Original | Odaily Planet Daily ( @OdailyChina )
Author | Dingdang ( @XiaMiPP )
According to incomplete statistics from Odaily Planet Daily, there were 14 blockchain-related financing events announced worldwide from May 19 to May 25, a 27% increase from the 11 events in the previous week. The total financing scale was approximately US$600 million, a significant jump from US$89 million in the previous week. It is worth noting that the increase in the amount was mainly due to Riot Platforms (a Bitcoin mining company listed on Nasdaq) raising its credit agreement with Coinbase Credit from US$100 million to US$200 million , not actual new financing.
Judging from the financing dynamics, the crypto industry continues to be favored by capital: Theta Capital Management has completed fundraising of over $175 million, indicating that institutional investors are still increasing their investment. Among the sub-sectors, payment and AI tracks performed the most actively and became the main direction of financing this week.
The following are specific financing events (Note: 1. Sort by the amount of money announced; 2. Excludes fund raising and MA events; 3. * indicates a traditional company whose business involves blockchain):
Riot Platforms credit agreement with Coinbase increases to $200 million
On May 20, Riot Platforms, a Nasdaq-listed Bitcoin mining company, announced that it would increase the financing limit of its credit agreement with Coinbase Credit from US$100 million to US$200 million. The key terms of the credit line remain unchanged, including the applicable interest rate.
Riot Platforms said the move is aimed at diversifying its financing channels and reducing capital costs to support long-term strategic goals. Borrowings under the credit line will be collateralized by part of the companys bitcoin holdings, with an annual interest rate of 4.5% plus the federal funds rate cap (or 3.25%, whichever is higher).
Theta Capital Completes $175 Million Crypto Fund Financing, Will Invest in Blockchain Startups
On May 21, crypto investment company Theta Capital Management announced the completion of more than $175 million in financing for its fund called Theta Blockchain Ventures IV. The fund will focus on investing in venture investors focused on the crypto space and indirectly support early blockchain startups.
World raises $135 million through sale of WLD tokens, to be used for U.S. and global expansion
On May 22, World Assets, a subsidiary of World Foundation, a party related to the Worldcoin project, announced on May 21 that it raised $135 million by selling WLD tokens to Andreessen Horowitz and Bain Capital Crypto at market prices to support the expansion of the World network in the United States and around the world. Previously disclosed investors also include Selini Capital, Mirana Ventures and Arctic Digital.
Stablecoin cross-border trading startup OpenFX completes $23 million financing, led by Accel
On May 22, OpenFX, a stablecoin cross-border trading startup, announced the completion of a $23 million financing led by Accel. The company was founded by Prabhakar Reddy and aims to replace SWIFT and build a cross-border trading network based on stablecoins. OpenFX currently supports 7 currencies, including the US dollar, euro and Mexican peso, and plans to expand to 10 currencies this summer, including Southeast Asia.
Catena Labs Completes $18 Million Seed Round, Led by a16z Crypto
On May 20, Catena Labs, an AI-native financial startup founded by Circle co- founder Sean Neville, announced the completion of a $18 million seed round of financing, led by a16z crypto, with participation from Breyer Capital, Circle Ventures, Coinbase Ventures and Tom Brady. Catena Labs is committed to building an AI-native bank with AI agents at its core, and has developed open source protocols that support AI payment and identity systems. The company has not yet announced its valuation and has no plans to launch cryptocurrencies or stablecoins in the short term.
On May 22, the Bitcoin project Roxom Global is building a BTC-denominated exchange and a 24/7 media network RoxomTV that is entirely dedicated to the development of Bitcoin. It is reported that Draper Associates, Borderless Capital, ego death and Kingsway Capital have invested $7.9 million in its exchange and raised $10 million for RoxomTV in a round of private financing.
True Markets Completes $11 Million Series A Financing, PayPal Ventures and Others Participate
On May 20, Solana ecosystem cryptocurrency trading application True Markets announced the completion of an $11 million Series A financing round, with participation from PayPal Ventures, Variant, and RRE Ventures and Reciprocal Ventures. The company currently has 10 full-time employees and is mainly a centralized matching engine for institutional users. It recently launched a real-time trading function for customers.
On May 24, Hyperdrive, a decentralized stablecoin funding market based on Hyperliquid, announced the completion of a $6 million Series A financing round, led by Hack VC and Arrington Capital, with participation from Delphi Ventures, Proof Group, SIG, Caladan Group, Amber Group, CMS Holdings, Breed VC and several angel investors. The project aims to build a stablecoin money market and yield hub on the Hyperliquid blockchain, providing stablecoin deposits and loans, liquid pledge $HYPE and one-click yield strategies.
Web3 game developer Voya Games completes $5 million financing, led by 1kx and Makers Fund
On May 21, Web3 game developer Voya Games completed a $5 million financing round led by 1kx and Makers Fund, with participation from RockawayX. Angel investors included Sky Mavis co-founder Jeff Jihoz Zirlin and The Sandbox COO Sébastien Borget.
The funds raised will be used to support the development of the casual Web3 game Craft World. Craft World is a casual resource management game where players work with friendly dinosaurs to rebuild civilization after a meteorite destroyed humanity. The game is currently in the testnet stage.
On May 20, Bitcoin liquidity pledge protocol Rover announced the completion of a $4.1 million seed round of financing, with participation from Bloccelerate, Animoca Ventures, CMS Holdings, UTXO, Maelstrom, etc. Rover is developing a flagship liquidity pledge solution for Bitcoin holders on Botanix, the first fully decentralized Bitcoin blockchain. Rover has also received strategic investment from UTXO, an early Bitcoin venture capital fund.
TON Ecosystem DEX Tradoor Completes $3.2 Million in Financing, Led by TON Ventures and Others
On May 20, Tradoor, a decentralized exchange based on the TON ecosystem, announced the completion of a $3.2 million financing round, led by TON Ventures and Kenetic Capital, with participation from Sigil Fund, Protagonist, VentureSouq, T Fund, TONX, Re 7 Capital and BitsLab. It is reported that this round of financing also includes a $1.5 million token purchase commitment to support Tradoor’s roadmap for high-frequency trading on TON. The new funds will support its launch of token exchanges and AI functions, including text trading (allowing users to execute transactions through text commands) and social copy trading products.
Crypto asset management company Blockrise completes €2 million seed round of financing
On May 23, Blockrise, a Rotterdam-based crypto asset management company, announced the completion of a 2 million euro seed round of financing, with Golden Egg Check Capital participating. The new funds are intended to be used to prepare for the implementation of European crypto asset market regulatory regulations and strive to obtain the MiCAR license for crypto asset market regulation issued by the Netherlands Authority for the Financial Markets (AFM). The company expects to launch a Series A financing round at the end of the year and expand its Bitcoin custody and asset management platform.
On May 24, Canadian stablecoin issuer Stablecorp completed a $1.8 million financing round, with investors including Coinbase Ventures and Side Door Ventures .
NERO Chain completed early financing, the specific amount has not been disclosed yet
On May 23, according to official news, NERO Chain has received investments from several leading Japanese institutions and global capital. Arcanum Capital (with Tether’s participation), Csquare Venture, Oddiyana Ventures, Triple GEM Capital and other institutions have completed early investments, and the specific amount of financing has not been disclosed.
