Crypto startups closed 22 funding rounds worth $861M over the past week, led by Ionic Digital's $400M raise and a $288M acquisition of Bitbank by Japan's SBI Group.
Ionic Digital, a digital-asset infrastructure company spun out of the bankrupt FTX estate, took the week's largest single check. The size signals that institutional-grade custody and staking infrastructure continues to absorb capital even as public-token appetite cools.
Bitbank's $288M exit to SBI Group is the more structural story. SBI already holds a stake in the Japanese exchange, and a full acquisition consolidates domestic crypto-banking under a single regulated balance sheet ahead of any further licensing reform in Tokyo.
Why it matters
A $400M private round and a $288M strategic acquisition in the same week show two distinct sides of the crypto capital cycle: late-stage infrastructure still gets priced for institutional demand, while regional exchanges are quietly folding into TradFi incumbents. The mid-tier of the list, including Venice AI's $65M, Allium's $40M, and Ornn's $33M, points to continued VC appetite for data, AI-agent, and consumer-facing crypto apps, even at lower check sizes.
Source: [source](http://telegraph.controller.bot/files/8336652911/AgACAgIAAxkBAAI-xWpJWxgpT4nBSsTMaijwuFVSPBfBAAIIIGsbq2VISoPGW8Im0grSAQADAgADeQADPAQ)
Frequently asked questions
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Which crypto startup raised the most this week?
Ionic Digital led the week with a $400M raise. The firm is a digital-asset infrastructure company spun out of the bankrupt FTX estate.
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Who acquired Bitbank and for how much?
Japan's SBI Group acquired Bitbank for $288M. SBI already held a prior stake, making this a full consolidation of the exchange under a regulated balance sheet.
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How much total funding did crypto startups raise this week?
Crypto startups closed $861M across 22 rounds in the past week, with Ionic Digital and Bitbank accounting for the bulk of the deployed capital.
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What does a $288M acquisition of Bitbank by SBI mean for the Japanese market?
It consolidates domestic crypto-banking under a single regulated balance sheet ahead of further licensing reform in Tokyo, removing a standalone exchange from the competitive set.
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Which smaller crypto rounds stood out beyond the top two?
Venice AI raised $65M, Allium $40M, Ornn $33M, Onyx Odds $20M, and Extended $12.5M, showing continued VC appetite for data, AI-agent, and consumer-facing crypto applications.
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