Highlights of This Issue
According to statistics from Tiger Research and RootData, capital inflow into the crypto market in the first half of 2026 reached $13.3 billion, with only 435 funding rounds, a 78% drop from the peak of 1,978 rounds in 2022. This indicates that market capital is accelerating its concentration towards a few large transactions.
Last week, primary market capital continued to concentrate on centralized finance, stablecoins, and trading infrastructure. Crypto.com received a $400 million investment from Citadel Securities, with its valuation rising to $20 billion, making it the largest crypto funding round of the week.
The AI and robotics sectors performed even more strongly. Fireworks raised $1.5 billion, while Walden Robotics and ZHUIJI Dynamics completed financings of $300 million and nearly $200 million respectively. Capital continues to bet on AI computing power, programming platforms, and the commercialization of embodied intelligence.
The crypto primary market heated up significantly last week. According to PANews' incomplete statistics, there were 17 investment and financing events in the global blockchain space last week (7.13-7.19), with total funding exceeding $812 million. Both the number of disclosed rounds and the total funding amount doubled. An overview is as follows:
- The DeFi sector announced 2 investment events, among which the crypto trading platform Quote Trade completed a $4 million financing.
- The Infrastructure & Tools sector announced 7 investment events, among which Miami-based payment infrastructure startup Cyclops completed a $20 million Series A financing.
- The Centralized Finance sector announced 5 investment events, among which Alpaca completed a $135 million financing led by Peak XV.
- The Web3+AI sector announced 1 investment event, with DGrid AI completing a $5 million seed round involving Waterdrip Capital and others.
- The Prediction Markets sector announced 1 investment event, with prediction market platform Pascal announcing the completion of a $9 million Series A financing led by Union Square Ventures (USV).
Crypto Funding
DeFi
Crypto Trading Platform Quote Trade Completes $4 Million Financing
Dubai-based AI-native decentralized exchange Quote Trade has completed a $4 million financing. The funds will be used to expand support for more blockchains and digital assets, strengthen liquidity partnerships, hire engineering and trading personnel, and continue building infrastructure designed to support the collaborative operation of AI autonomous trading agents and human traders.
Multicoin Capital Invests $1.75 Million in Hyperliquid Ecosystem Trading Platform Trasia
Asia-focused stock perpetual liquidity provider Trasia Labs announced it has raised $35 million, including a $1.75 million seed round led by Multicoin Capital. The funds will be used for the launch of web and mobile applications, user growth, and the initiation of the first HIP-3 markets focusing on Asian securities assets. The Trasia web trading interface is officially live, initially supporting Chinese and English, with the mobile app expected to be released this summer.
Trasia Labs is the development team behind Trasia, a Hyperliquid-built, Asia-first, non-custodial trading platform. The platform will initially offer HIP-3 native markets and plans to launch its own HIP-3 markets later this year, introducing cash-settled reference price contracts for Asian listed assets.
Infrastructure & Tools
ADI Chain Announces Completion of $50 Million Financing
ADI Chain has announced the completion of a $50 million financing. The project's main business is stablecoin settlement and financial infrastructure development, with ecosystem collaborations covering compliant stablecoins, tokenized securities, institutional payments, Chainlink, ZKsync, and mainstream crypto wallets.
Cyclops Completes $20 Million Series A to Advance Stablecoin Payment Settlement
Miami-based payment infrastructure startup Cyclops has completed a $20 million Series A financing, aiming to help payment companies use stablecoins to accelerate fund settlement. The company optimizes cross-border and traditional payment processes via stablecoins, improving settlement efficiency, reducing costs, and promoting the application of stablecoins in enterprise payments and financial infrastructure.
Pact Labs Completes $7 Million Series A Led by Tether
Tether announced leading a $7 million Series A investment in infrastructure provider Pact Labs, with participation from Blockchange Ventures and Lasagna. The funds will be used to expand the application of USA₮ in scenarios such as payroll, wage advances, credit, and daily payments. Tether plans to use Pact Labs to embed the U.S.-regulated digital dollar USA₮ into U.S. corporate payroll and payment systems, enabling real-time salary payments, integration into digital wallets, and bypassing the time delays of traditional batch processing.
Crypto Clearing Firm Glacis Labs Completes $6.8 Million Seed Round Led by Lightspeed Faction
Glacis Labs, the startup behind the crypto clearing platform ZeroDelta, has completed a $6.8 million seed round led by Lightspeed Faction, with participation from Franklin Templeton, Coinbase Ventures, A.GAIN, Protein Capital, and Techni Ventures. The financing structure is equity plus token warrants, with the valuation undisclosed.
Founded in January 2024, Glacis has developed the ZeroDelta multi-chain clearing platform, which reduces counterparty risk by matching, netting, and settling cross-chain digital asset transfers. ZeroDelta currently supports USDC, USDT, and USDe, with plans to expand into tokenized securities, RWA, and foreign exchange. Glacis generates revenue by charging fees on cleared transaction volume, having processed over $1 billion in volume with an annualized run rate of $1.5 billion. The team currently has 10 members and plans to expand engineering, compliance, and marketing teams.
AI-Powered Meme Infrastructure Project 2U2.ai Completes $3 Million Strategic Funding Led by Vega Venture
2U2.ai announced the completion of a new strategic funding round, with this round raising $3 million and valuing the project at $100 million. The round was led by Vega Venture, with participation from Archer Capital, UZ Capital, and Infinite Alliance. The funds will be used to further improve 2U2.ai's MemeLayer infrastructure, continue expanding ecosystem partnerships, and promote the large-scale application of AI Memes in content creation, community dissemination, and attention distribution scenarios.
2U2.ai is building an AI-driven MemeLayer for Web3, creating a Meme content network connecting creators, communities, and projects through Meme generation, remixing, distribution, and incentive mechanisms. Currently, the platform has launched the Meme Arms Race points system, where users can earn points by creating, sharing, and spreading Meme content, and participate in subsequent ecosystem incentives.
PayFi AI-Native L1 Project AXON Finance Completes $2 Million Strategic Funding
The PayFi AI-native Layer 1 project AXON Finance has completed $2 million in strategic funding from investors including InfiniteAll AI, UZ Capital, and BMF. This round of funding will be used to launch its first open ecosystem product—a U.S. stock copy-trading engine, supported by AXON's L1 settlement and account abstraction, and developed in collaboration with a prediction platform and a former Silicon Valley quantitative trading team.
L1 Blockchain ILITY Completes $1 Million Institutional Round with Participation from Archer Capital and TBV
L1 blockchain ILITY secured a $1 million investment from Archer Capital and TBV to accelerate its deployment in the Agent ecosystem. It is reported that ILITY's AI Agent economy ecosystem is about to launch, and this funding will primarily be used to deepen efforts in this emerging sector.
ILITY Network is an infrastructure for the AI agent economy, providing verifiable on-chain identities for autonomous AI agents, real-time machine-to-machine (M2M) payment settlement between agents, and a portable reputation system based on verifiable on-chain fulfillment records. Its native token $ILY serves as the gas and settlement currency for this ecosystem. Previously, the project received support from Animoca Brands, DuckDAO, UZ Capital, Vega Ventures, and other institutions in its previous funding round.
Centralized Finance
Crypto.com Receives $400 Million Investment from Citadel Securities, Valuation Hits $20 Billion
Crypto exchange Crypto.com announced it has received a $400 million strategic investment from Citadel Securities, valuing the company at $20 billion. This marks the company's first institutional funding round since its founding a decade ago. The funds will be used to accelerate Crypto.com's expansion into all asset classes, including tokenized securities and derivatives, and to promote the integration of digital assets with traditional markets.
Alpaca Completes $135 Million Financing Led by Peak XV
Developer-focused stock, options, and cryptocurrency API broker Alpaca announced the completion of a $135 million financing led by Peak XV, with follow-on investment from Elefund. Other new and existing investors include French banking group BNP Paribas' venture arm Opera Tech Ventures and Unbound. The new capital will be used to expand agent-first brokerage infrastructure for tokenized markets and AI-native financial services. Alpaca's total funding now reaches $435 million, including debt financing primarily from Payward, the parent company of global digital asset platform Kraken, and BMO.
Stablecoin-Based Cross-Border Banking Platform Flex Raises $70 Million Led by Halo Fund
California-based fintech company Flex raised $70 million in a Series B1 round led by Halo Fund, aiming to further expand its business. Flex Global is its stablecoin-based cross-border banking platform, offering multi-currency accounts covering 32 currencies across 170 countries. Flex's core clients have annual revenues between $3 million and $200 million, primarily concentrated in construction, wholesale, and import/export industries.
London Payments Company Velocity Completes $38 Million Series A Led by Crypto VC Dragonfly
London payments startup Velocity has completed a $38 million Series A financing led by crypto VC Dragonfly, with participation from Coinbase, Capital One Ventures, and market maker Wintermute. Founded in 2025, Velocity provides cross-border settlement and treasury management solutions based on stablecoins to global merchants, payment institutions, fintech companies, and financial institutions. Its main competitors are traditional banks and forex institutions. The company currently operates in the U.S., parts of Europe, and Australia. The new funds will be used to apply for relevant licenses in African and Latin American markets, strengthen asset custody infrastructure, and develop yield-generating stablecoin products to meet the more complex financial and cross-border settlement needs of large enterprises.
Tether Invests $20 Million in Argentine Digital Bank Ualá, Expanding Latin American Presence
Tether invested $20 million in Argentine digital bank Ualá as part of a $197 million funding round announced by Ualá in March. Ualá plans to use the funds to accelerate expansion in Argentina, Mexico, and Colombia. Ualá founder and CEO Pierpaolo Barbieri stated that due to regulatory environments in Argentina and Mexico, USDT stablecoin integration on the platform will not happen in the short term, and Tether is participating solely as a financial investor. Ualá has 11 million customers, with a post-money valuation of $3.2 billion from this round, and plans accelerated expansion in Mexico.
Prediction Markets
Prediction Market Platform Pascal Completes $9 Million Series A Led by Union Square Ventures
Prediction market platform Pascal announced the completion of a $9 million Series A financing led by Union Square Ventures (USV). This financing follows a $6 million seed round last August, with early investors including Wintermute Ventures and DBA. Pascal plans to build a next-generation prediction market platform for professional traders and institutional users, aiming to provide users with lower fees, higher liquidity, and more professional trading tools through a trading model closer to perpetual futures.
Crypto Treasury
ORANGE JUICE Completes $40 Million Financing to Establish Perpetual Capital Holding Company Backed by Bitcoin Reserves
ORANGE JUICE announced the completion of a $40 million financing to establish a perpetual capital holding company backed by Bitcoin reserves. The company was co-founded by ego death capital partner Jeff Booth, Lyn Alden, Nico Lechuga, and Andi Pitt, with Mexican Grupo Salinas founder Ricardo Salinas participating as an anchor investor.
ORANGE JUICE is not constrained by fund cycles or exit pressures, allowing it to focus on the long-term development of portfolio companies. It plans to seek a public listing in the future. The company will first acquire stable cash-generating businesses with annual cash flows between $1 million and $10 million. Acquired entities will retain their brand identity, and founders can choose to retire, remain in their roles, or transition gradually. Cash generated from operations will be reinvested in acquisitions or Bitcoin reserves.
AI + Web3
DGrid AI Completes $5 Million Seed Round with Participation from Waterdrip Capital and Others
Decentralized AI intelligence network DGrid AI released its latest data: cumulative revenue in the first half of 2026 exceeded $23 million, with over 15,000 paying subscribers.
DGrid simultaneously disclosed the completion of a $5 million seed round, with investors including Waterdrip Capital, IoTeX, Paramita VC, Zenith Capital, and other institutions. DGrid aggregates 200+ mainstream models like Claude, GPT, Gemini, and MiniMax through a unified AI Gateway. It ensures service quality and pricing transparency with its self-developed Proof of Quality (PoQ) mechanism, continuously building an open, verifiable decentralized AI infrastructure.
Acquisitions
Keyrock Completes Acquisition of BlockFills' Institutional Trading & Brokerage Business
Crypto infrastructure and capital markets company Keyrock has completed the acquisition of BlockFills' institutional trading and brokerage business. The transaction brings BlockFills' trading technology, institutional client relationships, and a team of experienced derivatives traders to Keyrock. The announcement stated that the acquisition also expands Keyrock's regulatory footprint, giving it a CIMA-registered entity in the Cayman Islands and plans to obtain FCA authorization in the UK.
Keyrock's announcement did not disclose the acquisition price. According to previous court documents and reports, Keyrock was selected in BlockFills' bankruptcy reorganization process for a price of $3.25 million. Chicago-based BlockFills filed for bankruptcy protection in early 2026 after suffering significant losses from the crypto market crash in February.
SBI Holdings Acquires Singapore Crypto Exchange Coinhako
Japanese financial group SBI Holdings has obtained the necessary approval from the Monetary Authority of Singapore (MAS) to complete the acquisition of Singapore-licensed cryptocurrency exchange and digital wallet Coinhako. Coinhako is regulated in Singapore and provides digital asset trading and custody services.
MoonPay Acquires Y Combinator-Backed Crypto Startup Glide
MoonPay has completed the acquisition of crypto deposit startup Glide, marking its sixth announced acquisition in 2026. The transaction is an all-equity deal, and Glide's four-person team will join MoonPay. Glide was founded in 2023 by Soni and Qinyu Tong, who previously worked together on Robinhood's crypto wallet development team. MoonPay stated that Glide received support from Y Combinator, Titan Fund, and other investors. The technology developed by Glide allows applications to accept cryptocurrency deposits without requiring users to manually bridge across blockchains or swap assets, thereby helping reduce friction during user onboarding.
AI & Robotics Funding Highlights
AI
Nvidia-Backed AI Cloud Service Fireworks Completes $1.5 Billion Financing, Valuation at $17.5 Billion
Nvidia-backed AI cloud service startup Fireworks completed a $1.5 billion financing round, reaching a valuation of $17.5 billion. This round was led by Atreides Management, Index Ventures, and TCV, with participation from Nvidia, Evantic, Lightspeed Venture Partners, and others. Fireworks primarily hosts and runs open-source AI models for developers. Its current annualized revenue exceeds $1 billion, five times that of the same period last year. Fireworks currently processes 40 trillion AI tokens daily and has begun offering GPUs for training AI models.
Indian AI Programming Platform Emergent Secures $130 Million Series C at $1.5 Billion Valuation
Indian AI programming startup Emergent completed a $130 million Series C financing, with a post-money valuation of approximately $1.5 billion, marking a roughly fivefold increase from its $300 million valuation in January this year. This round was led by private equity firm Creaegis, with participation from MNI Ventures-Claypond, Sentinel Global, as well as Khosla Ventures, SoftBank Vision Fund 2, Lightspeed, Y Combinator, and others. Total funding raised to date is $230 million. Emergent focuses on providing an "engineering team as a service" AI programming platform for SMEs and entrepreneurs. Its current annualized revenue is approximately $120 million, having grown about 70% in the past four months. It has over 200,000 paying users, with clients spanning logistics, manufacturing, construction, and property management industries.
AI Compliance Infrastructure Company Hadrius Completes $27 Million Financing Led by CRV, with Y Combinator and Others Participating
AI compliance infrastructure company Hadrius announced the completion of a $27 million seed and Series A financing, with the Series A led by CRV and participation from Y Combinator, Pathlight Ventures, and angel investors including the founders of Altruist and Jump AI. Founded by a team that previously operated an SEC-registered investment advisor, Hadrius provides an AI-driven, all-in-one compliance platform for regulated financial institutions, covering six core areas—personnel, transactions, marketing, communications, branches, and compliance manual implementation—through six agent modules.
a16z Invests in AI Agent Security Company Runta
a16z announced an investment in AI Agent security startup Runta. The specific investment amount has not been disclosed. The company aims to help businesses manage and constrain AI agents like "raising a child" and is currently developing an "AI agent guardianship" infrastructure to help companies manage AI Agent permissions, security risks, and behavioral boundaries, preventing autonomous AI systems from causing data leaks, erroneous operations, or financial losses during task execution.
Runta founder Guanlan Dai previously worked in Cloudflare's technical team and was a founding engineer at API connectivity startup Kong. He stated that AI agents share similarities with growing children: they possess the ability to perform tasks autonomously but also require boundaries, supervision, and permission management. Industry observers believe that as AI Agents evolve from simple assistants to autonomous entities capable of operating enterprise systems, processing transactions, and executing complex tasks, the infrastructure market surrounding Agent security, governance, and compliance may experience rapid growth.
Robotics
Toyota-Spinoff Humanoid Robot Startup Walden Robotics Completes $300 Million Seed Round
Walden Robotics, a humanoid robot startup spun out from Toyota's robotics research lab, completed an approximately $300 million seed round at an $11 billion valuation. This round was co-led by Deviation Capital and Toyota Motor Corporation, with participation from Toyota's strategic investment and early-stage venture arms, and investors including Nvidia, Boeing, AE Ventures, Samsung Ventures, and CoreWeave Ventures.
Headquartered in Cambridge, Massachusetts, Walden produces its own hardware, software, and AI models, focusing on deploying general-purpose robots in manufacturing and logistics facilities to handle tasks considered burdensome by workers. Co-founder Russ Tedrake revealed they have begun selling humanoid robots to clients across multiple industries, including pilot projects at Toyota factories in North America, where robots perform repetitive tasks like loading/unloading auto parts and cleaning equipment. Tedrake is a former Toyota Research Institute executive and teaches robotics at MIT.
Humanoid Robot Company ZHUIJI Dynamics Completes Nearly $200 Million Pre-IPO Financing
Shenzhen-based humanoid robot company ZHUIJI Dynamics completed nearly $200 million (approximately RMB 1.356 billion) in Pre-IPO financing, reaching a post-money valuation of RMB 15 billion, having raised a cumulative total of $400 million over the past six months. Investors in this round include IDG Capital, Apple supply chain company Lens Technology, Europe's GGG Group and Redstone VC, Huashan Capital, Hefei Binhu Industrial Development Group, and others. Additionally, UAE's Stone Venture Capital invested consecutively across multiple rounds. Existing shareholders such as Oasis Capital, Cornerstone Capital, Nanshan Strategic Emerging Industry Investment, Shangqi Capital, and NIO Capital increased their stakes. Overseas capital accounted for nearly 70% of this round. The company will increase investment in core technology R&D, advance the large-scale deployment of LimX Luna, and expand into overseas markets. It has completed the joint-stock reform and is steadily progressing towards an IPO.
Sam Altman-Backed Drone Company Brinc Raises $125 Million with Participation from Index Ventures and Others
OpenAI founder Sam Altman-backed drone company Brinc announced the completion of a $125 million financing round led by existing investor Motorola Solutions, with participation from Index Ventures and previous investors like Dylan Field. The company reportedly focuses on applying AI-based drone technology to public safety, including replacing some high-risk human response tasks.
