Crypto fundraising in 2025 shows steady growth, ending the first half of the year on a high note despite some slower months. Recently, there has been a shift towards large private deals and late-stage financing.
General Dynamics of Crypto Fundraising
Crypto fundraising has returned to levels not seen since 2022, showing growth in the first half of 2025. Deals have become larger, focusing on private rounds and late-stage financing, while seed rounds have become more cautious.
"The model of funding projects only to sell tokens to exchanges is being phased out, and the focus now is on late-stage funding," experts report.
Results for June
In June, crypto fundraising exceeded $4.49 billion. Despite variable dynamics, some months saw record figures, such as $5 billion in total VC deals in March. Coinbase Ventures led in deal numbers, followed by Pantera Capital. Most deals were conducted in undisclosed international locations, with the USA leading in total dollar value.
The Return of Token Sales and Their Impact
Token sales have once again become a viable source of funding for smaller projects, consistently raising over $4 billion per month in the past four months. In June, 174 token sales raised $4.79 billion, surpassing the volumes of large VC rounds. The primary interests come from special campaigns by Binance Wallet and PancakeSwap.
Crypto fundraising shows positive dynamics and adaptation to the new market. The return to large private deals and the success of token sales demonstrate the changing funding strategies in the crypto industry.
