June’s Crypto Boom: Web3 and Blockchain Startups Rake in $2.8B Despite Market Skepticism

Money talks—and last month, it screamed crypto. Web3 and blockchain ventures vacuumed up a staggering $2.8 billion in June, proving yet again that Silicon Valley’s favorite buzzwords still open wallets faster than a hedge fund’s liquidation event.

Where’s the cash flowing? Everywhere. From decentralized infra plays to NFT platforms resurrecting like digital phoenixes, investors are doubling down on blockchain’s ‘build phase’—even as retail traders get rekt on meme coins.

The punchline? While traditional VCs fret about valuations, crypto’s builders just secured more funding than some small nations’ GDPs. Maybe those ‘useless tokens’ aren’t so useless after all—unless you’re the SEC’s enforcement division.

The top 5 projects in June in terms of the amount of funds raised were as follows:

• $600 million — Lion Group. The Hong Kong-based financial technology company announced the receipt of funds in a debt financing round after its initial public offering (post-IPO). The investment from ATW Partners will be used to build a treasury strategy based on the assets of Hyperliquid (HYPE), Solana (SOL), and Sui (SUI).

• $425 million — SharpLink. The company received investment in a private funding round led by Consensys and with the participation of a number of other counterparties and business angels. The company will use the funds to create an Ethereum reserve.

• $250 million — BitMine. The platform, which provides businesses with access to bitcoin mining at the institutional level, announced that it has raised funds through the sale of shares. The transaction was led by MOZAYYX with the participation of well-known investors such as Founders Fund, Pantera, and others. The company plans to use the investment to purchase Ethereum (ETH) as its main reserve asset.

• $220 million — Hut 8. The bitcoin mining company announced the sale of shares in a post-IPO funding round to accumulate bitcoins and purchase the necessary equipment.

• 176.5 million — Scalable Capital. The German startup raised €155 million in an undisclosed financing round led by Sofina and Noteus Partners. Other investors included Balderton Capital, Tencent, and HV Capital. The funds will be used to scale and launch new products.

Undisclosed details

During the month, many projects raised funding but did not disclose details. Among them: ThermAI, Orionx, YZi Labs, Momentum, Shiga Digital, Quranium, Burstverse, Hyperion, Reveel, Football.Fun, World of Dypians, MWX, Byreal, Rodeo, U2U Network, Hivemapper, Trusta.AI, CodexField, MEET48, and ASX Capital.

Artificial intelligence

In June, a number of AI projects received investments. The Incrypted editorial team has selected five of the biggest ones.

• $14.3 billion — Scale AI. The company, a provider of training data and model evaluation for artificial intelligence (AI) applications, attracted new investments from Meta at a valuation of $29 billion. The deal will expand the commercial relationship between Scale and Meta, with Scale founder Alexander Wang joining Meta to work on its AI efforts.

• 2 billion — Thinking Machines Lab. The AI startup, founded and led by former OpenAI CTO Mira Murati, secured seed round funding at a valuation of $10bn. Andreessen Horowitz led the round with participation from Sarah Guo’s Conviction Partners. This was the largest such round in US history, according to Crunchbase.

• $300 million — Abridge. The startup, which offers AI-based note-taking tools for doctors, closed its Series E round at a valuation of $5.3 billion. Andreessen Horowitz led the financing for the seven-year-old company, which is based in Pittsburgh and San Francisco, along with Khosla Ventures.

• $150 million — Glean. The AI assistant announced the raising of funds in a Series F round led by Wellington Management at a valuation of $7.2 billion. The latest funding came just nine months after Glean raised $260 million in a Series E round, doubling the company’s valuation to $4.6 billion.

• $131 million — Decagon. Agent AI recorded a Series C investment at a valuation of $1.5 billion. The round was led by Accel and Andreessen Horowitz.

Dynamics

Counterparties attracted the largest amount of investments from 14 to 21 June — $894.2 million. This figure was recorded due to capital inflows to Lion Group, which received $600 million from ATW Partners. During this period, 31 projects also received funding. Investors focused on the blockchain services and blockchain infrastructure sectors.

In addition, 10 more projects reported raising funds in the last days of the month, namely:

• $150 million — Bit Digital. The vertically integrated digital asset and AI infrastructure company received funding to buy an Ethereum (ETH) network asset and stop mining Bitcoin. The details of the round were not disclosed.

• $40 million — OpenRouter. The platform led by OpenSea co-founder Alex Atallah, designed to facilitate access to various AI models through a single API, announced the receipt of funds in a combined seed and Series A financing round led by Andreessen Horowitz and Menlo Ventures, as well as Sequoia Capital. The funds are needed to accelerate the development of the platform for aggregating large language models. Other investors include business angels Fred Ehrsam, Amjad Masad, Devin Finzer, Logan Kilpatrick, and Figma.

• $18 million — Cicada. The DeFi platform based on the BNB Chain attracted investment through a public token sale.

• 9.69 million — BACKSEAT. The Japanese-based cryptocurrency trading platform announced a seed round injection, with investments from East Ventures, Headline, and Spiral Capital.

• 5 million — Jarsy. The blockchain-based marketplace closed a pre-seed round of funding, with investments from Breyer Capital, Nathan McAuley, Evan Cheng, Richard Liu, and Karman Ventures.

• 5 million — Spekter Games. The publisher of next-generation games received funds in the pre-seed round from a16z speedrun, Alumni Ventures, Accelerator Ventures, BRV Capital Management, Chamaeleon, Versus Ventures, LVP, and Impact46.

• 4 million — Datagram. The decentralised, real-time communications platform powered by the L1 blockchain on the Avalanche platform secured a pre-seed round, with investments from Animoca Brands, Amber Group, Blizzard Fund, Cointelegraph, Aquanow, and five other participants.

• $2.1 million — InshAllah. The Shariah-compliant DeFi service provider closed its pre-seed round, with investments from Alliance DAO, Polymorphic Capital, Lingfeng Capital, Blockchain Builders Fund, J17 Capital, and 13 other participants.

• $1 million — Byzanlink. The real-world asset (RWA) tokenization platform that facilitates the management of traditional financial assets on the blockchain announced funding in an undisclosed round, with investments from Outlier Ventures, Sensei Capital, Salman Butt, National Technology Development Programme (NTDP), Christopher, Smart IT Frame, and Murali Kulala.

• 1 million — Castle. The platform for automating bitcoin accumulation for small and medium-sized businesses through integrations with payment and accounting systems announced investments from Boost VC, Winklevoss Capital, Epoch VC, and Park Rangers Capital in its pre-seed round.

Between 1 and 7 June, 14 projects received funding totaling $676.7 million. Among them, SharpLink and Scalable Capital obtained the largest amounts of funds.

Between 7 and 14 June 2025, 15 projects attracted investments totaling $172.8 million. Hypernative and Turnkey were the leaders in terms of the amount of funds received.

In the period from 14 to 21 June 2025, the total amount of funding for 31 projects was $894.2 million. Lion Group, EigenLabs, and Yupp received the largest amount of capital.

On 21-28 June 2025, 17 projects got investments totaling $423.1 million. The leaders were Digital Asset, World Liberty Financial, and Zama.

Investors and segments

According to CryptoRank, the most active investors in June 2025 were Coinbase Ventures, Pantera Capital, and Galaxy, with nine, seven, and five investments each.

In June, projects in the following segments obtained funding: blockchain services, blockchain infrastructure, DeFi, CeFi, GameFi, and others.

Last month, 89 projects attracted investments, of which 68 companies received more than $757 million. Read more in the previous issue of the digest:

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Сообщение Web3 and blockchain projects raised a total of over $2.8 billion in June появились сначала на INCRYPTED.