Last week, there were a total of 8 public financing events in the cryptocurrency market, with a cumulative financing of approximately 27.3 million USD | Investment and Financing Weekly Report
Binance Labs announced an investment in THENA; sources say FalconX is in talks to acquire crypto derivatives startup Arbelos; Bitcoin technology company JAN3 completed a $5 million seed round financing, led by Fulgur Ventures.Organizer: Luan Peng, RootData
According to incomplete statistics from RootData, during the period from December 30, 2024, to January 5, 2025, there were a total of 8 public financing events in the blockchain and cryptocurrency industry, with a total financing amount of approximately $27.3 million.
From the perspective of track distribution, the projects that received financing are mainly distributed in the infrastructure and DeFi tracks. Popular projects include the Layer2 network DataDance, the Sui ecosystem liquid staking protocol Haedal Protocol, the blockchain data startup Accountable, and the Bitcoin technology company JAN3.
In addition, the Bitcoin financial services company Fold announced that it has completed a $20 million convertible bond financing provided by ATW Partners, and both parties have reached an agreement to potentially provide an additional $10 million in financing after merging with FTAC Emerald.
*（List of projects with financing greater than $5 million last week, data source: * Rootdata）
1. Infrastructure
DataDance Completes Multi-Million Dollar Seed Round Financing, Led by Hash Global
The Layer2 network DataDance, dedicated to innovation in the consumer data asset field, has completed a multi-million dollar seed round financing, led by Hash Global. The completion of this round of financing marks the beginning of DataDance's efforts to build the world's largest decentralized data asset service and trading platform in Web3, co-creating a Web3 business ecosystem with Hash Global.
Hash Global stated that the DataDance team previously founded the largest digital asset trading platform, Unique Art, and has a deep understanding of the RTB (programmatic advertising) and digital asset industries. They are optimistic about DataDance's ability to connect a vast number of brands using blockchain, helping them to assetize consumer data and achieve decentralized trading of global consumer data assets.
DataDance CEO Geoffrey Tong stated that the trading of data assets is currently highly monopolized by internet giants, resulting in high traffic costs worldwide. DataDance has the capability to change this industrial structure, allowing data asset trading to evolve from centralized monopolies to a parallel system of centralization and decentralization, injecting new momentum into Web3 business innovation.
2. DeFi
According to official news, the Sui ecosystem liquid staking protocol Haedal Protocol announced the completion of its seed round financing, with specific amounts undisclosed. Investors participating in this round of financing include Hashed, Comma3 Ventures, OKX Ventures, Animoca Ventures, Sui Foundation, Flow Traders, Dewhales Capital, Cetus, Scallop, and others. Haedal will utilize this financing and new resources to support the further development of its liquid staking infrastructure and on-chain yield products focused on the Sui ecosystem.
According to the Web3 asset data platform RootData, Haedal is a liquid staking protocol based on Sui that allows anyone to stake their Sui tokens to facilitate governance and decentralization of the Sui blockchain. Meanwhile, users will receive haSUI as a reward, allowing them to continue participating in DeFi activities for additional earnings.
Binance Labs Announces Investment in THENA
Binance Labs announced an investment in THENA, a decentralized exchange (DEX) and liquidity protocol based on the BNB Chain.
The funds will be used to accelerate the development and expansion of the THENA platform, enhance security measures, increase user acquisition efforts, strengthen partnerships and collaborations within the BNB Chain ecosystem, and drive DeFi innovation.
3. Data & Analysis
According to The Block, blockchain data startup Accountable recently completed a $2.3 million seed round financing. This financing was co-led by MitonC and Zee Prime Capital, with angel investors such as Darius Rugys from Maven 11 and DCBuilder from the Worldcoin Foundation participating.
The company is developing a privacy-centric data platform that verifies borrowers' assets, liabilities, and transaction risk exposures in real-time. Users can connect accounts such as custodians and exchanges to a dashboard to generate credit risk reports for lenders to review. Accountable plans to seek further financing in 2025.
4. Others
Bitcoin Technology Company JAN3 Completes $5 Million Seed Round Financing, Led by Fulgur Ventures
According to official news, Bitcoin technology company JAN3 announced that it has completed a $5 million seed round financing, led by Fulgur Ventures, with participation from Grupo Salinas, Tether, Lightning Ventures, East Ventures, Plan B Fund, Bitcoin Opportunity Fund, and NYDIG. As part of the current seed financing, JAN will allocate $1 million to establish a Bitcoin treasury, which includes 12 BTC, with an average cost of $83,333.33 per BTC.
According to the Web3 asset data platform RootData, JAN3 is a Bitcoin technology company founded by former Blockstream Chief Strategy Officer Samson Mow, aimed at accelerating Bitcoin adoption. JAN3 has taken over Blockstream's crypto wallet AQUA, Bitcoin and Liquid mobile wallets, and the NFT marketplace Raretoshi. The company has signed a memorandum of understanding with the Salvadoran government to provide digital infrastructure for the country and Bitcoin City.
Insider: FalconX in Talks to Acquire Crypto Derivatives Startup Arbelos
According to Bloomberg, digital asset trading and brokerage firm FalconX is in advanced talks to acquire Arbelos Markets, a derivatives startup founded by two veterans of the crypto industry in 2023.
Insiders revealed that the deal will be financed through a combination of cash and FalconX stock, and is expected to be announced in the coming days. It is currently unclear how this deal will impact Arbelos's valuation.
Bitcoin financial services company Fold announced that it has completed a $20 million convertible bond financing provided by ATW Partners, and both parties have reached an agreement to potentially provide an additional $10 million in financing after merging with FTAC Emerald.
This financing is secured by the company's assets (including a portion of Bitcoin), and the bonds will mature three years after Fold becomes a public company, converting into common stock of the merged company at a fixed conversion price of $11.50 per share.
Fold stated that the initial $20 million will be used to support growth plans and accelerate product development, while the remaining $10 million financing will provide more capital flexibility after completing the business merger with FTAC Emerald.
