Venture capital financing for cryptocurrencies has once again surpassed $1 billion for the second consecutive month, according to RootData. In April, a total of $1.02 billion was raised through 161 investment rounds, a slight decrease from March’s $1.09 billion across 186 rounds.
This marks the first time since October-November 2022 that the sector has seen two consecutive months of funding exceeding $1 billion. Notable investments include a $47 million funding round led by BlackRock for Securitize, a company specializing in tokenizing real-world assets. Additionally, Monad, a layer-1 blockchain supported by Paradigm and Coinbase Ventures, secured a massive $225 million investment.
Other recipients of funding include the developers behind Berachain, a layer-1 blockchain built on Cosmos, and Auradine, a blockchain infrastructure firm, both receiving $100 million. The top two categories for venture capital financing in 2024 were blockchain infrastructure startups, with a total of $1.7 billion, and decentralized finance protocols, which received $626 million.
On the other hand, decentralized autonomous organizations (DAOs) were the least-funded group in 2024, having only received $3 million so far. However, the sector as a whole is on track to surpass the $9.3 billion received in 2023, with a total of 604 fundraising rounds amounting to over $3.67 billion in 2024.
Since June 2014, the blockchain sector has attracted over $100 billion in investments across 5,195 funding rounds, according to DeFiLlama. Pantera Capital and Paradigm, two prominent venture capital companies, are currently seeking $1 billion and $850 million, respectively, for new crypto funds.
If Pantera Capital’s $1 billion funding round is successful, it will be the largest in the cryptocurrency sector since May 2022, when Silicon Valley-based venture capital firm Andreessen Horowitz (a16z) raised a record-breaking $4.5 billion.
In other news, Jack Dorsey has resigned from the board of decentralized social media platform Bluesky.