VCs Pour $1.4B Into Crypto, Including $400M OTC $TON Buy
Fundraising Week 12/2025 by Impossible Finance
What more can you expect in life besides a peaceful week for crypto, $BTC are stably maintained at $85K level, alts are slowly coming back, regaining support since months of dumping. Let’s hope for a brighter future of crypto!
Let's move on to our main topic: the Weekly Fundraising update for Week 12. This week has been particularly interesting as we’re noticing an increase in projects raising funds through token sales, a trend that’s becoming more common recently.
Now, let’s take a closer look at some standout projects.
1. US-Based VCs invest over $400M in Toncoin
TON Foundation recently disclosed over $400M in $TON OTC sold to top VCs, including
Sequoia, Ribbit Capital, Benchmark, Kingsway, Vy Capital, Draper, Libertus Capital, Coinfund, Hypersphere, SkyBridge, and Karatage.
TON Blockchain a decentralized and open internet Layer 1 blockchain designed to onboard 500M people on-chain, built by the community using technology developed by Telegram. By March, Telegram had 1B monthly active users, while TON only had 41 M native accounts, indicating a huge space for development.
The CEO and Founder of Telegram, Pavel Durov has recently returned to Dubai after authorities allowed him to leave France, since August 2024 where he is under investigation over criminal activity on the messaging app.
2. Walrus Foundation secured $140M in a private token sale
Decentralized storage protocol Walrus raised $140M in a token round from Standard Crypto, a16z crypto, Electric Capital, Franklin Templeton.
Originally developed by Mysten Labs, Walrus is a decentralized storage platform built on Sui that allows any application to publish, read, and program large data files. Applications on Walrus can manage on-chain and off-chain data files, referred to as blobs, via Move-based smart contracts, ensuring that data is supported for the entire storage lifecycle.
Walrus Mainnet is set to launch on March 27. In addition, Walrus have unveiled their $WAL tokenomics before hands, with over 60% of all WAL tokens are allocated to the Walrus community through airdrops, subsidies, and the Community Reserve.
With this latest funding, Walrus is poised to accelerate the adoption of programmable storage, driving innovation across industries that rely on secure, efficient, and interactive data management.
3. Halliday raised $20M in a Series A funding round led by Andreessen Horowitz
Web3 payments and asset ownership solution Halliday raised $20M in a Series A funding round led by a16z crypto, with participation from SV Angel, Credibly Neutral, Blizzard, AltLayer.
This funding fuels the development of their Workflow Protocol, so developers never need to write a smart contract again. This protocol is crafted to provide a unified programming model that helps developers streamline workflows and simplify blockchain operations.
According to Halliday, its technology removes the need for developers to create and manage intricate smart contracts, cutting development time significantly—from years to just hours. They have launched early access to Workflow.
Another product from Halliday is Halliday Payments, this is currently used by over 35 clients, including Avalanche, Apecoin or Story Protocol. Halliday Payments acts as an end-to-end payments suite enabling transactions across layer 1, layer 2, allowing businesses to integrate digital asset payments, stablecoin subscriptions, and treasury management without writing smart contracts.
4. Crossmint raises $23.6M to bring every business and AI agent on-chain
All-in-one API platform Crossmint raised $24M in a Series A funding round led by Ribbit Capital, with participation from Franklin Templeton, Nyca Partners, First Round Capital, Lightspeed Faction.
Crossmint transforms the cumbersome process of building on-chain through a suite of low-code APIs—for wallets, stablecoins, onramps, tokenization, and credentials—that can be combined to create any use case.
For end users, it can help companies deliver an experience that mirrors the traditional web. Familiar features like FaceID and email sign-ups while eliminating gas fees and other friction points pave the way for mainstream adoption.
Crossmint’s vision is to bring every business and AI Agent on-chain. In the coming years, every business will move on-chain. As AI agents take over economic transactions, legacy systems can’t keep up. Crossmint’s APIs now empower agents to securely manage funds, trade, and purchase. The GOAT SDK, with 150K+ downloads in two months, connects AI agents to blockchain, marking a new era of innovation.
5. Privy raised $15M from Ribbit Capital & Paradigm
Crypto wallet infrastructure Privy raised $15M in a funding round led by Ribbit Capital, with participation from Sequoia Capital, Paradigm, Coinbase. This funding brings the total Privy has raised to over $40M.
Privy provides the user onboarding and embedded wallet infrastructure that developers need to build better, safer products on crypto rails. With one API, you can spin up wallets, sign transactions, and integrate any on-chain system so any user can safely buy, sell and hold tokenized assets in-app.
Since Oct 2023, they’ve grown from 1M onboarded accounts across 41 customers to 50M+ today across 800+ live products built on Privy, from Hyperliquid Farcaster, OpenSea, Blackbird, Pump.fun and much more.
Together with the new funding, Privy is expanding their team, they’re hiring across product, engineering, legal, and GTM to serve every developer looking to build great products on crypto rails, you can check out some open roles from Privy here.
Conclusion
There were a total of 27 funding rounds this week, with the total amount of $1.4B, if included the $711M post-equity round from Strategy to buy more BTC.
Some top tier VCs are very active this week: a16zcrypto (Walrus & Halliday), Ribbit Capital (TON & Crossmint), YZI Labs (Plume & O.Labs) and Dragonfly Capital (Hibachi, Yeet & Level). It’s good to see VCs actively pouring more capital to the crypto market, signaling confidence and innovation in the ecosystem..