The second week of March was a significant week in the world of cryptocurrency, with Binance successfully concluding a $2 billion financing round.
The total funding for that week surpassed $2.5 billion, highlighting significant investments in DeFi infrastructure as well as multi-chain solutions.
Let’s delve into the notable investments that took place in the venture capital sector over the past week, based on recent data.
Binance, $2 billion
- Binance secured $2 billion from MGX, a company based in Abu Dhabi, marking a historic first institutional investment for Binance.
- This funding was entirely executed in unspecified stablecoins, which affords MGX a minority ownership stake in Binance and represents the firm’s entry into the cryptocurrency and blockchain arena.
- MGX, recognized for its focus on artificial intelligence and cutting-edge technology, stated that this investment is consistent with its strategy to foster blockchain innovation and financial advancement.
World Liberty Financial, $550 million
- World Liberty Financial completed its token sale, raising $550 million and bringing its total funding close to $600 million.
- This decentralized finance initiative, linked to the Trump family, achieved this milestone by selling its WLFI tokens, as indicated by funding data.
- Recently, it was reported that World Liberty Financial had sold over 24 billion tokens, leaving around 950 million tokens still available for buyers.
Mesh, $82 million
- Mesh raised $82 million in Series B financing.
- The project has backing from Paradigm, Consensys, and Quantumlight.
- Previously known as Front Finance, the initiative has raised a total of $120.5 million thus far.
RedotPay, $40 million
- RedotPay secured $40 million in Series A funding.
- This investment received support from Lightspeed, Galaxy, and HongShan.
- RedotPay is focused on developing innovative payment and wallet solutions.
Axelar Network, $30 million
- Axelar Network raised $30 million in an undisclosed funding round.
- The investment was supported by Arrington Capital and Electric Capital.
- To date, Axelar Network has raised a total of $143.75 million.
Solv Protocol, $10 million
- Solv Protocol garnered $10 million in an undisclosed round.
- This project aims to construct a marketplace spanning multiple blockchain ecosystems.
- So far, Solv Protocol has raised $32 million.
Voltix AI, $10 million
- Voltix AI raised $10 million in an undisclosed round.
- The investment was provided by BLCK Labs.
- Voltix AI is focused on creating AI infrastructure on the Solana blockchain.
Other notable crypto VC funding rounds
- PoPP raised $6 million for AI identity solutions.
- Aura secured $5.50 million in seed funding for its AI marketplace.
- Captain Tsubasa: Rivals raised $5 million for play-to-earn gaming on the TON blockchain.
- HOPR Token secured $4.80 million for privacy-enhancing infrastructure.
- Templar Protocol raised $4 million for decentralized finance lending.
- Arda Labs garnered $3 million for real-world asset infrastructure.
- M10, Obol Labs, and Rakurai each received $3 million.
- Sogni ai raised $2 million for AI-generated art on DePIN.
- W3I Software secured $1.50 million for Cardano-based stablecoins.
- Offline Protocol raised $1.10 million for payment solutions.
- Bubblemaps gathered $800,000 with a $20 million fully diluted valuation for analytics.
- Lagom Chain secured $200,000 with a $4 million fully diluted valuation for layer 1 interoperability.