October VC Monthly Report: Number of Fundraising Rounds Increases 21%, Amount Decreases 25%

Nov 04, 2025

Author | WuBlockchain

According to RootData statistics, there were 75 publicly disclosed Crypto VC fundraising rounds in October 2025, a month-on-month increase of 21% (62 rounds in September 2025) and a year-on-year decrease of 25% (100 rounds in October 2024). Note: As not all fundraising is announced within the same month, the above statistics may be subject to future increases. The number of projects in various sector tracks is as follows:

Among them, CeFi accounted for approximately 26.7%, DeFi accounted for approximately 18.7%, NFT/GameFi accounted for approximately 8%, L1/L2 accounted for approximately 4%, RWA/DePIN accounted for approximately 12%, Tool/Wallet accounted for approximately 10.7%, and AI accounted for approximately 20%.

The total fundraising amount in October 2025 was $4.556 billion, a month-on-month decrease of 11% ($5.122 billion in September 2025) and a year-on-year increase of 484% ($780 million in October 2024). The top 10 rounds by amount are listed below:

Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), made a $2 billion strategic investment in prediction market Polymarket. The deal valued Polymarket at a pre-money valuation of approximately $8 billion. Through this transaction, ICE not only acquired a financial stake in Polymarket but will also become the global distributor of its event-driven data.

Stripe-backed blockchain startup Tempo completed a $500 million Series A funding round, with a valuation of approximately $5 billion. The round was co-led by Thrive Capital (Joshua Kushner) and Greenoaks, with participation from Sequoia, Ribbit Capital, SV Angel, and others. Co-developed by Stripe and Paradigm, Tempo focuses on stablecoin payment infrastructure, with partners including OpenAI, Shopify, and Visa.

Galaxy Digital reached an investment agreement with a leading global asset management company, securing $460 million through a private placement. The company stated that the proceeds will be used for general corporate purposes and to advance its Helios data center project in Texas, which plans to deliver the first phase of 133 MW of critical IT load capacity in the first half of 2026.

Coinbase has agreed to acquire blockchain-based financing platform Echo for approximately $375 million. This acquisition marks Coinbase’s eighth acquisition this year, as the company continues to expand its service offerings under the favorable regulatory environment of the current US administration.

US-compliant prediction market platform Kalshi completed a funding round of over $300 million, with its valuation jumping to $5 billion. This round was led by Sequoia Capital and a16z, with follow-on investments from existing shareholders like Paradigm.

DDC Enterprise completed a $124 million equity financing round. This round was led by PAG Pegasus Fund and Mulana Investment Management, with participation from OKG Financial Services. The raised funds will be used to advance its Bitcoin vault strategy. To date, the company has accumulated 1,058 BTC.

Greenlane Holdings (Nasdaq: GNLN) announced the completion of a $110 million private placement. This round was led by Polychain Capital, with participation from Blockchain.com, Kraken, North Rock Digital, CitizenX, dao5, and others. Greenlane will use the proceeds to purchase BERA in public markets and OTC for establishing vault and liquidity operations.

IG Group Holdings plc (LSEG: IGG) sold Small Exchange Inc to Payward Inc, the parent company of cryptocurrency exchange Kraken, for $100 million (£74.9 million). The transaction includes £24.3 million in cash and £50.6 million in Payward stock. This sale resulted in a post-tax gain of £73.3 million for IG Group and increased its regulatory capital resources by £22.7 million.

Meanwhile announced the completion of an $82 million funding round. The round was led by Haun Ventures and Bain Capital Crypto, with participation from Pantera Capital, Apollo, and others. The new funds will be used to expand its core product — Bitcoin-denominated life insurance — and expand its business globally. The company’s total funding has now reached $143 million.

Decentralized energy network Daylight Energy announced the completion of a $75 million funding round. This included $15 million in equity led by Framework Ventures, with participation from a16z crypto, Lerer Hippeau, M13, Coinbase Ventures, etc., and a separate $60 million project financing facility led by Turtle Hill Capital. Daylight incentivizes households to install distributed solar and energy storage through a crypto network, generating revenue from user subscriptions and market compensation for feeding power back to the grid during peak periods. The company launched the DayFi yield protocol, which onboards electricity revenue as on-chain assets and provides yield.

Wu Blockchain

Discussion about this post