Incrypted’s editorial team recorded 36 fundraising deals between October 18 and October 25, 2025. 29 of them disclosed details, raising a total of $728.58 million. These included both traditional venture capital investments, corporate deals, and tokensales.

Classic Venture Deals

The following projects received funding from investment companies during this period:

• $39 million — Pave Bank. Pave Bank, a neobank that combines traditional banking services with infrastructure for digital assets, raised $39 million in a Series A funding round led by venture capital fund Accel. Tether Investments, Wintermute, Quona Capital and other investors also joined the round.

• $25.5 million — Sign Protocol. Omnichain Attestation Protocol, which allows developers and systems to create, sign and verify any assertions (claims) or certificates in the blockchain space, received funds in a round led by YZi Labs and led by IDG Capital. The company is looking to build a digital infrastructure and plans to use the funds to expand its technical team.

• $10 million — BitcoinOS. The project raised this amount in a round led by Greenfield Capital with participation from FalconX, Bitcoin Frontier Fund, and DNA Fund and business angels. The funds will be used to scale the technical infrastructure. The solution team aims to turn the bitcoin network into a programmable baseline similar to Ethereum.

• $10 million — Bluwhale. The decentralized AI network that provides agents across different blockchains reported a successful Series A round. It was led by UOB Venture Management. SBI Holdings, Sui, Tezos, Cardano, Arbitrum and Movement Labs also participated. The project enables users to monetize their data, while dApp, game and DeFi developers get advanced analytics and personalization tools.

• $10 million — Limitless Labs. The startup closed a seed round led by 1confirmation. Collider Ventures, F-Prime Capital, Digital Currency Group (DCG), Coinbase Ventures, Node Capital, Arrington Capital, Flyer One Ventures, and SID Venture Partners also participated. The company specializes in building decentralized applications for real-time prediction markets using blockchain and AI technologies.

• $10 million — StraitsX. The company received these funds from UQPAY and DOCOMO. They will be used to scale the project and expand in Southeast Asia. The firm is a provider of infrastructure for settlement in stablecoins.

• $10 million — Cybrid. The steiblecoin payment infrastructure provider closed a Series A round led by BDC Capital’s Growth Venture Fund, with participation from Golden Ventures, Business Wire, Luge Capital, and Panache Ventures. The funds will be used to scale and develop the company’s core product.

• $9.8 million — Natural. The infrastructure provider closed a seed round with participation from Abstract, Human Capital, Forerunner, Terrain, Restive, Genius Ventures and a group of business angels. The company is a developer of payment solutions for agent-based AI systems.

• $8 million — Nubila Network. The project raised the above amount as part of a seed round. It was led by Blockspace Force and Quantum Holdings with the participation of IoTeX, Assemblyers, Synharbour AI and a number of business angels. The funds will be used to develop the platform. The project is a DePIN network that collects real-world data that underpins prediction markets, AI models and RWA protocols.

• $7 million — pieverse. The Web3 project received these funds in a strategic round co-led by Animoca Brands and UOB Ventures. 10K Ventures, Signum Capital, Morningstar Ventures, Serafund, Undefined Labs and Sonic SVM also participated. The solution is positioned as a tool for monetizing user time.

• $6 million — METYA. SocialFi-platform received the above funds in a round led by Echo3Labs and Greenwood Global Capital. The key feature of the project is the monetization of interaction between users, for which they are rewarded in tokens. The funds will be used to develop and launch new products.

• $5.5 million — Turtle. The liquidity allocation protocol announced the raising of additional funding. At the end of the round, the total amount of funds raised reached $11.7 million. The project team says it is creating a layer of liquidity for the Web3 space. According to its data, more than 358,000 wallets have joined the system. Funds have been provided by a number of large companies, existing investors and business angels.

• $5 million — TBook. The project, which is positioned as a StableFi-layer, has received a strategic infusion from Sui Foundation, HT Capital, KuCoin Ventures, Vista Labs, Bonfire Union and business angels leading Web3 projects. The funds will be used to develop and scale the solution’s infrastructure. The project allows tracking user contributions, ranking users based on their activity, targeting rewards and controlling distribution.

• $5 million — Open Campus. The Web3 education platform successfully closed a strategic funding round with participation from Animoca Brands, YZi Labs, HongShan and Caladan. The funds will be used to integrate new features including student loans, certificate verification and payment systems.

• $4.5 million — Tesser. The project closed a seed round co-led by three companies at once – Castle Island Ventures, Strobe Ventures and Anthemis. The studio actually acts as a provider of technical infrastructure for large companies that want to implement mutual settlements in stablecoins.

• $2 million — Printr. The project raised these funds in a round backed by Bybit Venture Studio, with participation from Mantle, Mirana Ventures, L1D, Sfermion, Flowdesk, and business angels. It represents a lunchpad abstracted from a specific network. At the end of the round, the total amount of funding raised reached $4.5 million. At the same time, the project team announced the official launch of their product.

• $2 million — Technotainment. The project raised this amount within the framework of the pre-seed round with the participation of the community only. The funds will be used to finalize the team’s main product — Streaming 2.0 platform, which will allow commercializing content, including broadcasts. The project’s economics are also based on the CAST token, which is expected to be released soon.

• $1.2 million — ONE. The Argentine fintech startup closed a seed round co-led by Alaya Capital and Draper Cygnus, with participation from Santo Seguros Ventures. The platform provides infrastructure that allows companies to accept various payment methods for international sales, including cryptocurrencies, specifically USDT.

• $1.1 million — Aureo. The financial platform focused on the Latin American market received funding from Early Riders. The project was previously called Swapido. The rebranding reflects the change of the platform’s activity vector, from a simple Lightning network exchange application to a full-fledged crypto-financial services platform.

• $1 million — Entry. Previously, the project was called Zekret Protocol. The funds were raised in a pre-seed funding round led by Modern Niagara and with participation from Perrfin and Qrecendo. The project team, based on sketchy information, appears to be building a blockchain for institutional players with a focus on regulatory compliance.

• $500,000 — bitsCrunch. The project received a strategic infusion from FD LABS. The solution is a single API interface to access data and metrics from different blockchains and sectors. The firm is also considering further infusions and ecosystem partnerships.

Several other projects have raised funding but did not disclose details.

On October 21, 2025, Tether, an issuer of USDT, announced an investment in African startup Kotani Pay, an infrastructure platform that provides onchain access to local payment channels and facilitates transfers between the traditional financial system and Web3. This is part of the company’s global strategy to expand its presence in the region.

Decentralized oracle network APRO reported the strategic infusion in a round led by YZi Labs (via EASY Residency) and led by WAGMI Ventures, TPC? and Gate Ventures. The release states that the investors provided not only funds but also expertise.

Token Sales

On October 20, 2025, the Lit Protocol project team announced that it closed a $17.7 million pre-TGE round, with participation from institutional investors, RRE, Collab Currency, Sfermion, Protocol Labs and Village Global, as well as the community. The first round will have a vesting period of up to two years, while the second round will have a vesting period of up to one year. The release of the token and Lit V1 is expected in the near future.

Blockchain infrastructure provider for financial counterparties Rayls successfully completed a public tokensale on the Republic platform, raising about $1.75 million. The RLS token is expected later in 2025.

A project on Solana’s dm.fun network held a public tokensale, raising $9.9 million, an app that combines chat, memcoins and crypto asset trading. The team stated that TGE and a public release of the product are expected in the short term.

On October 23, the protocol on the Solana network announced that it has completed a public tokensale with a limit of $2.5 million. The project aims to improve the security of user interaction with AI.

To learn more about current and upcoming token sales, keep an eye on our website for updates on the relevant section. We also maintain a dedicated Telegram channel.

Corporate Placements and Deals

This week, the following institutional investors announced that they raised capital by issuing securities and/or other financial products:

• $110 million — Greenlane Holdings. The company announced a private placement (PIPE) to create a corporate treasury based on the Berachain token (BERA). Counterparties including Polychain Capital, Blockchain.com, Kraken, North Rock Digital, CitizenX, dao5 and others participated in the fundraising.

• $3.45 million — afinyo. The fintech firm has received €3 million from its existing investor UTXO Management, which will be used exclusively to buy its first cryptocurrency. The company aims to become the first bitcoin treasurer in Germany. The terms and structure of the infusion were not disclosed.

Mergers and acquisitions

This week, cryptocurrency exchange Coinbase announced the purchase of investment platform Echo for $375 million. The deal is part of the company’s strategy to create a complete infrastructure for onchain finance. The platform’s tools will be integrated into the exchange’s products.

In addition, institutional-grade steering services and infrastructure provider Pier Two bought out Blockport, a validator of the Solana network. As part of the deal, project co-founders Adrian Ciaffoncini and Nick Herrmann will join the company.

On October 22, 2025, it was reported in the press that FalconX plans to buy out 21Shares, a major provider of exchange-traded funds. After the merger, the companies will focus on developing derivatives and structured financial products on a cryptocurrency basis.

Also on October 22, the team of the startup beam announced the takeover. The project was bought out by Modern Treasury. As part of the deal, beam’s infrastructure will be integrated into the firm’s products. According to Fortune, its valuation is $40 million.

On October 23, it became known that the company Fireblocks, an infrastructure provider, bought out the startup Dynamic. The latter offers developers a ready-made toolkit (SDK) for launching cryptocurrency wallets. This is part of Fireblocks’ new vision to provide a full range of services, from asset storage to consumer direct.

In addition, it was revealed this week that the Base Clanker network lunchepad has become part of the Farcaster project. The lunchepad will be integrated into the latter’s app.

Another deal from this category is the purchase of the startup Stable Finance by Aava Labs, the studio behind the blockchain of the same name. As part of the agreement, project founder Mario Baxter Cabrera and his team will join the organization.

Accelerators, grants and DAO funding

There were no incubation programs or infusions from decentralized autonomous organizations this week.

Most active investors

Contrarians such as Flowdesk, YZi Labs, Animoca Brands, UOB Venture and FalconX were the most frequently invested in this week, according to CryptoRank.

What was the focus this week?

Projects from blockchain services, blockchain infrastructure, CeFi, DeFi and other sectors received funding between October 18 and October 25, 2025.

As a reminder, last week the amount of funds raised in the sector amounted to over $2.2 billion. Follow Incrypted to stay up to date with changes in investor sentiment and major players in the market.