Crypto startups raised $2.27B in early 2025, but March sees slowdown
In January and February 2025, crypto projects secured over $1 billion in venture funding each month. However, March is set to be less successful, as investment inflows into crypto startups have already dropped by at least 50%.
Key Takeaways
- After Donald Trump’s election victory, venture investments in crypto startups surged, peaking in December 2024.
- Funding remained strong in January and February, exceeding $1 billion per month, but global market uncertainty has impacted the crypto sector.
- As crypto prices decline, venture capitalists have become more cautious in funding blockchain projects.
Post-election euphoria fueled crypto investments
Trump’s pro-crypto stance led to a surge in venture capital funding for blockchain projects at the end of 2024. The highest recorded amount was $1.579 billion in December.
While January and February 2025 saw lower investment levels, they still remained strong. According to DefiLlama, crypto projects raised a total of $2.278 billion in the first two months of 2025, averaging over $1 billion per month.
Monthly venture capital investments in crypto projects, July 2024 – March 2025. Source: DefiLlama.
The top-funded project was World Liberty Financial (WLFI), a decentralized finance initiative linked to Trump, which raised $310 million in January through public token sales to accredited investors.
In February, blockchain lender Figure secured $200 million in funding through a partnership with private investment firm Sixth Street, aimed at improving its private lending protocol.
Other major funding rounds included:
Solana wallet Phantom ($150M, Series C led by Sequoia Capital)
Ethena Labs ($116M from Franklin Templeton, Pantera Capital, MEXC Ventures, and Polychain Capital)
Together, these four projects accounted for over 30% of total venture capital raised in 2025 so far.
March crypto funding declines amid market volatility
However, in March, venture capital inflows have slowed, impacted by macroeconomic uncertainties and a declining crypto market.
Over the past 30 days, the total crypto market cap has dropped 17%, from $3.28 trillion to $2.64 trillion.
Bitcoin price dynamics over 30 Days. Source: CoinMarketCap
Since the beginning of March, only $166 million has been raised. At this rate, crypto startup funding could drop below $500 million for the month—a significant decline compared to previous months.
As we wrote, India’s web3 ecosystem is witnessing a surge in investment, with blockchain infrastructure emerging as the top priority for investors, despite persistent regulatory uncertainty.
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