Crypto’s Big Money Play: Bitdeer Snags $179M, Upexi Lands $100M in VC Feeding Frenzy
Mining giant Bitdeer just bulldozed its way to a $179 million funding round—proof that institutional money still believes in proof-of-work, even as regulators sharpen their knives.
Meanwhile, e-commerce crypto hybrid Upexi pocketed a cool $100 million. Because nothing says ’Web3 innovation’ like another nine-figure bet on digital collectibles and tokenized loyalty points.
Wall Street’s playbook remains unchanged: throw capital at the space, then feign surprise when 80% of these ventures crater within 18 months. But hey—those management fees aren’t going to earn themselves.
Bitdeer, $179 million
- Bitdeer raised $179 million in loans and equity, according to The Miner Mag.
- The Singapore-based technology company specializing in blockchain and high-performance computing.
- The investment was backed by Matrixport (founded by Bitdeer Chairman Jihan Wu).
- As of Friday, April 25, Bitdeer held 1,234.4 Bitcoin (BTC), produced 39.3 BTC, and sold 17.0 BTC.
Upexi, $100 million
- Upexi closed a private placement deal, selling 35.97 million shares and 7.89 million pre-funded warrants at $2.28 each.
- The project focus areas include finance, portfolio management, and Solana (SOL).
- GSR led the investment, joined by top crypto VCs like Big Brain Holdings, Delphi Ventures, and others, along with notable angels. Upexi plans to use $5.3 million for working capital and debt reduction, with the rest allocated to building its Solana treasury and accumulating Solana (SOL).
Alpaca, $52 million
- Alpaca raised $52 million in a Series C round
- This round saw participation from new and returning investors, including Derayah Financial, 850 Management, National Investments Company (NIC), Unbound, and Portage Ventures.
- The funding is expected to help Alpaca pursue continued global expansion, serving enterprise institutions and fintech in key regions like the US, the Middle East, and Asia.
Announcing our $52 million Series C raise! 🎉
2024 was a landmark year for Alpaca. We launched several key products including US options trading, High-Yield Cash, IRA accounts, and FIX API, as well as became a self-clearing broker-dealer with DTCC.
This round of funding… pic.twitter.com/Sv0c0DTUKc
Nous Research, $50 million
- The startup gathered $50 million in a Series A round led by Paradigm, according to Fortune.
- Nous Research focuses on artificial intelligence, DeFi, and infrastructure within the Solana Ecosystem.
- The project has raised $70 million so far.
Symbiotic, $29 million
- Crypto staking protocol Symbiotic clinched $29 million in a Series A funding round led by Pantera Capital.
- Symbiotic, whose permissionless restaking platform went live on Ethereum (ETH) in January, announced the milestone on April 23.
- The funding round also attracted the backing of Coinbase Ventures as well as angel investors, including Aave (AAVE), Polygon (POL) and StarkWare among others.
Restaking was just the beginning.
Symbiotic has raised $29M in a Series A, led by @PanteraCapital with participation from @cbventures.
We’re building Universal Staking – a foundation that transforms how blockchains implement security and economic alignment. pic.twitter.com/8ZQIHvfHBc
Theo, $20 million
- Secured $20 million in an Unknown round
- Theo’s investment is backed by Hack VC, Anthos, and Manifold
We’re excited to announce our $20m raise, led by @Hack_VC and Anthos Capital with participation from @ManifoldTrading, @mirana, @metalayervc, SCB, @ambergroup_io, @SeliniCapital, @MEXC_Official, and @flowdesk_co to democratize access to institutional-grade trading infrastructure. pic.twitter.com/Y5P4KwWt1x
— theo (@Theo_Network) April 24, 2025