December 2024 Crypto Funding Brief
Welcome to our Monthly Crypto Funding Brief. Each month, we bring you the latest activities in the fundraising landscape. This newsletter aims to keep you informed about key developments, significant fundraises, active investors, and upcoming token unlocks, helping you stay ahead in the dynamic world of investments.
In this edition:
Monthly Fundraising Highlights
In December 2024, 173 crypto companies collectively raised approximately $2.56 billion. Notably, mining companies Cleanspark ($650 million), Riot Platforms ($594.4 million), BTC Digital ($20 million), Argo Blockchain ($5.5 million), along with custodian Fold ($20 million) contributed a combined for $1.34 billion in post-IPO debt financing.?
Investors including Animoca Brands, Borderless Capital, Faction VC, Wintermute, and Hashed combined for 24 rounds funded with 9 rounds lead. Investments span across AI, decentralized social, DeFi, DePIN, gaming and the metaverse, media, mining, and wallet services, as highlighted in the Top 5 Most Active Investors chart below.
Note: The charts below do not include accelerator programs or post-IPO fundraising activities.
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Top 5 Largest Venture Funding Rounds
Top 5 Most Active Investors
Distribution of Fundraises by Company Category
In December, Artificial Intelligence led in the number of deals, with 20 companies collectively raising approximately $65.89 million. In contrast, four mining companies secured a total of $1.27 billion in funding.
Distribution of Fundraises by Stage
Token sales dominated fundraising in December, with 33 companies collectively raising approximately $277 million. Strategic fundraising accounted for the largest share, with $161 million raised.
M&A Activity
In December 2024, the crypto space saw 9 acquisitions spanning diverse sectors such as accelerator/incubator, blockchain services, business service providers, cross-chain protocols, exchanges, DeFi, gaming & metaverse, portfolio trackers, staking providers, and trading services.
Token Unlocks for December 2024 and January 2025
This chart highlights major token unlocks in December 2024 and January 2025. The largest individual and combined token unlocks were by SUI, with two unlocks totaling approximately $196 million on December 3, 2024, and January 3, 2025.
The size and color of the circles represent the USD value of each unlock.
This newsletter is for informational purposes only and is not investment or trading advice. You are fully responsible for any decisions you make; The TIE Inc. is not liable for any loss or damage caused by reliance on information provided. For investment advice, please consult a registered investment advisor.