Compiled by: Luan Peng, RootData
According to incomplete statistics from RootData, from August 11 to August 17, 2025, there were 21 public financing events in the blockchain and cryptocurrency industry, raising approximately $2.295 billion in total.
From the distribution of tracks, the projects that received financing are mainly distributed in the infrastructure and CeFi tracks. Popular projects include cryptocurrency payment infrastructure company Mesh, Seattle game studio Neon Machine, GPU-collateralized stablecoin protocol USD.AI, and Kenyan Web3 payment platform HoneyCoin.
Additionally, Web3 payment infrastructure company Transak announced the completion of a new round of financing of $16 million, co-led by IDG Capital and Tether, with participation from Primal Capital, 1kx, Protein Capital, and Fuel Ventures.
(List of projects that raised more than $5 million last week, data source: Rootdata)
I. Infrastructure
DeFi smart agent platform Almanak completed $8.45 million in financing, with participation from Delphi Labs and others.
DeFi smart agent platform Almanak completed $8.45 million in financing, with participation from Delphi Labs, HashKey Capital, BanklessVC, NEAR Foundation, RockawayX, Matrix Partners, AppWorks, Sparkle VC, Shima Capital, and others.
Almanak aims to create and deploy automated financial strategies through financial agents. Unlike traditional DeFi automation that follows static rules, Almanak is building a framework that uses AI-assisted decision-making to analyze market patterns and manage risks.
The decentralized AI development protocol RICE AI completed Series A financing, led by FLOKI.
The decentralized AI development protocol RICE AI completed Series A financing, led by FLOKI, with participation from DWF Labs, TokenFi (community presale), Vibe Labs, and others.
RICE AI focuses on the development of AGI (Artificial General Intelligence) robots, driven by the RICE token. It aims to address the bottleneck of data scarcity for robot AI by massively collecting and training the foundational models of robots (RFM) through a crowdsourcing mechanism.
DeAgentAI received strategic financing from Momentum.
The decentralized AI infrastructure project DeAgentAI announced the completion of a new round of strategic financing, invested by Momentum, a leading DEX in the Sui ecosystem.
Both parties will engage in deep cooperation around AI Infra construction, ecosystem collaboration, and scene implementation, continuously promoting the large-scale application of AI agents in the Sui ecosystem.
It is reported that DeAgentAI is the largest AI Infra project on Sui, dedicated to building a smarter and more trustworthy on-chain AI network.
Cryptocurrency payment company Mesh completed a new round of financing, with participation from PayPal Ventures and others.
According to The Block, cryptocurrency payment infrastructure company Mesh completed a new round of financing, with the amount undisclosed. Investors include PayPal Ventures, Coinbase Ventures, Uphold, ByBit, SBI Japan, Overlook Ventures, Kingsway Capital, Moderne Ventures, and CE-Ventures, bringing its total financing to over $130 million.
Five months ago, Mesh raised $82 million in a Series B financing round led by Paradigm.
Offchain Labs acquired the smart account development team ZeroDev.
According to Offchain Labs, the company has acquired the smart account development team ZeroDev. ZeroDev currently supports over 5 million smart accounts across more than 30 chains, providing tools for several crypto projects including ApeCoin, Conduit, and Crossmint. This acquisition aims to meet the growing demand for on-chain infrastructure, promote the on-chain adoption of large institutions and consumer applications, and coordinate with the previously launched universal intent engine to achieve rapid cross-chain transactions and seamless user experiences.
AI training data platform PublicAI raised $2 million through a public offering on CoinList, bringing its total financing to $12 million.
It is reported that AI training data platform Public AI completed a CoinList public offering, raising $2 million, exceeding its expected target.
Previously, the company had obtained $10 million in institutional financing supported by Stanford Blockchain Accelerator, Solana Foundation, and NEAR Foundation, bringing its total financing to $12 million. This public offering adopts a 'bottom-filling' model, prioritizing allocations to small participants, and unsatisfied participants will receive refunds. The token generation event (TGE) for PublicAI will start on August 15 on the Binance Alpha platform, with plans to launch on major exchanges thereafter.
II. Games
The developer of the crypto shooting game Shrapnel completed $19.5 million in financing, led by Gala Games.
Seattle game studio Neon Machine announced the completion of $19.5 million in financing, with the latest round led by Gala Games, and participation from Griffin Gaming Partners and Polychain Capital. The funds will be used to support the global launch of its award-winning FPS game Shrapnel and plans for the Chinese market, which will begin closed testing in 2025 and open testing in early 2026.
III. DeFi
Hyperliquid's ecosystem-native yield layer Hyperbeat completed $5.2 million in seed round financing, co-led by ether.fi Ventures and Electric Capital.
According to CoinDesk, Hyperliquid's ecosystem-native yield layer Hyperbeat completed $5.2 million in oversubscribed seed round financing, co-led by ether.fi Ventures and Electric Capital, with participation from Coinbase Ventures, Chapter One, Selini, Maelstrom, Anchorage Digital, and supporters from the HyperCollective community.
Hyperbeat aims to build permissionless financial infrastructure that allows anyone to earn yield, stake, and spend directly from their on-chain portfolio.
The stablecoin protocol USD.AI completed $13 million in Series A financing, led by Framework Ventures.
According to CoinDesk, the GPU-collateralized stablecoin protocol USD.AI developed by Permian Labs completed $13 million in Series A financing, led by Framework Ventures, with participation from Bullish, Dragonfly, Arbitrum, and others.
The protocol provides loans to emerging AI companies by using graphics processing unit (GPU) hardware as collateral, reducing approval times by over 90% compared to traditional lending institutions. The system includes the USDai stablecoin pegged to the dollar and the yield-bearing token sUSDai supported by computational asset returns.
IV. CeFi
Data: Bullish raised $1.1 billion in its IPO.
According to Bloomberg, digital asset trading platform Bullish raised $1.1 billion through an IPO, with an issuance price of $37 per share, higher than the previous range of $32 to $33. The IPO was oversubscribed by more than 20 times, with a market capitalization of $5.4 billion.
BlackRock and ARK Investment Management intend to jointly subscribe for $200 million in shares. Bullish is led by former NYSE president Tom Farley as CEO, primarily serving institutional clients, with the largest shareholder being Block.one CEO Brendan Blumer (holding 30.1%). The company will be listed on the NYSE under the ticker BLSH.
Swedish listed company H100 Group raised approximately $6.84 million again for its Bitcoin treasury strategy.
Swedish listed company H100 Group completed a directed issuance, raising approximately 65.3 million Swedish Krona ($6.84 million). The issuance price is 7.94 Swedish Krona per share. Since launching its Bitcoin treasury strategy, the company has raised a total of approximately 1.181 billion Swedish Krona ($124 million).
Kenyan Web3 payment platform HoneyCoin completed $4.9 million in financing, led by Flourish Ventures.
According to BitKE, Kenyan Web3 payment platform HoneyCoin announced the completion of $4.9 million in financing, led by Flourish Ventures, with funds intended for scaling operations, enriching product lines, and attracting executives. HoneyCoin was founded by David Nandwa at the age of 19 in 2020, and the platform's monthly transaction volume has exceeded $150 million, serving 350 business clients and hundreds of thousands of users.
HoneyCoin achieves instant or same-day settlement through a stablecoin-compatible platform, supporting business operations in 45 countries, and has established partnerships with MoneyGram, UBA Bank, Stripe, and others. This financing will help further expand its team and compliance layout.
Web3 payment infrastructure company Transak completed $16 million in financing, co-led by IDG Capital and Tether.
According to CoinDesk, Web3 payment infrastructure company Transak announced the completion of a new round of financing of $16 million, co-led by IDG Capital and Tether, with participation from Primal Capital, 1kx, Protein Capital, and Fuel Ventures.
Transak plans to use the funds to expand its stablecoin payment stack and enter new markets.
Peter Thiel's investment group acquired a 7.5% stake in Ethereum treasury company ETHZilla.
According to Cryptobriefing, billionaire investor and co-founder of PayPal and Palantir, Peter Thiel, disclosed holding a 7.5% stake in biotech company ETHZilla (formerly 180 Life Sciences), which recently completed a $425 million private placement and a $156 million convertible bond issuance, with funds to be used to increase its Ethereum holdings.
This is the second Ethereum treasury company that Thiel has invested in since July's stake in BitMine (holding 9.1%). As a result of the news, ATNF's stock price surged over 11% in a single day, skyrocketing 57% after hours.
V. Others
Thumzup Media Corporation plans to raise $46.5 million to purchase cryptocurrency and mining equipment.
According to PR Newswire, Donald Trump Jr. has invested in the Nasdaq-listed company Thumzup Media Corporation, which holds cryptocurrency reserves, announcing an issuance of pre-funded warrants to certain investors at a public offering price of $10 per share, with expected total fundraising of $46.5 million. The transaction is expected to be completed around August 12, 2025, pending customary closing conditions.
The company intends to use the net proceeds from this issuance to purchase cryptocurrency and mining equipment, for working capital, and for general corporate purposes.
Blockchain payment company Riva completed $3 million in seed round financing, led by Project A.
Global payment company Riva Money announced the completion of $3 million in seed round financing, led by Project A, with participation from several individual investors from Revolut, Monzo, and J.P. Morgan.
Riva optimizes cross-border payment processes through blockchain technology and stablecoins, aiming to reduce costs, accelerate settlements, and provide better exchange rates. The company was co-founded by former Revolut and Wise executives Niklas Hoejman and Mahendra Katoch and is applying for payment institution licenses in the UK and EU, as well as MICA and VASP licenses, to advance its global compliance layout.
Publicly traded company Heritage Distilling completed $220 million in financing, intending to establish an IP token reserve.
According to businesswire, Nasdaq-listed company Heritage Distilling announced the completion of $220 million in financing, with participation from a16z crypto, Amber Group, Arrington Capital, dao 5, Hashed, Mirana Ventures, Neoclassic Capital, Open World, Polychain Capital, Selini Capital, Stix, Syncracy Capital, and others.
The company will allocate $82 million to purchase IP tokens to establish an IP token reserve.
