Topic
Monthly venture capital volumes, round counts and stage mix for crypto and blockchain companies.
HIFI, Atum and MeshWallet raised $60.5 million for stablecoin payments in the week to Sep. 25, most of crypto's disclosed private funding. The week's one direct bet on a token price came from Forward Industries selling $25 million of stock to buy more Solana.
Reality
Kaiko's $110m was more than three-fifths of everything disclosed in crypto venture funding in the week to September 18. It came from the index provider whose crypto products already carry Kaiko's reference rates.
Reality
The index house behind the S&P 500 led the investment that took Kaiko to $110 million in total funding. Subtract the three earlier rounds and the new money is about $28 million, going into a partner whose product had already shipped.
Perspective Coverage
4 publishersReality
Tracxn counts 25 rounds worth $680 million in the region in 2026 against 46 rounds worth $319 million a year before, so money per round nearly quadrupled while 21 fewer rounds got done. Singapore holds 82.5 per cent of the all-time total.
Reality
A cross-chain firm that never earned enough to fund itself is closing on September 30, and the 303m tokens it will destroy return no cash to holders or to the $4.1mn of 2021 venture money behind it.
Reality
Messari puts Morpho's outstanding loans at a record $5bn, with 95% of it stablecoin credit. About $1.3bn of that comes from Coinbase customers borrowing USDC against $2.5bn of cbBTC, and that prices out as a 52% loan-to-value book, not a leverage book.
Reality
The Sigma Capital-led round takes Beldex to $36 million raised. The roadmap it funds is wider than the cheque, and the institutional privacy bid it rides is mostly a token trade.
Reality
Venture dollars slipped only 6.8% from June, but round count fell 28% to a 12-month low and unique institutional investors fell 31%. Excluding Crypto.com's cheque, investment was down 34%.
Reality