Crypto Venture Capital Funding Summary

Crypto venture capital funding rose 28% year-over-year in 2024, reaching around $13.7 billion, according to The Block Pro’s Funding Dashboard. This marks notable progress compared to 2023, though it still falls short of previous peaks, despite this year’s bullish momentum.

2025 Outlook

Looking ahead to 2025, top crypto VCs are cautiously optimistic. While most agree that funding won’t return to the highs of 2021-2022, there is consensus that startups with strong product-market fit and tangible user adoption are best positioned to attract capital.

Insights from Prominent VCs

• Dragonfly: Focus on DeFi, CeFi, stablecoins, betting on growth due to regulatory changes in the U.S. but cautious about earlier funding levels returning.
• Pantera: Expecting growth in crypto-AI, DePINs, and new Layer 1 blockchains, optimistic about pro-crypto administration.
• Multicoin: Bullish on the Solana ecosystem, predicting continued growth relative to Ethereum. Stablecoins seen as major innovations.
• Coinbase Ventures: Plans to be very active, focusing on the onchain economy and significant applications.
• Binance Labs: Continues “evergreen” investing focusing on fundamentals, emphasizing real-world use cases.
• Galaxy Ventures: Optimistic about stablecoins and tokenization; less so about metaverse projects.
• Hashed: Measured outlook influenced by political factors; prioritizing data infrastructure and regulated systems.
• Hack VC: Expecting higher funding levels, especially in crypto-AI, infrastructure, and DeFi.
• Portal Ventures: Backing integrated platforms; predicting a return of animal spirits but not at previous highs.
• Blockchain Capital: Anticipates funding rises focusing on stablecoin infrastructure and DeFi.

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