Crypto startups focused on infrastructure and banking secured nearly $100 million in fresh capital this week. According to data from DefiLlama, eleven companies raised a combined $99.6 million, pushing the total funding for 2025 to almost $22 billion—a figure that already surpasses the entirety of 2024’s fundraising by over $11 billion.

Investor Confidence Remains High Despite Market Volatility

Industry investors expect the trend to continue, projecting that total fundraising could exceed $25 billion this year. According to Mike Giampapa, a General Partner at Galaxy Ventures, the recent market deleveraging in October hasn’t shaken the fundamental positive outlook. He explained that such shocks help to “bulletproof the onchain financial systems of tomorrow,” adding that his firm is more confident than ever that financial services will migrate to blockchain technology.

Karl-Martin Ahrend, co-founder of crypto M&A firm Areta, noted that dealmaking operates on a longer time horizon than short-term market shifts. “So far sentiment and momentum continues to be strong with no notable downturn in interest,” Ahrend said.

Major Acquisitions Signal Industry Consolidation

The week also saw significant acquisition activity. Coinbase acquired token fundraising platform Echo for $375 million, signaling renewed interest in initial coin offerings. In a separate deal, FalconX purchased crypto asset manager 21Shares to deepen its footprint in the growing exchange-traded fund (ETF) market. Likewise, the development team behind the decentralized lending protocol Aave acquired stablecoin savings startup Stable Finance.

Pave Bank Secures $39 Million for Programmable Banking

Pave Bank raised $39 million in a Series A round to scale its programmable banking platform for both fiat and digital assets. The funding was led by Accel, with participation from Wintermute, Quona Capital, Helios Digital Ventures, and Tether Investments. Licensed in Georgia, Pave Bank offers businesses real-time asset management and automated treasury operations. CEO Salim Dhanani said the bank aims to merge the stability of traditional finance with the speed of digital assets.

Sign Raises $26 Million for Blockchain Notary Services

Sign, a blockchain-based notary startup targeting national governments, raised $26 million in a strategic round led by YZi Labs. Backed by prominent investors including Sequoia, Circle, and former Binance CEO Changpeng Zhao, Sign aims to provide governments with a “comprehensive digital asset infrastructure that preserves sovereign authority,” according to its official project document.

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