$161m floods startups as prices sway

Venture capital appetite for crypto startups is showing signs of resilience despite broader market turbulence. This week, at least 15 firms across different slices of the ecosystem secured fresh funding.

According to Crypto Fundraising data, the last week of May ended with $161.1 million in crypto funding activity. Twenty One, a new Bitcoin treasury company, raised a massive $100 million; Conduit Pay landed $36 million to expand its crypto-native banking services; and Donut, a newcomer focused on wielding artificial intelligence, secured $7 million in a pre-seed round.

The flurry of deals highlights investor conviction in crypto’s long-term potential, even as asset prices wobble. The investment rounds ranged from pre-seed to Series A stages. Here’s a complete breakdown of this week’s crypto funding developments.

Twenty One, $100 million

• Raised $100 million in an Unknown round
• Twenty One is focused on improving Bitcoin (BTC) adoption

Conduit Pay, $36 million

• Conduit Pay secured $36 million in a Series A round
• The investment was backed by Dragonfly, Ribbit Capital, and Sound Ventures