financing

According to financing data statistics from RootData, there were a total of 47 financing events disclosed in the crypto primary market in September, of which 34 disclosed amounts that can be accurately counted, with a total financing amount of approximately $1.114 billion. This represents an 85.0% increase compared to about $602 million in August, and a 9.0% increase compared to about $1.022 billion in September 2025; the number of financing events decreased by 4.1% compared to 49 in August, and decreased by 25.4% compared to 63 in the same period last year.From the perspective of sectors, infrastructure had the most financing events in September, with a total of 14 financings completed, disclosing an amount of approximately $263 million; both CeFi and DeFi completed 11 financings, disclosing amounts of approximately $394 million and $369 million, respectively. The three major sectors of CeFi, DeFi, and infrastructure accounted for about 92.0% of the disclosed financing amount this month.The three highest financing amounts in September were Polymarket ($300 million), Félix ($200 million), and Jeeves ($110 million), totaling $610 million, which accounted for about 54.8% of the total financing amount this month; Kraken also received a $100 million investment from Nasdaq. The financing amount this month showed a significant rebound, mainly driven by a few large financings, while the overall number of financing events in the market did not increase correspondingly.In September, a total of 8 RWA-related financing events were disclosed, of which 6 disclosed specific amounts, totaling approximately $52.75 million, accounting for about 17.0% and 4.7% of the number of financing events and total financing amount this month, respectively. Compared to 2 events and $14 million in August, the number of events increased by 300%, and the financing amount increased by approximately 276.8%. The top three projects by amount were OpenReserve ($25 million), Tare ($13.25 million), and CatchBack ($8 million), which together accounted for approximately 87.7% of the disclosed amount in the RWA sector.Additionally, 11 merger and acquisition events were disclosed in September, an increase of 57.1% compared to 7 in August, and a decrease of 42.1% compared to 19 in the same period last year. Among them, the tools and information services sector had a total of 4 events, making it the most active sector for mergers and acquisitions. Representative transactions include MoonPay acquiring North Capital, CoinMarketCap acquiring CoinGlass, Circle acquiring Tazapay, and S&P acquiring OpenZeppelin.In terms of investment institutions, Coinbase Ventures participated in 6 financings, making it the most active institution this month; a16z and Maven11 each participated in 3. Overall, in September, funds mainly flowed towards payments, prediction markets, trading and data infrastructure, CeFi, and RWA, among other directions.

Paul Atkins, the Chairman of the U.S. Securities and Exchange Commission (SEC), stated that although the CLARITY Act was not passed by Congress, the SEC will still clarify on-chain financing rules within its statutory authority. The U.S. Senate failed to advance the CLARITY Act on September 15 with a vote of 49 to 50, not reaching the required threshold of 60 votes. Atkins has not disclosed what form the relevant guidance will take, whether it will be an exemption, a registration path, or in the form of staff guidance.The SEC previously paved the way for tokenized stocks on September 17 and released nine frequently asked questions on September 25, explaining the impact of commitments by token issuers on the determination of securities. Commissioner Hester Peirce will leave office on October 2, at which point the SEC will only have Atkins and Mark Uyeda remaining as sitting commissioners.

Jeeves announced the completion of a $110 million equity financing. This round of financing was led by CoinFund, with participation from Andreessen Horowitz (a16z), Coinbase Ventures, AllianceBernstein, the Government of Singapore Investment Corporation (GIC), and Y Combinator.

According to Bloomberg, Strategy's Executive Chairman Michael Saylor is seeking to adjust the dividend mechanism for the company's preferred shares, proposing to change the dividend payment from bi-monthly or quarterly to daily for billions of dollars in preferred stock. The annualized yield on the related securities can reach up to 12%, and Saylor stated that this move would help improve liquidity and market efficiency.Previously, Strategy primarily raised funds by selling common stock to purchase Bitcoin, but as the premium of common stock relative to its Bitcoin assets disappeared, the company shifted to issuing perpetual preferred shares that do not dilute the equity of common stock shareholders. Such securities have no fixed repayment date and can provide a new source of financing for Strategy. The company currently has over $14 billion in preferred shares outstanding. Although the company has repurchased over $1 billion of floating-rate preferred shares STRC, it has still been unable to issue new STRC since May.Analysts pointed out that increasing the frequency of dividend payments mainly reduces dividend-related volatility, cannot eliminate credit and Bitcoin price risks, and may not necessarily enhance market liquidity. The shareholder vote on the proposal will conclude on October 28. Given that Saylor is the main shareholder of Strategy, the proposal is expected to pass.

Tesla has signed multiple financing arrangements, including a $20 billion three-year delayed draw term loan facility, an $8 billion five-year revolving credit facility, and a $2 billion 364-day revolving credit facility.Tesla has terminated the original revolving credit agreement, and the new agreement allows for the issuance of letters of credit up to $500 million, with the revolving credit facility potentially increasing to $14 billion.

According to CNBC, cryptocurrency trading company Raven has completed a new round of financing with a valuation of 90 million, with participation from Coinbase Ventures and CMCC Global.Raven co-founder Petar Kostov stated that Raven was established in 2023 to provide liquidity for cryptocurrency trading and has expanded into prediction markets since the second quarter of 2025.

According to Techcrunch, AI security startup Reco announced the completion of a new round of financing of $55 million, which is an extension round based on its $30 million Series B financing in February, with participation from AT&T Ventures, Forestay, and Quadrille Capital.After this round of financing, the company's total funding amount has reached $140 million. Reco co-founder and CEO Ofer Klein stated that since the initial announcement of the Series B round, the company's valuation has "more than doubled."

According to Fortune, AI real estate technology company EliseAI announced that it has completed a new round of financing of $350 million, with a valuation of $4 billion. Andreessen Horowitz (a16z) and Bessemer Venture Partners jointly led the investment, with existing investors Sapphire Ventures and Navitas Capital participating.This is the fourth time the company has received investment from a16z and Bessemer since 2023, just about 13 months after its previous round of $250 million Series E financing.It is reported that EliseAI's software currently mainly provides automated rental for homes, tenant services, maintenance requests, and lease renewals, covering about one-sixth of apartments across the United States. This new financing will be used for product development and to expand EliseAI's engineering, deployment, and sales teams in North America.

According to Businesswire, physical AI chip company SiMa.ai announced the completion of a $150 million Series C financing round, co-led by Fidelity Management & Research Company and Amplify, with participation from Alter Venture Partners, Dell Technologies Capital, Maverick Capital, Point72, StepStone Group, and others.The company has raised a total of $500 million, with a valuation rising to $1.45 billion. SiMa.ai stated that the funds will be used to scale its physical AI platform Palette Neat and to develop the next generation of dedicated physical AI chips, which are planned to be launched in the first half of 2028, with computing power reaching up to 1000 TOPS.

According to PR Newswire, Brazilian fintech company NG.CASH has completed a strategic financing of 15 million dollars, led by Blockchain Capital. Since its establishment in 2021, the company's total financing has exceeded 65 million dollars.It is reported that NG.CASH holds two licenses issued by the Central Bank of Brazil for direct credit companies and payment institutions, and is applying for a virtual asset service provider license. Since its establishment in 2021, NG.CASH has surpassed 10 million accounts, with platform transaction volume reaching several billion dollars.

According to official news, the cryptocurrency enterprise banking platform Limited announced the completion of a $18.5 million seed round financing, led by Third Prime, North Island Ventures (NIV), The House Fund, and Collab+Currency, with participation from ParaFi Capital, Pharsalus Capital, Digital Currency Group (DCG), 1982 Ventures, Onigiri Capital, and others.It is reported that Limited is a global financial platform aimed at multinational enterprises, integrating local business accounts, Visa cards, payment, treasury and expense management, and cryptocurrency infrastructure. Enterprises can make and receive payments through local channels such as ACH, SEPA, Pix, and SWIFT, and it also supports the receipt and payment of cryptocurrency assets such as BTC, ETH, and USDC.

Artificial intelligence company Instinct successfully raised $1 billion with a valuation of $10 billion.

According to TheEnergyMag, Bitcoin mining company Hut 8 announced that it has secured a $1.07 billion senior secured revolving credit facility, with a term of four years. The funds will be used to support the company's liquidity needs and energy and digital infrastructure projects.

Bitcoin mining company CleanSpark announced the completion of a $2.276 billion debt financing for its data center project located in Sandersville, Georgia, USA.The bond has an interest rate of 7.875%, and the raised funds will be used for project construction and to repay previously invested equity funds. The Sandersville project comes with a 20-year lease.

Market prediction protocol functionSPACE announced the completion of a $1.7 million Pre-Seed round of financing, aimed at building economic primitives for pricing numerical outcomes. This round of financing was led by Maven 11 Capital and Blockwall, with participation from Smape Capital.

According to Bloomberg, artificial intelligence infrastructure company Verda has completed a new round of financing of $189 million, led by Emergence Capital, with participation from MUFG Innovation Partners, computer manufacturer Super Micro Computer, Varma Mutual Pension Insurance, and Lifeline Ventures.It is reported that the company's valuation has reached at least $1 billion after the financing.

According to The Block, stablecoin infrastructure company HIFI has completed a $37 million Series A funding round, led by Left Lane Capital, with specific valuation yet to be disclosed.HIFI CEO Zach Walsh stated that this is the company's first priced funding round, and the platform currently processes an annualized transaction volume of approximately $7 billion. This round of funding will be used to expand stablecoin payment products and tokenized capital market infrastructure.HIFI currently supports the inflow and outflow of funds between the US dollar and stablecoins, facilitates payments through the US banking system and bank cards, and provides US dollar cash settlement services for tokenized repurchase agreements and US Treasury transactions. HIFI has also participated in the tokenized securities production trading tests of the US Depository Trust & Clearing Corporation (DTCC).

According to a report by Reuters, the artificial intelligence startup Island announced the completion of a $400 million Series F funding round, led by Evolution Equity Partners, with participation from existing investors Prysm Capital, Sequoia Capital, Coatue Management, Cyberstarts, Insight Partners, and JP Morgan Growth Equity Partners.The company's valuation has reached $6.4 billion, and the new funds will drive the company into the next phase of growth and innovation, helping businesses expand the application scale of AI agents and modernize work methods.

MeshWallet, a gas-free USDT wallet headquartered in Tallinn, Estonia, announced the completion of a $10 million private placement financing, led by several private investors and small family offices.MeshWallet operates on the TRON (TRC20) network, with the core function of eliminating the need for users to hold TRX to pay gas fees, with transfer fees settled directly in USDT, simplifying the dual-token operation process. This financing will be used to expand the product roadmap and build the user ecosystem.

According to a report by The Information cited by Dongcha, two individuals with direct knowledge stated that the artificial intelligence company DeepSeek has an annual revenue of approximately $1 billion, up from less than $500 million a few months ago. The revenue primarily comes from model APIs, and the free chat application currently has no advertising or subscription revenue.The report indicated that part of the revenue growth is due to price increases, with some API prices raised by about 2.3 to 4.5 times. Liang Wenfeng recently told investors that the number of customers did not decline after the price increase, and demand remains strong. Previously disclosed financial data showed that the gross margin for the API business in the first seven months of this year was 82.9%.DeepSeek's second round of financing plans to raise approximately 50 billion yuan, with a valuation of about 500 billion. The company hopes to complete this by the end of October and is also preparing for an IPO on the Shanghai Stock Exchange's Sci-Tech Innovation Board. Liang Wenfeng stated that over 70% of the computing power is used for training new models, leaving less than 30% for inference; the company is trying to run more small models directly on gaming graphics cards, reserving high-end chips for training.