In May, the total amount of global Web3 financing reached 917 million US dollars, and Farcaster was valued at 1 billion US dollars

According to statistics from Cailianshe Venture Capital, there were 100 financing events in the global Web3 field in May, which was basically the same as in April; the total financing amount reached US$917 million, a decrease of 5.46% from the previous month. In terms of subdivided tracks, the blockchain infrastructure track had the largest number and total amount of financing in May, with 41 projects receiving a total of US$498 million, but the total financing amount of this track decreased by nearly US$100 million from April; the DeFi track and CeFi track maintained a certain growth in total financing amount. From the perspective of institutional investment, Animoca Brands, OKX Ventures and Coinbase Ventures were the top three investment institutions in May, among which Animoca Brands invested 9 times, 4 of which were in blockchain infrastructure; OKX Ventures invested 5 times, 3 of which were in blockchain infrastructure; Coinbase Ventures invested 4 times, all in blockchain infrastructure. Among them, there were 19 financings of more than 10 million US dollars in May, including 2 financings of more than 100 million US dollars, namely Farcaster and BitDeer. The details are as follows: The decentralized social protocol Farcaster announced on May 21 that it had completed a $150 million Series A financing, with a valuation of $1 billion, led by Paradigm, and participated by a16z crypto, Haun, USV, Variant, Standard Crypto, etc. The project stated that sufficient funds enable Farscater to continue to iterate developer primitives such as channels and direct messaging, while continuing to focus on growth and retaining daily active users of the protocol. In addition, BitDeer Technology Group announced on May 30 that it had reached a subscription agreement with Tether International Limited (Tether Company) to issue 18,587,360 Class A common shares in a private placement and purchase up to 5 million warrants at a price of $10.00 per share. The private placement was completed on May 30, 2024. Bitdeer intends to use the net proceeds from this private placement to fund its data center expansion, ASIC-based mining equipment development, as well as working capital and other general corporate purposes. (Cailianshe)