According to a report by Outlier Ventures, Web 3 startups raised $9.6 billion in Q2 2025, the second-highest quarterly funding on record. Capital is rapidly converging on infrastructure projects, with median funding amounts ranging from $70 million to $112 million for projects such as validator liquidity, rollups, and hashrate networks. Meanwhile, Series A and seed funding rounds rebounded, with strong private token sales and a sharp decline in public offerings. (CoinDesk)