Report: Crypto venture deals rise 40% in August

Funding raised by crypto firms through funding rounds in August rose by 39.8% from July. The data comes from the aggregator RootData.

In August, venture investors participated in 75 rounds, totaling $769.2 million. This contrasts with the same period last year — 132 rounds and $1.54 billion.

The chart below shows a downward trend in both indicators on a year-on-year basis and improved price momentum over the last two months.

According to RootData, the surge in funds raised in August was driven by rounds of centralized platforms — three companies raised $400 million, the highest in the last year.

The second place went to the infrastructure projects category ($79 million across 14 rounds), the third to DeFi ($47 million across 19 rounds).

One of August’s notable deals, alongside Ramp’s $300 million round, was the $100 million raise for cryptocurrency custodian BitGo at a $1.75 billion valuation.

Third place by amount raised went to investments in the blockchain platform ZetaChain ($27 million).

The top six included Binance Labs funding for the Helio Protocol project $10 million to expand the platform of liquid staking and the seed round for the ZTX metaverse project ($13 million).