Web3 Fundraising: 6th – 12th October 2025

Prediction market platform Polymarket secured the largest investment of the week with a staggering $2 billion corporate round led by the Intercontinental Exchange, parent company of the New York Stock Exchange. The deal, announced on October 7th, underscores a deepening interest in DeFi and data markets.

Australian Bitcoin mining firm IREN followed closely with $875 million in post-IPO debt funding, also disclosed on October 7th. The lead investor remains undisclosed. The funding will reportedly be used to expand its mining capacity and energy infrastructure.

Digital asset merchant bank Galaxy Digital, based in the United States, raised $460 million through post-IPO equity financing. While the lead investor was not named, the funding, completed on October 10th, reflects ongoing institutional interest in established crypto finance players.

In Bermuda, new financial services firm Meanwhile closed an $82 million venture round led by Bain Capital Crypto and Haun Ventures. The company is rumored to be building next-generation crypto banking solutions.

Several startups also made headlines with early-stage funding rounds. TransCrypts (U.S.) raised $15 million in a seed round led by Pantera Capital on October 8th. BaseVol (U.S.), a crypto options data provider, secured $3 million from Neoclassic Capital, also on October 8th. CrunchDAO (France) brought in $5 million on October 7, led by Galaxy Ventures and Road Capital.

Mid-stage companies continued to attract significant backing. Coinflow Labs (U.S.) closed a $25 million Series A round led by Pantera Capital on October 7th, aimed at streamlining crypto payment flows. Block Street, another U.S.-based firm, raised $11.5 million in a venture round backed by Generative Ventures and Hack VC on October 8th.

Other notable deals include Applied Digital (U.S.), a post-IPO digital infrastructure company, which raised $112.5 million in equity financing led by Macquarie Asset Management, and SmartMedia Technologies, focusing on Web3 engagement tools, which brought in $2 million from undisclosed investors.

Notably, Pantera Capital participated in two rounds this week, reaffirming its aggressive stance in early- and growth-stage investments. Galaxy Ventures also remained active, backing both large and small-scale initiatives globally.