Weekly Funding Roundup | 9 Projects Secured Funding, Total Raised $105 Million (Feb 23 - Mar 1)
- Core View: From February 23 to March 1, 2025, global blockchain funding activities showed a normal retracement after the bi-weekly statistical peak following the Spring Festival holiday. Both the number of funding events and the total amount raised declined compared to the previous period, with Bitcoin mining, trading platforms, and the prediction market track garnering significant attention.
- Key Elements:
- This period disclosed a total of 9 funding events, raising $105 million. This represents a decrease in both count and amount compared to the previous week (14 events, $610 million), primarily because the previous period's statistics covered bi-weekly data post-Spring Festival.
- The single largest funding round was secured by Bitcoin mining company Canaan Inc., which raised $39.75 million to acquire a 49% stake in three mining facility projects in Texas from Cipher Mining, along with related mining machines.
- Cryptocurrency trading platform STS Digital completed a $30 million funding round led by CMT Digital. The funds will be used to expand its perpetual contracts business.
- Japanese onshore yen stablecoin issuer JPYC completed an approximately $12 million Series B funding round led by domestic companies. It is exploring application scenarios such as convenience store payments.
- Heat is emerging in the prediction market track. This period saw two related projects, TBD and Kash, secure $3 million and $2 million in funding respectively. The latter aims to build a prediction trading tool embedded within social media.
According to Odaily's incomplete statistics, from February 23 to March 1, 2025, a total of 9 financing events were disclosed in the global blockchain sector, slightly down from 14 in the previous week; the total financing amount was $105 million, significantly lower than the $610 million in the previous week. It should be noted that the previous period's data covered two weeks following the Spring Festival holiday, so the significant decline compared to the previous period is a normal phenomenon.
The project with the largest single financing amount this period was Bitcoin mining company Canaan Technology, which announced the completion of a $39.75 million financing round. The second largest was cryptocurrency trading platform STS Digital, which announced the completion of a $30 million financing round.
Furthermore, against the backdrop of the continued popularity of prediction markets, an increasing number of projects focused on the prediction market niche are emerging in the investment and financing field.
The specific financing events are as follows (Note: 1. Sorted by the announced amount; 2. * indicates "traditional" companies with partial business involving blockchain):
Canaan Technology Completes $39.75 Million Acquisition of Cipher Mining Project Equity Financing
On February 24, Canaan Technology announced the completion of a $39.75 million financing round. By issuing 806,439,900 Class A ordinary shares (approximately 53,762,660 ADS) to Cipher Mining, it acquired a 49% equity stake in Cipher Mining's three Bitcoin mining farm projects in West Texas (ABC Projects: Alborz LLC, Bear LLC, Chief Mountain LLC). The primary business of this project is operating Bitcoin mining farms with a total power capacity of 120 MW and a total hashrate of approximately 4.4 EH/s. The transaction also includes Canaan Technology repurchasing 6,840 mining machines from Cipher Mining, which were originally planned for deployment at the Black Pearl site currently being converted into an AI data center. Upon completion of the transaction, Cipher Mining became a significant shareholder of Canaan Technology, with its shares subject to a six-month lock-up period.
Cryptocurrency Trading Platform STS Digital Completes $30 Million Financing Round Led by CMT Digital
On February 26, cryptocurrency trading platform STS Digital announced the completion of a $30 million financing round led by CMT Digital, with participation from cryptocurrency exchange Kraken, venture capital firm Arrington Capital, and an investment institution under Fidelity Investments. STS Digital co-founder and CEO Maxime Seiler declined to disclose the company's valuation for this round. The new funds are intended to expand its cryptocurrency perpetual contracts (not options) business.
On February 28, Japanese Yen stablecoin issuer JPYC announced the completion of the first tranche of its Series B financing, raising approximately 1.78 billion yen (around $12 million). The round was led by Japanese IT solutions provider Asteria, with funds primarily from Japanese domestic companies and fund institutions. BitFlyer Holdings also participated in the investment.
JPYC officially launched in October 2025 under Japan's funds transfer business regulatory framework, positioning itself as an onshore Japanese Yen stablecoin. The company has partnered with Densan Systems, which covers a payment network of approximately 65,000 convenience stores in Japan, to explore applications in domestic payments, cross-border remittances, and travel payments within the convenience store scenario. Additionally, JPYC has participated in the stablecoin foreign exchange quotation system StableFX launched by Circle for cross-border settlements.
AurumX Ecosystem Infrastructure manadia Completes $7 Million Seed Round Financing
On March 1, Web3 verifiable data and AI collaboration infrastructure manadia officially announced the completion of a $7 million seed round financing. Investors include OKX Ventures, Pillar VC, One Way Ventures, Quasar Holding Co., and Polygon co-founder Sandeep Nailwal also participated in this round.
The project is jointly incubated and built by AurumX investment institution AUR Labs and leading global institutions. It focuses on low-trust-dependency data settlement and AI collaboration infrastructure, providing core capabilities such as the VERITAS verifiable oracle, AI Agent collaboration, privacy-preserving settlement, and compliant payments. It aims to provide secure, trustworthy value exchange and cross-system collaboration support for finance, digital assets, and AI ecosystems.
Bluprynt Completes $4.25 Million Seed Round Financing Led by Valor Capital Group
On February 26, Bluprynt, a startup providing cryptocurrency information disclosure services, announced the completion of a $4.25 million seed round financing led by Valor Capital Group, with participation from Selah Ventures, Quona Capital, as well as Coinbase Ventures and Robinhood. The company aims to optimize cryptocurrency company information disclosure to simplify digital asset compliance and meet regulatory requirements.
On February 25, AI-driven financial and cryptocurrency market research platform Finrob announced the completion of a $3.9 million seed round financing. Participants include Maven 11, Placeholder VC, Node Capital, Archetype, Dispersion Capital, and Fabric Ventures. The company provides real-time on-chain analysis and market intelligence through a single conversational interface by connecting platforms like Glassnode, CoinGecko, and DefiLlama.
On February 26, gaming blockchain infrastructure Power Protocol announced the completion of a $3 million financing round. Participants include Bitkraft, Delphi Digital, Spartan VC, and Mechanism Capital. The new funds will support its expansion into various types of gaming token economic models, rather than just building a single token tied to an individual game.
On February 25, Solana-based prediction market protocol TBD announced the completion of a $3 million seed round financing co-led by CMT Digital and ParaFi. Other participants include Jump Crypto, Slow Ventures General Partner Sam Lessin, Solana co-founder Raj Gokal, Polygon Labs CEO Mark Boiron, Wintermute founder Evgeny Gaevoy, and dYdX founder Antonio Juliano.
On February 25, social-native prediction market platform Kash announced the completion of a $2 million Pre-Seed round financing. Participants include Big Brain Holdings, Spartan Group, Coinbase Ventures, Kosmos Ventures, Halo Capital, MoonRock Capital, Polaris Fund, and Fabric VC. The new funds will support its development of financial tools embedded in social media platforms like X, enabling users to conduct prediction trades directly from their feeds and create prediction events. It has currently launched a simulated testnet on the X platform.
