Crypto startups raised $1.97B across 378 deals in Q2 2025—a 59% drop from the previous quarter. Total VC investment for the three months ending June hit $10.03B, signaling a slowdown as VCs prioritize predictable revenue and institutional adoption over hype.
VCs are tightening their filters — fewer deals, higher standards.
The $1.97B raised shows crypto funding is maturing, with capital flowing to startups that can prove traction and revenue, not just vision.
The 59% drop isn’t a collapse — it’s a correction.
Investors are shifting from speculative bets to sustainable business models tied to real-world adoption and institutional utility.