According to Galaxy's report, venture capital investment in the cryptocurrency sector reached $4.9 billion in the first quarter of 2025, a 40% increase from the previous quarter. Among this, MGX's $2 billion investment in Binance accounted for over 40% of the total. Excluding this transaction, the total financing amount was $2.8 billion, a 20% decrease from the fourth quarter of 2024. Web3 projects received the most funding, with American companies accounting for 38.6% of the total transactions. Despite facing competition from AI and cautious investor sentiment, Galaxy remains optimistic about the recovery of the cryptocurrency market.