$11.2B in H1 2026 Crypto Funding Went Only to Regulated Firms
BlackRock, Goldman Sachs, Apollo, Mastercard, and Abu Dhabi's $312B ADIA fund all wrote H1 checks, but to licensed firms only. The mix of where capital landed is the actual signal.
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BlackRock, Goldman Sachs, Apollo, Mastercard, and Abu Dhabi's $312B ADIA fund all wrote H1 checks, but to licensed firms only. The mix of where capital landed is the actual signal.
Only 150 unique VCs wrote checks in July, an all-time low outside the 2020 trough. Capital isn't leaving crypto; it's consolidating into fewer, more selective funds.
Just 61 rounds closed in June, down 31.5% from May and 52% below the post-2020 monthly average, the weakest month for venture capital into crypto since November 2020.
The category leads all crypto sub-sectors in average round size this year, running well ahead of exchanges and blockchain infrastructure as capital consolidates around narrative.
Quarterly capital deployed through crypto M&A went from $272M in Q4 2025 to $7.23B in Q2 2026, a curve that mirrors the early institutional ramp into spot BTC and ETH ETFs.
Annual late-stage crypto funding has grown from $1.66B in 2023 to $6.47B YTD in 2026 — a nearly 4x increase in deployed…
Canton Network closed a $335 million funding round, the largest for a live-token project over the past two weeks…
Funding jumped from $60M in Q2 2025 to $600M in Q2 2026 year-on-year — a 10x run that puts AI among crypto's fastest-funded verticals, with the quarter still in progress.
Co-led by Paradigm, a16z crypto, and Ribbit Capital with participation from Apollo, Circle Ventures, and VanEck, the round ranks among the largest in DeFi history and signals TradFi's deeper push…
Roughly 50 deals a month puts the industry back to pre-2021 levels — but Kalshi's $1B round is the reminder that selective capital is concentrating in category leaders, not disappearing.
Most rounds landed before TGE, but $GMEE, $BLOCK, $REPPO and others kept pulling capital post-launch — almost all from Tier 2–4 funds, with Coinbase Ventures the lone Tier-1 name on Centrifuge.