Ah, the year 2025! A time when billions fluttered about like misbehaving butterflies in a garden of financial folly, with Naver Financial’s extravagant acquisition of Dunamu for the princely sum of $10.3 billion reigning supreme atop this bewildering heap of wealth.
- Crypto funding in 2025 was like a grand masquerade ball, led by massive M&A deals worth billions-the kind that would make even the most seasoned financiers swoon!
- Naver Financial’s $10.3B conquest of Dunamu was the crown jewel of the year, shining with a brilliance that could blind the most astute investor.
- Exchanges and trading platforms danced around like overzealous performers in the largest crypto transactions, twirling and leaping to dizzying heights.
M&A activity, dear readers, was the star of this circus, as exchanges, derivatives platforms, and infrastructure providers inflated their egos beyond comprehension with multi-billion dollar valuations. It was a spectacle worthy of a three-act play!
Now, let us dissect this week’s crypto funding activity-like a taxidermist preparing a fine specimen, if you will-according to the sacred scrolls of Cryptofundraising data:
Dunamu
- Dunamu acquired for $10.30 billion through M&A in November 2025, because why not?
- Acquired by none other than Naver Financial, a name that may as well be written in gold.
- The grandest crypto deal of 2025, a true tale for the ages!
DigitalBridge
- Acquired for a mere $4 billion through M&A in December 2025. Chump change, right?
- Acquired by SoftBank, who probably thought, “Why not?”
Deribit
- Deribit was snatched up for $2.90 billion in May 2025, because who doesn’t love a good gamble?
- Acquired by Coinbase, because they needed another trophy for the shelf.
Binance
- Raised an astonishing $2 billion in an unknown round in March 2025, further proving that mysteries are better left unsolved.
- Investment backed by MSX, who presumably just threw in some cash for fun!
Polymarket
- Also raised $2 billion in October 2025, fully diluted valuation of $9 billion-whatever that means!
- Backed by ICE, which sounds very cool, indeed!
NinjaTrader
- Acquired for $1.50 billion through M&A in March 2025, so it seems someone really wanted to befriend ninjas!
- NinjaTrader found a new home with Kraken, an odd pairing if ever there was one.
Hidden Road
- Hidden Road was acquired for $1.25 billion through M&A in April 2025, because what’s life without a little mystery?
- Acquired by Ripple, who must have been feeling particularly adventurous.
Circle
- Raised $1.10 billion through IPO in June 2025, probably while doing somersaults for joy!
Bullish
- Raised $1.10 billion through public sale in August 2025, fully diluted valuation of $5.41 billion-almost enough to buy a small island!
Kalshi
- Raised $1 billion in an unknown round in November 2025, fully diluted valuation of $11 billion, proving that sometimes, ignorance is bliss!
- Backed by Sequoia, CapitalG, and AI6Z, which sounds like the name of a superhero team.
Funding under $1 billion
- Mara Holdings, $950 million in an unknown round (July 2025), probably just for kicks!
- Figure, $787.50 million through IPO (September 2025)-a precise figure indeed!
- Verb Technology (TON Strategy Co.), $558 million in an unknown round (August 2025), leaving us all perplexed!
- PumpFun, $500 million in a public sale with $4 billion FDV (July 2025)-who doesn’t love a good pump?
- Rapyd, $500 million in a Series F round (September 2025), which means they’ve got letters covered!
- Tempo, $500 million in a Series A round with $5 billion FDV (October 2025), because why not start with a bang?
- Ripple Labs (XRP), $500 million in a strategic round with $40 billion FDV (November 2025), proving that everything comes with a price!
- Kraken, $500 million in an unknown round (September 2025)-mysterious, yet strangely alluring!
- IREN (ex Iris Energy), $450 million in a private round (June 2025)-a name that sounds like it should be whispered!
- Mili City Ventures III, $450 million in an unknown round (August 2025), a venture into the unknown, perhaps?
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2026-01-03 18:55