Financing Weekly丨16 projects raised 3 billion USD, Deribit takes the lead.

Organization: Golden Finance

The largest round of financing this week

Deribit raised $2.9 billion from Coinbase in a round of merger financing.

Deribit is a centralized cryptocurrency derivatives exchange that offers futures, options, and perpetual contract trading for Bitcoin, Ethereum, and other major assets. It is known for its deep liquidity, high leverage (up to 100x), and advanced trading tools tailored for both institutional and retail traders. Deribit dominates the crypto options market, handling over 85% of the global trading volume.

Seed Pre-Financing and Seed Round Financing

Xpfinance raised $200,000 in a seed round financing from the Xenoverge Angel Fund.

Xp.Finance is a fully decentralized, non-custodial lending protocol built natively on the XRP Ledger (XRPL). It allows XRP holders to earn yields through over-collateralized loans while maintaining full custody of their assets. Leveraging the fast settlement speeds and low transaction fees of XRPL, Xp.Finance offers a transparent and secure decentralized finance (DeFi) platform. The protocol is governed by the $XPF token, with token holders enjoying governance rights, reduced borrowing costs, and staking rewards.

GoQuant raised $4 million in a seed round financing from GSR Markets LTD, Copper co, Lombard Odier, Capital Union Bank, TYR Capital, FRNT Financial.

GoQuant is a digital asset trading infrastructure provider based in Miami, offering ultra-low latency execution services, dedicated trading infrastructure, and fixed fee models for institutional clients. Its platform includes an Order Execution and Management System (OEMS), comprehensive market data services, and portfolio and risk management tools. GoQuant is capable of integrating centralized exchanges, decentralized platforms, OTC trading desks, and market makers to provide seamless access to diversified liquidity.

T-Rex raised $17 million in a round of Pre-seed funding from Portal Ventures, North Island Ventures (NIV), Framework Ventures, Arbitrum Gaming Ventures, ArkStream Capital, Mindfulness Capital, Hypersphere, SNZ Holding, Arche Fund (Coin98 Ventures).

T-Rex is a Web3 consumer-grade entertainment platform and Layer 1 blockchain that allows users to earn rewards by engaging with content on platforms like X, TikTok, and YouTube. It employs a Proof of Engagement (PoE) mechanism, utilizing zkTLS technology to verify user activity while protecting privacy. Users can earn points and redeem cryptocurrency by clicking on screen prompts ("popcorn") while watching content. The system learns user preferences based on interaction behaviors and recommends personalized dApps and content. T-Rex is built on Arbitrum Orbit, providing developers with low-latency, high-throughput infrastructure to build consumer-facing applications.

Xweave raised $3 million in a seed funding round from Jungle Ventures, Lightshift, Menyala, White Star Capital, Fabric Ventures, Digital Currency Group (DCG), The Venture Dept.

Xweave is a fintech platform headquartered in Singapore that provides a blockchain-based non-custodial infrastructure for real-time, compliant cross-border payments. It enables instant fiat-to-fiat transactions using regulated stablecoins without the need for pre-funding reserves while reducing foreign exchange risk. The platform integrates traditional fiat systems with the stablecoin network, achieving seamless connectivity for fund flows between markets.

Other Financing Situations

Fleek raised $7 million in a round of Public Sale financing.

Fleek is an Agentic Cloud platform aimed at AI agents and virtual influencers, providing developers, creators, and brands with all the tools needed to build, manage, and monetize AI agents. As the next evolutionary stage following websites and applications, Fleek offers high-end cloud services tailored for AI-native interactions, digital avatars, social agents, and marketing campaigns, driving the transformation of future online interactions.

Sonic Labs (formerly Fantom) raised $10 million from Galaxy Digital in a strategic funding round.

Sonic Labs is a high-performance, EVM-compatible Layer 1 blockchain born from the new idea of the Fantom network. It uses a Directed Acyclic Graph (DAG)-based consensus mechanism and Proof-of-Stake (PoS) to process up to 400,000 transactions per second with a finality of less than 1 second. Features include the Developer Fee Monetization (FeeM) program, which allows developers to earn up to 90% of transaction fees. The native token $S is used to pay transaction fees, staking, and governance. Sonic Gateway provides a decentralized cross-chain bridge with Ethereum to ensure the security and efficiency of asset transfers.

Securitize raised an undisclosed amount in a round of strategic financing from Jump Crypto.

Securitize is a compliance platform and protocol for issuing and managing digital securities on the blockchain.

MYX Finance raised $180,000 in a round of Public Sale.

MYX.Finance is a decentralized derivatives exchange (DEX) that redefines the trading experience with its innovative P2Pool2P model and smart funding rate mechanism. The platform uses a single trading pair liquidity pool system, simplifying liquidity management and allowing traders to focus on strategy execution. The products include a diverse range of derivative tools such as perpetual contracts and options.

DogeOS raised $6.9 million in a round of financing from Polychain Capital.

DogeOS is an open-source application development and cloud infrastructure layer built for the Dogecoin ecosystem, supporting a variety of decentralized applications (dApps) including games and AI. The platform is centered around SmartOS and Project FiFo, featuring advanced components such as ZFS storage, DTrace, lightweight Zones, and KVM virtualization. DogeOS achieves efficient, secure, and scalable deployment of applications through its built-in virtual machine orchestration capabilities, serving as a platform that unifies user-level dApps with the infrastructure under a community-driven framework.

Sentora raised $25 million in a Series A funding round from New Form Capital, Joint Effects, Tribe Capital, Ripple, UDHC, Curved Ventures, Bankai Ventures.

Sentora is an institutional-grade DeFi asset management platform that integrates data analytics from IntoTheBlock and structured liquidity solutions from Trident, providing a unified interface for managing multi-chain protocol interactions. The platform offers advanced DeFi strategies, robust risk management, and enterprise-level security guarantees, helping institutional clients formulate and expand their digital asset strategies.

Litheum raised $750,000 in a round of Strategic financing from Alphemy Capital and Amber Group.

Litheum is the next-generation Layer 1 blockchain platform, designed to support DeFi, microfinance, and AI applications. The platform innovatively introduces the "Proof of Performance (PoP)" consensus mechanism, rewarding each critical RPC operation to achieve true decentralization and scalability. Litheum can handle microtransactions on a large scale, suitable for scenarios such as microloans, automated investment, and AI smart contracts for user agents, aiming to break through the limitations of traditional blockchains.

AppLayer (formerly SparqNet) raised an undisclosed amount from Arcanum Ventures in a funding round.

AppLayer is a modular, EVM-compatible high-performance blockchain platform designed for cross-chain dApps. It employs a C++ based execution engine and features state precompilation, achieving up to 65 times faster speed compared to traditional EVM networks. The platform facilitates efficient interoperability of data and assets across multiple chains through the Chain Abstract Network (CAN), supporting several blockchains including Ethereum and Solana, and provides a Blockchain Development Kit (BDK) for developers to build and manage scalable applications, supporting both Solidity and native C++ smart contracts.

BVNK raised an undisclosed amount from Visa in a funding round.

BVNK is a fintech company that provides stablecoin payment infrastructure, connecting traditional banking systems with blockchain technology to accelerate the efficiency and convenience of global capital flow.

Alt DRX raised $2.7 million in a Series A round from Qatar Development Bank, Brand Capital, Hindustan Media Ventures (HMVL), Zee Group, WeFounderCircle, nX Capital.

Alt DRX is a blockchain-based digital real estate exchange where users can invest in and trade residential asset tokens starting from 1 square foot. The platform democratizes real estate investment and enhances asset liquidity through distributed ownership and real-time pricing mechanisms, improving asset transparency. Alt DRX is active in the digital asset regulatory sandbox of IFSCA and the Qatar Financial Centre, aiming to disrupt traditional real estate investment models.

Tea-Fi raised an undisclosed amount in a funding round from Castrum Capital.

Tea-Fi is a comprehensive DeFi platform dedicated to simplifying digital asset management by integrating various financial services. The platform features yield aggregation, staking, lending, and cross-chain trading, emphasizing user privacy and control, providing users with a unified and convenient asset management experience.