Trends in Global Blockchain Financing
Recent data highlights significant trends in global blockchain financing, revealing a decrease in activity over the past week. From May 26 to June 1, only 11 financing events were reported, tracking a decline from 14 the previous week, with the overall funding totaling approximately $98.5 million. This sharp drop is principally attributed to last week’s figures, which soared to $600 million largely due to adjustments in existing credit lines rather than fresh investments. Notably, Riot Platforms, a publicly traded Bitcoin mining firm, and Coinbase’s credit expansion from $100 million to $200 million significantly influenced those numbers without reflecting new capital influx.
Notable Transactions
Among this week’s most notable transactions was Conduit, which secured $36 million in Series A funding. This round, spearheaded by Dragonfly Capital and joined by investors like Sound Ventures and DCG, brought Conduit’s total investment to $53 million, aiming to streamline international payments using stablecoins.
Eternis AI, the enterprise behind the AI-driven Freysa project on the Base blockchain, also made headlines by successfully raising $30 million. Their backers included Coinbase Ventures and Selini Capital, indicating strong tech industry interest.
Other Significant Funding Rounds
Other significant funding rounds included:
- Donut Labs: raised $7 million for its innovative AI-driven crypto browser, with lead investors ranging from Sequoia Capital to HackVC.
- Cooking.City: attracted $7 million with Jump as the lead backer for its token issuance platform in the Solana ecosystem.
- Acurast: completed a $5.4 million round aimed at enhancing its technology for confidential computing.
- Oncade: raised $4 million to develop its game distribution platform.
- Assisterr: garnered $2.8 million in funding, reflecting expanding interest in decentralized AI technologies.
- Dexari: raised $2.3 million for its cryptocurrency wallet.
- Alph.AI: fetched $2 million to enhance its smart trading platform.
- BlockSpaces: completed a $2 million strategic financing round focusing on Bitcoin infrastructure.
- Revolving Games: a Web3 gaming publisher, secured a new round of funding led by Pantera Capital, with the exact amount remaining undisclosed.
Amidst this landscape, the trends highlight ongoing innovation within the blockchain sector despite fluctuating investment levels.
