Venture Capital Investment in Cryptocurrency: Camp Network, Miden each receive $25 million funding
Last Week's Crypto Funding Spree Ahead of the Pack
The week of April 27 to May 3 witnessed a whopping $104.7 million in crypto investments across 15 projects, with infrastructure projects and privacy, AI, and DeFi solutions seeing the majority of attention. Let's dive into the weekly funding activity.
Camp Network Wins Big
Camp Network secured a $25 million Series A round, backed by 1kx, Blockchain Capital, and OKX Ventures, bringing its total funding to over $29 million. This infrastructure-focused project is on the rise.
Miden's Moment
Another $25 million Seed round was bagged by privacy-focused project Miden, with investors including a16z crypto, Hack VC, and 1kx. Miden aims to revolutionize privacy on public blockchains.
Thru Soaring High
Thru managed to gather $14.4 million in an unknown round, boasting a fully diluted valuation of $140 million. Its investment was backed by Framework and Electric Capital.
Dinari Shoots for the Stars
Dinari collected $12.7 million in a Series A round, with investors Hack VC, BlockChange, and VanEck insightfully supporting this project. Dinari's mission is to transform digital identification processes.
Terminal 3's Success Story
Terminal 3 walked away with an $8 million Seed round, backed by Illuminate Financial, Titan Fund, and IDG. This project focuses on trading infrastructure for a decentralized world.
Smaller Projects Making a Splash
- ZAR raised $7 million, Fleek secured $5 million, Gata managed $4 million, ROVR bagged $2.6 million, aZen Protocol came up with $1.2 million, MilkyWay gathered $300,000, and B2 Network pocketed an impressive $300,000 in funding rounds of their own.
Senator Lummis's Claims on Trump's Bitcoin Support
Meanwhile, Senator Cynthia Lummis declared President Trump as a potential supporter of her bill advocating for a 1-million Bitcoin strategic reserve, creating quite a stir in the crypto realm.
Remember, these investments and projects show the boundless potential of the crypto world. Keep your eyes on the crypto horizon, as the industry continues to evolve and grow!
Now, let's take a look at some remarkable trends and background details that played a crucial role this week:
During the week of April 27 to May 3, 2025, significant inflows into crypto investment products, strategic regulatory moves, and intriguing project developments took center stage:
Funding Inflows and Investment Focus
- Global cryptocurrency investment products attracted approximately $2 billion in new inflows, pushing the total assets under management (AUM) in crypto exchange-traded products (ETPs) worldwide to $156 billion, marking a 3.3% increase.
- Bitcoin was the clear star, garnering about $1.8 billion in inflows, although this represented a 43% decrease from the previous week's inflows. Bitcoin dominated inflows year-to-date, with a total of $5.6 billion accumulated by May 3.
- Although Bitcoin's price climbed from roughly $94,300 on April 28 to above $97,000 on May 2, inflows have slowed down, and bearish investor positions increased, with short Bitcoin ETPs seeing a 300% spike in inflows up to $6.4 million.
- Altcoins experienced more modest inflows: Ether (ETH) received $149 million, and XRP amassed $10 million in the week.
Notable Project and Market Developments
- 21Shares filed with Nasdaq to introduce the first U.S. spot Dogecoin (DOGE) ETF, planning to hold actual DOGE in custody via Coinbase. This pioneering move indicates a shift towards meme coin mainstream investing, with positive analyst predictions for approval within the year.
- BlackRock submitted plans with the SEC to tokenize its $150 billion Treasury Trust Fund by launching blockchain-based share classes called "DLT Shares." Even though these shares don’t incorporate cryptocurrency, blockchain technology will be employed for transparent ownership records, with BNY Mellon overseeing the blockchain ledger. This initiative echoes BlackRock's earlier $2.5 billion BUIDL fund and mimics tokenization efforts by JPMorgan and Fidelity.
- The crypto market embraced continual advancements in Bitcoin, decentralized finance (DeFi), and Web3, as frequent price changes and regulatory evolutions reshaped the landscape.
Regulatory and Security Developments
- While not within the exact week, it is essential to note that in early April and March, regulatory and security actions included the U.S. Department of Justice disrupting cryptocurrency financing linked to Hamas, seizing over $200,000 in cryptocurrency tied to illicit activity — this underlines the ongoing scrutiny law enforcement agencies exercise within the crypto realm.
- Additionally, Hong Kong's Securities and Futures Commission issued regulatory guidance for virtual asset trading platforms and funds involved in staking services to manage investor risks and liquidity, highlighting the maturation of crypto regulation worldwide.
- Last week saw a surge in crypto funding, with $104.7 million invested across 15 projects, with a focus on infrastructure, privacy, AI, and DeFi solutions.
- Camp Network, an infrastructure-focused project, secured a $25 million Series A round, bringing its total funding to over $29 million, while privacy-focused project Miden raised $25 million in a Seed round.
- Thru, a project aiming to transform digital identification processes, gathered $14.4 million in an unknown round, and Dinari, a project focusing on decentralized trading infrastructure, collected $12.7 million in a Series A round.
- The week also saw smaller projects like ZAR, Fleek, Gata, ROVR, aZen Protocol, MilkyWay, and B2 Network raise funding, totaling millions of dollars, showcasing the vibrant and diverse crypto industry.
- Amidst these developments, Senator Lummis announced Senator Trump as a potential supporter of her bill advocating for a 1-million Bitcoin strategic reserve, stirring interest in the crypto realm. Meanwhile, global cryptocurrency investment products attracted approximately $2 billion, with Bitcoin garnering $1.8 billion, and regulators worldwide began to take a closer look at the crypto market, with the U.S. Department of Justice disrupting cryptocurrency financing linked to Hamas and seizing over $200,000 in cryptocurrency tied to illicit activity.
