Author | Wu Says Blockchain
According to RootData statistics, there were a total of 95 investment projects publicly disclosed by Crypto VCs in October, a month-on-month decrease of 3% (98 projects in September 2024) but a year-on-year increase of 16% (82 projects in October 2023). Note: Since not all financing is disclosed in the month it occurs, the above figures may increase in the future. The classification of various sub-sectors is as follows:
Among them, CeFi accounts for about 6%, DeFi accounts for about 20%, NFT/GameFi accounts for about 14%, L1/L2 accounts for about 15%, RWA/DePIN accounts for about 6%, Tool/Wallet accounts for about 4%, and AI accounts for about 8%.
The total financing amount in October was $780 million, a month-on-month increase of 28% (totaling $610 million in September 2024) and a year-on-year increase of 73% (totaling $450 million in October 2023). Among them, the top 10 rounds ranked by amount are as follows:
Payment company Stripe acquires Bridge for $1.1 billion. Bridge is Stripe's largest acquisition to date and the biggest acquisition in the history of the crypto industry.
Bitcoin sidechain Liquid developer Blockstream completes $210 million in convertible note financing, led by Fulgur Ventures. This round of financing will be used to accelerate the market adoption and development of Blockstream L2 technology.
Chain game developer Azra Games announces on platform X that it has completed $42.7 million in Series A funding, led by Pantera Capital, with participation from a16z, NFX, and others.
African fintech company Yellow Card completes $33 million in Series C funding, led by Blockchain Capital. Yellow Card is the largest and first licensed stablecoin trading platform on the African continent.
Blockchain solar company Glow completes $30 million financing, led by Framework Ventures and Union Square Ventures. It is reported that Glow operates distributed solar grids in the US and India through DePIN technology, aiming for 100% renewable energy. Glow adopts a recursive subsidy model, channeling funds into solar farms that are close to breaking even, with the revenue generated from electricity being allocated to an incentive pool to support more solar projects.
Privacy blockchain project Nillion announces the completion of $25 million in financing, led by Hack VC, with participation from Arbitrum, Worldcoin, Sei, and others. Nillion uses 'blind computation' technology to perform calculations without exposing data content, suitable for the data storage needs of blockchain and AI projects.
Cryptocurrency derivatives trading platform Bitnomial completes $25 million in financing, led by Ripple Labs. Additionally, Bitnomial has launched a perpetual futures trading platform called Botanical in the US. Bitnomial CEO Luke Hoersten stated that the platform aims to provide a regulated and innovative trading experience, utilizing Ripple's RLUSD stablecoin to settle perpetual futures.
The team behind Solana ecosystem DEX Phoenix, Ellipsis Labs, completes a new round of funding totaling $21 million, including $20 million raised from Haun Ventures and $1 million from other investors, to accelerate the launch of the Layer2 blockchain Atlas focused on verifiable finance.
Paradigm CTO Georgios Konstantopoulos announces the launch of the Ithaca project and secures $20 million from Paradigm. The first step is Odyssey, an open-source L2 testnet built by Reth, OP Stack, and Conduit.
Decentralized social platform Bluesky announces the completion of $15 million in Series A funding, led by Blockchain Capital, with participation from SevenX, True Ventures, and Alumni Ventures.
