In particular, funding was received by the following projects:
$425 million — SharpLink. The company closed a private funding round led by Consensys with participation from several other counterparties and business angels. The funds will be used to form an Ethereum reserve. The firm also plans to use crypto assets for additional income generation, including revenues from staking.
$176.5 million — Scalable Capital. The German startup raised 155 million euros in an undisclosed funding round co-led by Sofina and Noteus Partners. It also included existing investors Balderton Capital, Tencent, and HV Capital. The project is an investment platform focused on Europe. The funds will be used for scaling and launching new products.
$21 million — IOST. The modular RWA infrastructure team announced the completion of a strategic round with participation from counterparties such as DWF Labs, Presto, and Rollman Management Groups. According to the release, a special distribution mechanism was used, but the developers did not disclose details. The funds will be used for launching new products and overall project development.
$14 million — Rails. The cryptocurrency exchange raised these funds during a token sale conducted in April 2025. Investors included counterparties such as Kraken, Slow Ventures, CMCC Global, Quantstamp, and Round13 Capital. The platform operates on the Ink network, which is developed by the Kraken exchange.
$8 million — Avantis. A decentralized exchange on the Base network announced the completion of a Series A round co-led by Founders Fund and Pantera Capital. It also included Symbolic Capital, SALT Fund, and Flowdesk. It is known that the round was closed back in 2024, but the announcement was made only now.
$6 million — Soul Labs. The studio developing a unified liquidity layer for merging money markets across different ecosystems conducted a public token sale round. The funds will go towards preparations for the mainnet release, particularly for security audits.
$5.2 million — 3Jane. A startup developing a DeFi protocol for offering unsecured credit lines in the stablecoin USDC received funding from Paradigm. The studio uses its own credit scoring system and zkTLS technology. The mainnet release is expected in Q3 2025.
$4.5 million — Dedge Security. The Spanish startup closed a seed round of 4 million euros in a round led by Tritemius. The studio is developing a platform for securing smart contracts, decentralized applications, and blockchain infrastructure throughout their lifecycle.
$4 million — HashPower. The staking protocol announced the completion of a strategic investment round of $4 million with participation from HashKey Capital, FBG Capital, Hailstone Labs, and DePIN X Capital. The project allows users to earn rewards for mining and staking from high-quality projects without owning any equipment. The funds will be used for scaling.
$4 million — Launcher Capital. The team reported the completion of a seed round led by the cryptocurrency division of Andreessen Horowitz (a16z crypto). The goal of the project is to rethink the concept of modern games and their development. The team is creating infrastructure that will allow for the release of AI-based games, as well as monetize ideas and creativity.
$3 million — HeyElsa. The project closed a round led by M31 Capital with participation from: Base Ecosystem Fund by Coinbase Ventures, MH Ventures, Absoluta Digital, 2Shares, Levitate Labs, and others. It represents an AI layer based on Solana, designed to provide efficient AI support services for intelligent agents and decentralized applications.
$2 million — AINX. A decentralized AI computing network built on the Helioq protocol closed a seed round led by AlphaGamma. It also included business angels. The key product of the project is the Helioq NodeX device, which allows anyone to contribute to computing power and receive rewards for it. The raised funds will go towards scaling and accelerating ecosystem development.
$2 million — Shards Protocol. The project team announced the completion of a funding round with participation from Animoca Brands, Kyber Ventures, Yield Guild Games, and others. Developers are creating Aura, a protocol that will reward users for their activity in the Web3 space.
$1.5 million — Variational. The peer-to-peer trading protocol for crypto derivatives on the Arbitrum network attracted funding from Mirana Ventures, Caladan, Zoku Ventures (formerly Superpotion), and other key partners. The funds will be used for further development of the Omni platform, which supports hundreds of markets with zero trading fees and narrow spreads, relying on its market maker, Omni Liquidity Provider (OLP).
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