others
According to Cointelegraph, Project Eleven, a company focused on the development of post-quantum cryptography, has completed $6 million in financing aimed at helping Bitcoin and other digital assets resist future quantum computing threats, with this round co-led by Web3 investment firm Variant Fund and quantum technology investor Quantonation.
Project Eleven's first product, Yellowpages, is a cryptographic registry that allows users to create quantum-resistant proofs linking current Bitcoin addresses to new secure addresses without relying on on-chain activity. Project Eleven CEO Alex Pruden stated that this financing will help the company build "the tools, standards, and ecosystem necessary to ensure the security of digital assets in a post-quantum world."
Crypto Savings App Nook Completes $2.5 Million Financing, Investors Include Coinbase Ventures
According to Fortune, the cryptocurrency savings app Nook, founded by three former Coinbase engineers, has completed $2.5 million in financing, with this round led by Coinbase Ventures, defy.vc, and UDHC. The company declined to disclose the valuation of this round of financing.
It is reported that Nook aims to make it easier for non-cryptocurrency native users to increase their cryptocurrency holdings through services like Aave, which allows users to lend their cryptocurrency to borrowers in exchange for interest.
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