Crypto Projects Raise $10B in 2023: Trump-Linked Firm Among Top Three
Crypto Fundraising Surges in 2025: Key Players and Trends
Record-Breaking Fundraising in the Crypto Sector
In the first half of 2025, cryptocurrency projects have outperformed their 2024 fundraising totals, amassing over $10.3 billion. This figure marks an increase of $700 million compared to the entire previous year, as reported by DefiLlama. Venture capitalists are optimistic, projecting that the total raised could reach $25 billion by the end of this year.
Major Contributors to the Fundraising Boom
Circle: A Groundbreaking IPO
Circle, the issuer of a prominent stablecoin, successfully raised $1.1 billion during its public offering on the New York Stock Exchange in June. Following its debut, Circle’s stock price has skyrocketed by more than 500%. This remarkable IPO has generated significant interest in stablecoins, with the market now valued at $253 billion. Analysts at Bernstein predict that this sector could expand by nearly 1,500% over the next decade, potentially reaching a staggering $4 trillion. Much of this growth is attributed to favorable regulatory developments anticipated under the current administration.
The Open Network Foundation: Continued Investor Interest
The Open Network Foundation, commonly known as the TON Foundation, has captured the attention of investors once again. After concluding 2024 with a $20 million funding boost, the organization secured an additional $400 million in March through the sale of its Toncoin cryptocurrency. Notable backers of this round include Sequoia Capital, Ribbit, and Benchmark, among others. However, the foundation’s CEO, Pavel Durov, has faced legal challenges in France, where authorities have accused Telegram of facilitating illegal activities, claims that Durov has denied.
World Liberty Financial: Ties to the Trump Family
World Liberty Financial raised $300 million in a token sale that coincided with Donald Trump’s inauguration on January 20. The project has since generated an additional $385 million through subsequent sales, launching a dollar-pegged stablecoin named USD1 in March. Although the venture is not directly owned by Trump or his family, they play a significant role in its promotion and development, with plans to share in its profits. This initiative is part of a broader crypto enterprise associated with Trump, which includes various digital assets and mining operations. Critics have labeled these ventures as “open corruption,” particularly in light of the government’s relaxed stance on crypto regulation.
Additional Noteworthy Fundraising Efforts
In a related development, Hut 8, a Bitcoin mining company co-founded by Eric Trump, disclosed a $220 million fundraising effort aimed at acquiring Bitcoin and enhancing mining infrastructure. This highlights the ongoing involvement of the Trump family in the cryptocurrency space.
This article is part of “The Weekly Raise,” a series that explores fundraising activities within the cryptocurrency and decentralized finance sectors, powered by DefiLlama. For tips or insights, reach out to Eric Johansson at [email protected].
