Organized by Luan Peng, RootData
According to incomplete statistics from RootData, there were a total of 25 public financing events in the blockchain and crypto industry from November 25 to December 1, 2024, raising a cumulative amount of approximately $183 million.
In terms of sector distribution, projects that received funding are mainly distributed in the infrastructure and DeFi sectors. Popular projects include modular L1 network U2U Network, stablecoin issuance protocol usdx.money, prediction market BRKT.gg, and privacy-first social protocol Rarimo.
In addition, blockchain payment company Partior has completed an $80 million Series B funding round, with Deutsche Bank joining as a new investor. This round of financing was initially launched in July 2024, with investors including Peak XV Partners, JPMorgan, Jump Trading Group, Standard Chartered, Temasek, and Valor Capital Group.
(List of projects that raised more than $5 million last week, data source: Rootdata)
1. Infrastructure
Modular L1 network U2U Network has completed a $13.8 million funding round, with JDI Ventures and others participating.
Modular L1 network U2U Network has completed a $13.8 million funding round, with investments from KuCoin Ventures, Chain Capital, IDG Blockchain, Cointelegraph, V3V, JDI Ventures, Tesseract, IBG, Blockhive, Maxx Capital, UB Ventures, and others. The funds raised will support the ongoing development of U2U Network Subnet technology.
U2U Network is a Layer-1 blockchain that uses DAG technology and is EVM-compatible. The innovative subnet technology of U2U Network allows developers to create scalable and flexible subnets, making it an ideal platform for efficient DePIN development. U2U Network is composed of early contributors from Ethereum, Google, and Infina.
Chloe Phung, co-founder and co-CEO of U2U Network, stated that it is about to go public.
DePIN + AI project PinGo based on the TON chain has received investment from UFLY Labs.
According to official news, the first DePIN + AI project based on the TON chain, PinGo, has successfully received investment from UFLY Labs, with the specific amount not disclosed. This funding round will help PinGo accelerate the development of its exclusive DePIN blockchain network, driving the next wave of decentralized innovation. By combining cutting-edge technology with real-world applications, PinGo aims to bring more possibilities to the decentralized ecosystem.
Earlier, PinGo launched an airdrop subscription activity on Gate Web3 Startup, attracting a total of 56,271 participants and raising a total of 19,589,740 GT, with the subscription progress reaching 538,623.59%.
PinGo, as the first AI + DePIN project based on the TON network, aims to redefine the way computing resources, datasets, and artificial intelligence are acquired.
UFLY Labs is the ecological fund of UXLINK. It focuses on investing in innovative projects with cutting-edge technologies or products, relying on UXLINK's strong community and ecosystem to always be at the forefront of technological innovation and real user feedback.
AI blockchain platform Talus Network has completed a $6 million funding round at a $150 million valuation, led by Polychain Capital.
AI blockchain platform Talus Network has completed a $6 million funding round, with a valuation of $150 million, led by Polychain Capital, with participation from Foresight Ventures, Animoca, Geek Cartel, Echo, and angel investors Sandeep Nailwal, co-founder of Polygon, Kenzi Wang, core contributor of Sentient and co-founder of Symbolic Capital, Michael Heinrich, CEO of 0G Labs, Nick Emmons, CEO of Allora Labs, and Atlan Tutar, co-founder of Nuffle Labs. Talus's total funding has now reached $9 million.
This funding will help further develop the Talus ecosystem, including Protochain, Nexus framework, and the 'AI dating experience' application.
According to RootData, Talus Network is a blockchain platform focusing on decentralized artificial intelligence. The network leverages the powerful capabilities of Move, emphasizing security, speed, and enhanced developer experience. Talus Network aims to create a future where users are empowered in a fair and accessible manner by fostering a diverse ecosystem of intelligent agents for decentralized applications.
Crypto payment company Request Finance has acquired Pay.so and launched a crypto/fiat payment solution.
Crypto payment company Request Finance has announced the acquisition of regulated Lithuanian VASP company Pay.so and launched a crypto/fiat payment solution.
This acquisition enables Request Finance to provide a fully compliant one-stop payment solution, connecting cryptocurrencies and fiat currencies, thereby simplifying global transactions for businesses of all sizes.
It is reported that Pay.so operates under one of the most powerful and reliable regulatory frameworks for companies providing digital asset services. Pay.so has grown tenfold in just 9 months, solidifying its position as a major partner for large companies adopting digital currency. Pay.so is one of the companies with the broadest currency coverage in the market, providing various fiat payments in currencies including USD, EUR, GBP, AUD, CHF, SGD, NZD, THB, HKD, IDR, CAD, INR, AED, KRW, JPY, MYR, and PHP for Request Finance's clients for months.
Additionally, according to Web3 asset data platform RootData, Request Finance is an integrated financial solution for Web3 businesses, helping crypto project teams, DAOs, and their accountants streamline their corporate crypto payments and financial reporting.
BNB Chain ecosystem re-staking infrastructure Kernel has raised a total of $10 million in multiple funding rounds, with participation from Binance Labs and others.
BNB Chain ecosystem re-staking infrastructure Kernel has announced that it has raised a total of $10 million in multiple funding rounds, with investors including Binance Labs, SCB Limited, Laser Digital, Bankless Ventures, Hypersphere, Draper Dragon, DACM, CYPHER, ArkStream Capital, HTX Ventures, Avid VC, GSR, Cluster Capital, Longhash Ventures, Via BTC, Side Door Ventures, NOIA, and DWF Labs.
Kernel includes three DeFi products: cross-chain re-staking infrastructure Kernel on BNB Chain (mainnet launching soon), liquidity re-staking protocol Kelp on Ethereum, and RWA tokenized yield protocol Gain. Kernel states that KERNEL tokens will unify governance and incentive measures for Kelp, Kernel, and Gain, rewarding early supporters and promoting ecosystem development.
2. DeFi
Stablecoin issuance protocol usdx.money has completed a $45 million funding round, with participation from BAI Capital and others.
Stablecoin issuance protocol usdx.money has completed a $45 million funding round, bringing the project's valuation to $275 million. Investors include NGC, BAI Capital, Generative Ventures, UOB Venture Management, with some investors injecting funds through warrants. Existing supporters of the project include Dragonfly Capital and Jeneration Capital.
usdx.money aims to build the next generation of stablecoin infrastructure, with USDX as its first stablecoin product. After completing the funding, usdx.money will further accelerate its ecological layout, promoting the application of stablecoin USDX and sUSDX in multiple fields.
The Solana-based investment platform Margarita Finance has completed a $1 million Pre-Seed funding round.
According to official news, Margarita Finance has announced the completion of a $1 million Pre-Seed funding round, with participation from Tomahawk.VC, Outrun Ventures, G-20 Group, and N&V Capital. Additionally, Margarita Finance has also received funding from the Solana Foundation.
According to reports, Margarita Finance is an investment platform built on the Solana blockchain that brings Wall Street-style structured products into the cryptocurrency world, providing returns through customizable 'yield boosters'. Users can choose their own crypto assets, lock-in periods, and target yields, with the platform using options strategies to generate returns.
DeFi derivatives protocol Cega has announced it has been acquired by a 'leading platform' and will shut down its platform by the end of the year.
DeFi derivatives protocol Cega has announced that it has been acquired by a 'leading platform', with details on the acquirer and acquisition amount undisclosed.
The company has announced that it will discontinue its product suite by the end of the year, with Cega's platform no longer accepting deposits, and the protocol urging users to begin withdrawals as the protocol's products will cease operations by the end of this year. Cega stated on X: 'Cega's original vision was to create the next evolution of DeFi derivatives.'
Today, we are pleased to announce that we have been acquired by a leading platform and will continue to drive this vision forward. Our team is proud to have been the first to introduce exotic options to DeFi, processing 500 million transactions and safely safeguarding user funds over three years.
Binance Labs has announced an investment in Astherus.
Binance Labs has announced an investment in multi-asset liquidity hub Astherus, which aims to address inefficiencies in DeFi by focusing on maximizing the real yield of assets, providing sustainable and substantive returns while enhancing the utility and liquidity of digital assets within the ecosystem.
Astherus plans to launch AstherusLayer, a Layer-1 blockchain dedicated to DeFi, which will support multi-asset staking and utilize BNB as gas fees.
Astherus will leverage the newly acquired funds to accelerate product development, launch innovative yield products, and optimize user experience, aiming to expand yield strategies and simplify DeFi interaction processes.
Crypto yield protocol developer Avant has completed a $6.5 million seed funding round, with participation from Superlayer and others.
Crypto yield protocol developer Avant has completed a $6.5 million seed funding round, post-money valuation of $25 million, with participation from Superlayer, Avalaunch, GoGoPool, Daybreak Digital, and Linda Kreitzman. Founder Rhett Shipp stated that Avant was established in June this year, began informal discussions with investors in May, officially started fundraising in October, and completed it earlier this month.
According to reports, Avant has issued a 'stable value' token called avUSD, which can be earned by staking savUSD (the yield version of avUSD). Avant Protocol is still in its early stages, operating in 'early access' mode, allowing only a selected whitelist of addresses to mint and stake avUSD. Shipp stated, 'This whitelist will expand in the coming weeks.' He also added that avUSD and savUSD are planned for full public release in December. (The Block)
Vanilla Finance has completed a Pre-Seed funding round, led by ABCDE Labs and others.
According to Bitcoin.com, Vanilla Finance has announced the completion of a Pre-Seed funding round, led by Paper Ventures, UOB Ventures, and ABCDE Labs, with participation from HTX Ventures, Ocular, Openspace, Y2 Ventures, Signum Capital, and angel investors from projects like STEPN and Scroll.
Long-tail asset liquidity platform Tren Finance has announced the completion of a seed funding round, with participation from Contango Digital Assets and others.
Long-tail asset liquidity platform Tren Finance announced on X that it has completed a seed funding round, with institutions including Contango Digital Assets, Maven Capital, Moonrock Capital, OIG Capital, Metabros, OZARU Ventures, and others participating.
It is reported that the funding will be used to build the (re)enable protocol for DeFi.
Additionally, according to the Web3 asset data platform RootData, Tren Finance is a liquidity platform for crypto long-tail assets. By supporting niche assets as collateral, Tren Finance aims to unlock higher capital efficiency for various crypto assets.
DeFi project OpenTrade has completed a $4 million seed extension funding round, led by AlbionVC.
DeFi project OpenTrade has announced the completion of a $4 million seed extension funding round to build RWA-backed loans and stablecoin yield products. This round was led by AlbionVC, with participation from a16z Crypto and CMCC Global.
OpenTrade CEO David Sutter stated: Stablecoins play a crucial role in the crypto ecosystem, bridging the gap between digital assets and traditional finance. As the crypto ecosystem matures, our technology enables fintech companies and exchanges to offer seamless integration, secure, and fast stablecoin yield products to meet high demand levels.
According to RootData, OpenTrade is built on Circle's payment and DeFi infrastructure, allowing regulated asset management firms to create on-chain lending products with yield bearing by depositing USDC or EURC into on-chain vaults with certain investment standards and target yields.
3. Gaming
Prediction market BRKT.gg has completed a $1.75 million seed funding round.
According to official news, prediction market BRKT.gg has announced the completion of a $1.75 million seed funding round, led by Foresight Ventures, with participation from Orange DAO, V3V Ventures, MEXC Ventures, 280Capital, Triton Liquid Fund, Movement, Silvermine Capital, and Nibiru Chain.
According to reports, BRKT.gg is a decentralized prediction market powered by Movement. In less than six months, it has attracted over 300,000 users.
Web3 gaming ecosystem company N3MUS has completed an $800,000 Pre-Seed funding round, led by Moonbeam Foundation.
Web3 gaming ecosystem company N3MUS has announced the completion of an $800,000 Pre-Seed funding round, led by Moonbeam Foundation, with participation from Arrington Capital, Borderless Capital, Techstars, Frens Syndicate, Paka Fund, Metazero Capital, Black Dragon, and x21. The new funds will be used to advance its Web3 gaming ecosystem, focusing on user acquisition, competitive gaming, and cross-chain gaming experiences.
Additionally, according to Web3 asset data platform RootData, N3MUS is a Web3 gaming ecosystem that aims to seamlessly integrate blockchain into mainstream gaming. This is achieved through its three main products, including N3MUS ID, a Web3 account abstraction wallet for game studios; N3MUS tournaments, allowing players to participate in skill-based competitions and climb leaderboards for rewards; and a game hub for players to explore and engage in various games.
Balance has announced that Key Node node sales are now live.
Web3 experience infrastructure Balance has announced that Key Node node sales are now live, with nodes being sold on a first-come, first-served basis and in limited quantity.
According to RootData, Balance is a Web3 experience infrastructure built by the Epal team for large-scale user adoption, aiming to provide a smooth transition experience for Web2 users to Web3. Balance leverages its user traffic pool to bring transformation to multiple industries (especially social and gaming) by combining blockchain and AI technologies.
Balance has successfully completed two funding rounds led by Andreessen Horowitz (a16z) and Galaxy Interactive, with a total funding amount reaching $30 million, with participating institutions including Animoca Brands, K5, CLF Partners, MBK Capital, New Heights Fund, AMBER, MarbleX, and others.
Web3 gaming studio Qooverse has completed a Pre-seed funding round, led by Paper Ventures.
Web3 gaming studio Qooverse has completed a Pre-seed funding round, led by Paper Ventures, with participation from Animoca Brands, Merit Circle, and notable angel investors. The specific amount has not been disclosed.
Qooverse is a Web3 gaming studio founded by senior individuals from Tencent and Goldman Sachs. Qooverse plans to conduct a TGE in early 2025 and is currently developing a moderately casual social gaming ecosystem that will be released on Telegram and more social platforms in the future.
4. Social
Privacy-first social protocol Rarimo has completed a $2.5 million Vision funding round, with participation from Vitalik and others.
Privacy-first social protocol Rarimo has announced the completion of a $2.5 million Vision funding round, specifically for founders. Investors include Ethereum co-founder Vitalik Buterin, Celestia co-founder Nick White, RiscZero co-founder Brian Retford, Gnosis co-founder Stefan George, Aleo co-founder Alex Pruden, Monad co-founder Keone Hon, Aztec co-founder Zac Williamson, Arnaud Schenk, Aztec co-founder and Zcash contributor Ariel Gabizon, Alpen Labs founder Liam Eagan, Polygon Zero co-founder Daniel Lubarov, and Pavel Kravchenko, co-founder of Distributed Labs.
According to the Web3 asset data platform RootData, Rarimo is an interoperability protocol that makes assets, identities, and dApps multi-chain, making cross-chain operations like transferring tokens, staking tokens, etc., easier, while providing proof of ownership across chains. The project is developed by Rarify Labs.
5. Others
Bleap has completed a $2.3 million Pre-seed funding round, led by Ethereal Ventures.
"Blockchain bank account" Bleap has completed a $2.3 million Pre-seed funding round, led by Ethereal Ventures, with participation from Maven11, Alliance DAO, Robot Ventures, Credibly Neutral, and senior executives from angel investors Revolut, Phantom, OKX, EigenLayer, and Consensys.
This funding will be used to help develop a self-custody payment application that allows customers to spend stablecoins in the real world through a linked Mastercard debit card, guaranteeing no conversion or exchange fees, and earning up to 2% cash back on purchases. Bleap is currently testing this for some EU users, with plans for a full public deployment in the first quarter of 2025, and the token is expected to launch in 2026.
Blockchain payment company Partior has completed an $80 million Series B funding round, with Deutsche Bank participating.
According to Cryptonews, blockchain payment company Partior has completed an $80 million Series B funding round, with Deutsche Bank joining as a new investor. This round was initially launched in July 2024, with investors including Peak XV Partners, JPMorgan, Jump Trading Group, Standard Chartered, Temasek, and Valor Capital Group.
Partior was established in 2021, supported by financial institutions such as DBS Bank and JPMorgan. The company provides real-time settlement services through its blockchain platform, aiming to solve sequential processing issues in traditional payment systems. Deutsche Bank's global institutional cash management head Patricia Sullivan stated that the bank, as the largest euro clearing bank, plans to join the Partior platform as a euro and dollar settlement bank.
The funds will be used to strengthen Partior's global expansion and develop new features such as intra-day foreign exchange swaps. Notably, Deutsche Bank has been increasing its investment in the cryptocurrency field in recent years and applied for a digital asset custody license with German financial regulators in June 2023.
Swedish publicly listed company Hilbert Group has acquired digital asset management company Liberty Road Capital.
According to Cointelegraph, Swedish publicly listed company Hilbert Group has announced the acquisition of Liberty Road Capital (LRC), with all AUM, existing customer relationships, key employees, and all intellectual property acquired by Hilbert Group.
LRC co-founder Russell Thompson will join Hilbert Group. Thompson co-founded the traditional hedge fund The Cambridge Strategy in 2003, which once managed $3.5 billion in assets and was successfully sold in 2018. LRC was established in 2019 and is headquartered in the British Virgin Islands, holding an investment management license issued by the local Financial Services Commission.
According to the agreement, in the next two years, LRC's business income will be split 50:50, with LRC committing to convert all of its share of the income into new Class B shares of Hilbert Group. Hilbert Group CEO Niclas Sandström stated that this acquisition will significantly accelerate the company's business development and expand the scope of trading strategies.
Stablecoin issuer Schuman Financial has completed a $7.36 million seed funding round, led by RockawayX.
Stablecoin issuer Schuman Financial has completed a $7.36 million seed funding round, led by RockawayX, with participation from Lightspeed Faction, Kraken Ventures, Nexo Ventures, Gnosis VC, Delta Blockchain Fund, and Bankless Ventures.
Additionally, Schuman Financial has launched the euro stablecoin EURØP compliant with MiCA standards.
Schuman Financial has become the first European company to obtain a stablecoin issuer license in France, building an ecosystem around EURØP, which includes SEPA integration, banking channels, and custodial partnerships with top global banks like Société Générale.
