Analysis of the Encryption Venture Capital Market in July 2025

According to statistics from the data platform, there were 61 publicly disclosed encryption venture capital projects in July 2025, a decrease of 7.6% month-on-month and a decrease of 46.5% year-on-year. It is worth noting that the number of small-scale financing has shown a continuous downward trend.

In various sectors, CeFi has the highest share at 26.2%. Following that, AI and DeFi are tied for second place, each accounting for 19.7% and 13.1%. NFT/GameFi also holds a share of 13.1%. Tool/Wallet, RWA/DePIN, and L1/L2 account for 11.5%, 6.6%, and 4.9%, respectively.

Despite the decrease in the number of projects, the total financing amount in July 2025 reached a historical high of $5.361 billion, an increase of 88.4% month-on-month and a significant rise of 426.6% year-on-year.

In a large financing round, a tech company raised $2.521 billion through preferred stock products, with a net gain of approximately $2.474 billion all used to purchase Bitcoin. After the transaction, the company's Bitcoin holdings increased to 628,791 coins, with a market value of about $74 billion. The company's co-founder then stated plans to issue another $4.2 billion in preferred stock to continue purchasing Bitcoin.

Another holding company has completed a $950 million issuance of zero-coupon convertible bonds, maturing in 2032. The funds will be used to purchase more Bitcoin and for general corporate purposes, including acquisitions and asset expansion.

A certain gaming platform issued 125 billion tokens, accounting for 12.5% of the total supply, which sold out in just 12 minutes, raising 500 million dollars. The funds are distributed between on-chain transactions and multiple major exchanges.

A venture capital firm completed a $450 million private fundraising round and launched a public blockchain asset reserve strategy, having accumulated 76,271,187 tokens with an average cost of $3.6389. Several well-known investment institutions participated in this round of financing.

A Nasdaq-listed company has reached a stock financing agreement of up to $500 million with an investment bank to accelerate its public chain treasury strategy. The company has recently increased its treasury to 1.9 million tokens of the public chain.

A publicly listed technology company has completed its second round of private placement of convertible bonds, with the scale significantly exceeding the originally planned £100 million. The funds will be used to expand the business and strengthen its Bitcoin adoption and decentralized AI strategy.

A pharmaceutical company completed a $100 million financing round, planning to use the funds to purchase Litecoin as a financial reserve asset, becoming the first company to be listed on a national exchange and hold Litecoin. The founder of Litecoin joined the company's board of directors.

A cloud mining platform in the UK has completed its Series B funding round, raising $95 million to support the integration of AI technology and cloud mining business.

Another NASDAQ-listed company has completed a $70 million public offering, planning to use most of the funds to increase its holdings of Ethereum.