Crypto venture capital funding surged 433% to $49.75 billion in 2025.
TL;DR
Crypto VC funding soared 433% to $49.75B in 2025, with fewer but larger deals like Naver's $10.3B acquisition of Dunamu. DeFi led investments at 22.4%.
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According to ChainCatcher, market sources indicate that total crypto venture capital investment reached $49.75 billion in 2025, a 433.2% increase from 2024, despite a 42.1% decrease in the number of projects to 898 throughout the year, suggesting that funds are concentrated in larger projects.
The largest deal of the year was Naver's $10.3 billion all-stock acquisition of Upbit's parent company, Dunamu. In addition, Strategy, ICE, and Abu Dhabi MGX led several billion-dollar funding rounds. DeFi projects accounted for the highest proportion of total investment and funding throughout the year, at 22.4%.