Funds are mainly concentrated in RWA, payment and infra; crypto venture capital firm dao5 completed the fundraising of US$222 million for its second fund.

7 financings totaled tens of millions of dollars; RockawayX completed the fundraising of its second early-stage fund of US$125 million, and will jointly launch the accelerator center "Solana City" in Dubai with the Solana Foundation and development company Helius Labs on May 1.

The market is mainly focused on DeFi and infrastructure sectors; according to Bloomberg, Galaxy Ventures Fund has exceeded its fundraising target of US$150 million.

Last week, the primary market regained its popularity, with five projects with financing scales of more than 10 million US dollars disclosed. Among them, the cryptocurrency insurance company Meanwhile completed a US$40 million Series A financing round jointly led by Framework Ventures and Fulgur Ventures.

The recent investment and financing market heat has fallen to the lowest level in nearly three months, and capital focus is mainly on Web3+AI, blockchain games and stablecoins.

The investment and financing market showed a significant cooling trend, with both the total financing amount and the size of single transactions showing a significant decline.

The primary market has rebounded significantly, with 9 financings of over 10 million US dollars disclosed last week, and the infrastructure sector has become an investment focus.

The heat of the primary market has decreased; in Q1 2025, venture capital funds in the AI industry were nearly US$20 billion, while US crypto venture capital financing in the same period was only US$861 million.

Crypto venture capital activity picked up in February this year, with 98 projects receiving a total of US$951 million in public financing, a 14% increase from the previous month, but the year-on-year investment level was still down 35%.

Crypto gift card platform Raise announced that it has completed a $63 million financing round, led by Haun Ventures.

Last week, five financings of tens of millions of US dollars were announced; nearly US$100 million flowed into the infrastructure sector.

DeFi and Infra continue to lead in various tracks; Gaorong Capital invested US$30 million in Hong Kong-licensed cryptocurrency exchange HashKey Group.

The sub-sectors of financing projects are relatively scattered, and projects in multiple categories have completed financing.

Large-scale financings are appearing frequently, with 10 financings of tens of millions of dollars disclosed last week.

Infrastructure and tools lead the way; analysts say Trump's move may usher in a wave of tokenized equity financing.

The market continues to recover, and crypto wallets and centralized finance are experiencing an explosion.

Market heat is picking up again; AI-driven encrypted data platform SoSoValue completed a US$15 million Series A financing with a valuation of US$200 million, led by Sequoia China and others.

Market heat has cooled again; DefiLlama data shows that venture capital funds invested a total of US$1.576 billion in crypto start-ups in December 2024, and the monthly financing amount hit a new high since October 2022.

As Christmas week approaches, market enthusiasm begins to decline.

The market focuses on AI and stablecoin projects; crypto funds such as Brevan Howard and Galaxy Digital have annual returns far exceeding traditional funds (Financial Times).