On September 6-13, 2025, Incrypted’s editorial team recorded 30 investment deals, 18 of which totaled more than $5.04 billion. These included corporate deals, traditional venture capital fundraising, token sales, and much more. Read more in our weekly digest.

Classic venture capital

During this period, 10 projects received funding from venture capital companies. In particular:

• 26.5 million — Inversion. The venture capital firm, which invests in early-stage blockchain and cryptocurrency startups, announced that it has raised capital in a seed round. The investors include Hashkey Capital, Dragonfly, Balaji Srinivasan, ParaFi Capital, Mirana Ventures, and more than 35 other participants.

• $16 million — Transak. The company, which develops payment infrastructure for Web3, reported on the investment received in the strategic funding round. It was led by IDG Capital and Tether with the participation of Primal Capital, 1kx, Protein Capital, and Fuel Ventures, and the funds will be used to expand payment solutions with stablecoins and enter new markets.

• 10 million — Tetra Trust. Canada’s first and only licensed digital asset trust company has closed a funding round, the details of which were not disclosed. Investors included Shopify, Purpose Investments, Urbana Corporation, National Bank Holdings, Shakepay, and others.

• $6 million — GigaStar. The platform for investing in YouTube users’ revenues has received a Series A round of investment. The financing combined a Reg D offering for institutional investors and a crowdfunding campaign on Wefunder, becoming part of a total round of $10 million.

• 5 million — Koah. The advertising platform for integrating ads into artificial intelligence (AI) responses has received seed funding from South Park Commons and Forerunner Ventures. The company offers SDKs for web and mobile applications, conversion tracking tools, and text-based ad formats.

• 3.5 million — Wildcat. The decentralized credit protocol for unsecured lending has raised funds in an expanded seed round. Investors included Robot Ventures, P2 Ventures, Kronos Research, Hyperithm, Hermeneutic Investments, Polygon Ventures, Safe Foundation, and prominent business angels, including Joey Santoro and Charles Cooper.

• $1.5 million — Gyld Finance. The platform for converting future income into a trading asset has attracted investment in a pre-seed funding round. The funds from Lightshift Capital will be used to develop the institutional marketplace and comply with regulatory standards.

• $1.36 million — Thirdverse. The VR game developer announced investment in a strategic round from D4V, CyberAgent Capital, United Corporation, and Masi Oka. The company develops multiplayer VR games, including Swords of Gargantua, Altair Breaker, and X8.

• $1.26 million — Recoveris. The provider of digital asset investigation, recovery, and compliance solutions announced the closure of a seed round with investment from VerifyVASP. The funding will support the development of AI solutions and global transparency and accountability in the crypto ecosystem.

A number of other projects have attracted funding, but have not disclosed the amount of investment.

Based, a crypto exchange that supports spot and over-the-counter trading on Hyperliquid, has received a strategic investment from the Ethena Foundation. The platform offers position management tools, automatic orders, a custody wallet, and HYPE token staking.

KaleidoSwap, a decentralized exchange on the Sonic blockchain, has attracted investments in a pre-seed funding round from Fulgur Ventures and Bitfinex. The platform supports cross-chain token brokering, liquid pools, and an automated market-making model.

Digital Mr Freeman, a fully autonomous virtual media personality, closed an angel round. Investors include 1inch, Evgeny Ponomarev, JdotHamilton, hunisan, Mike Goryunov, Ronin, Maneki Garden, sqd.ai, Mindo AI, and WAGMI HUB.

ChatterPay, a digital wallet that works via WhatsApp and allows you to send, receive and store cryptocurrency via text or voice messages, has attracted strategic investment. The round was led by Scroll, and the funds will be used to launch crypto payments on WhatsApp and expand the service in Latin America.

Token Sales

This week, a token sale of the following project took place:

• Lombard’s platform for integrating bitcoin into DeFi through its core product LBTC raised $94.7 million in a public token sale. The funds will be used to develop solutions that allow bitcoin to be used in staking, trading, and DeFi products without fragmenting liquidity.

In addition, you can find out about current and upcoming token sales through the relevant section on the website, where all users can access information about active and upcoming asset sales campaigns. Our team also maintains a dedicated Telegram channel and monitors the most relevant events:

Corporate placements and transactions

Representatives of the institutional sector continue to accumulate funds to build up cryptocurrency reserves and expand their operations. The following deals were recorded last week:

• $1.65 billion — Forward Industries. The company announced a private placement (PIPE) for the specified amount in cash and stablecoins to launch its Solana coin accumulation strategy. The round was led by Galaxy Digital, Jump Crypto, and Multicoin Capital, joined by C/M Capital Partners, one of the company’s largest shareholders;

• $1.44 billion — Metaplanet. The Japanese investment company announced the issuance of 385 million new shares at a price of 553 yen ($3.75) to raise capital. The company plans to use the funds to buy bitcoin and generate income from its crypto investment portfolio.

• $787.5 million — Figure. The stablecoin issuer held an IPO in the United States, during which it placed 31.5 million shares with investors at a price of $25 per share. As a result, the company raised capital and received a market valuation of $5.29 billion, and its shares began trading on the Nasdaq under the ticker FIGR.

• fIGR. 530 million — StablecoinX. The stablecoin-focused company, which manages the validation infrastructure for the Ethereum protocol and is preparing to list on Nasdaq, received funds through PIPE. Investors include Dragonfly, ParaFi Capital, Brevan Howard, Susquehanna International Group, and IMC Trading.

• $425 million — Gemini. The crypto exchange announced the receipt of capital during the IPO, selling 15.2 million securities at $28 per share. The company will be listed on the Nasdaq Global Select Market under the ticker GEMI, despite a loss of $282.5 million in the first half of 2025.

• 5.87 million — Capital B (formerly The Blockchain Group). A public company listed on Euronext Growth Paris that creates a bitcoin reserve and develops AI and decentralized technologies has attracted investment in a post-IPO round. The investors are Fulgur Ventures and TOBAM, and the funds will be used to increase the bitcoin reserve per share;

• $400,000 — Krown Network. Solana, a blockchain-based real-asset lending platform, received capital in a debt financing round. The investor is Quantum eMotion, and the funds will help Solana scale its tokenized real estate lending products.

Acquisitions and mergers

In the period from 6 to 13 September, the market recorded two acquisitions.

Buidlbox, a web-based platform for hackathons and bootcamps, was acquired by HackQuest. Details of the round or the deal amount were not disclosed.

Sensible (formerly FirstMate), a decentralised yield protocol specialising in DeFi solutions for consumers, has been acquired by Coinbase. The founders join the exchange to accelerate the development of online products for users and implement the strategy of creating a universal platform for working with money.

Accelerators, grants, and DAO funding

This week, the L1 blockchain Plume Network, which develops infrastructure for real-world tokenised assets (RWAs), held an accelerator funding round to support projects under the Ascend RWA programme and selected seven startups from 140 applications. Among them are Tradible, Jarsy, Glider, DeSyn Protocol, Canary Protocol, AXC, and Voltaire, which received investments from Plume Network to develop their solutions in the areas of tokenization, DeFi, and asset management, among others:

• Tradible offers a decentralised blockchain trading protocol that allows users to exchange assets without intermediaries;
• Jarsy provides access to tokenized economic rights in pre-IPO and private equity to retail investors worldwide using stablecoins or local currencies;
• Glider provides tools for automated crypto portfolio management, supporting the creation and launch of strategies on different blockchains;
• DeSyn Protocol enables the creation and trading of tokenised ETFs, portfolios or leverage assets based on smart contracts;
• Canary Protocol develops an oracle system for real assets, combining it with a decentralised data validation network;
• AXC offers a tokenization framework that allows the creation of ERC-20 tokens backed by real but less liquid assets;
• Voltaire has received investment from Plume Network as part of an accelerator to develop its RWA infrastructure and scale its product.

Top investors

The most active investors of the week were AccelByte, ATB Financial, Balaji Srinivasan, Comfy Capital, and Dragonfly, according to CryptoRank.

What is the focus of investors’ attention?

Between 6 and 13 September, projects from such segments as DeFi, CeFi, blockchain services, blockchain infrastructure, and GameFi attracted funding. Investors focused on DeFi.

As a reminder, Web3 projects attracted $665.5 million in investments over the previous week.

Follow Incrypted to keep up with new investments in the development of the digital world.