Well, that was a surprisingly strong week. After a few months of what felt like a real slowdown, crypto venture funding just came roaring back. From the end of August into the first week of September, a total of thirteen different projects managed to pull in just over $709 million. That’s a huge number, and it definitely bucks the recent trend.
A single, massive deal really skewed the figures, to be honest. But even if you set that one aside, the activity was still pretty remarkable.
The Big One: AlloyX’s Landmark Deal
The week was absolutely dominated by AlloyX Limited. They announced a merger deal worth a staggering $350 million. From what I can gather, they’re focused on payment infrastructure and stablecoins. Their post on X mentioned a “milestone merger” with another firm, Solowin, aiming to push compliant stablecoin infrastructure and something called “RWA tokenization” in Asia. It’s a huge bet on a very specific part of the market.
Where’s The Money Flowing?
It wasn’t just that one deal, though. The rest of the funding seemed to cluster around a couple of key areas. Infrastructure was a big one. Utila, a non-custodial wallet platform, added another $22 million to its Series A, bringing the total for that round to over $51 million. They seem to be on a real growth tear.
And then there’s AI. That might be the real story here. It feels like every other project had an AI angle. Kite AI, which is building a new blockchain, raised $18 million. Aria Protocol gathered $15 million in a seed round. And Everlyn, which is working on on-chain video, also secured $15 million, claiming a pretty hefty valuation of a quarter-billion dollars. Investors clearly see something there, even if it’s not entirely clear what that is yet.
The Supporting Cast
Beyond those headline acts, a whole host of other ventures found backing. There was Etherealize, an institutional firm, pulling in $40 million from some big names. Then a string of others—RISC Zero, Tangany, Plural—all raising amounts in the millions. It paints a picture of broad, if cautious, investment across the board. It’s not just a few giants; smaller, perhaps more speculative, projects are getting a look too.
So, what does it all mean? Perhaps it’s a sign of renewed confidence. Or maybe it’s just that a few deals that were in the pipeline finally closed all at once. It’s hard to say for sure. But for one week, at least, the money was flowing again.
