Crypto VC Investment Rebounds in Q4 2025 With $8.5B Across 425 Deals

In Q4 2025, crypto and blockchain venture capital reached $8.5 billion across 425 deals, according to Galaxy Digital's research led by Alex Thorn. Later-stage startups attracted 56% of this capital, with 11 mega-rounds over $100 million accounting for $7.3 billion. US-based companies captured 55% of total funding, while crypto-focused VC funds raised $1.98 billion in the quarter.