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Last week, crypto fundraising hit an unprecedented high, raising a remarkable $3.5 billion over 28 funding rounds.
According to data from Cryptorank, weekly fundraising peaked from October 6 to Sunday, exceeding all previous records, including nearly $3 billion collected from July 28 to August 3. This surge followed seven weeks of fundraising below $1 billion, signaling a strong return of investor confidence.
Throughout the past six months, weekly fundraising has varied from $150 million to $2.9 billion, highlighting the fluctuating nature of venture capital in the crypto sector. October’s unexpected rise marks a significant breakthrough.
This substantial fundraising coincided with Bitcoin hitting a new all-time high of $126,000 on October 6, just before a significant liquidation event that sent the crypto markets tumbling on Friday.
Blockchain services lead weekly funding rounds
Data from Cryptorank indicates that blockchain services were at the forefront of last week’s fundraising. Of the 28 rounds documented from October 6 to Sunday, 12 were for blockchain service providers, making it the most active sector.
Following closely were centralized finance (CeFi) projects with six rounds, while the remainder was allocated to blockchain infrastructure, decentralized finance (DeFi), gaming, and social ventures. This showcases a widespread yet service-focused trend in crypto investments.
Pantera Capital emerged as the most active investor last week, engaging in four deals: two in blockchain services and two more in CeFi and social ventures.
Throughout the past year, Coinbase Ventures has continued to be the most active investor overall, with 73 investments across various sectors. Animoca Brands followed with 63 deals, whereas YZi Labs, linked to Binance, completed 38. Amber Group and Andreessen Horowitz’s crypto accelerator (a16z CSX) each wrapped up with 37.
Related: Centralized exchanges face accusations of massive liquidation understating
Record-breaking fundraising amidst BTC peak and market downturn
The latest record for weekly crypto fundraising occurred between Bitcoin (BTC) reaching a historic high and the market facing one of the gravest crashes in its history.
On October 6, BTC achieved its new all-time high of $126,000, according to CoinGecko.
This new BTC high was attributed to a shift in holdings from centralized exchanges to self-custody, institutional investments, and digital asset treasuries. However, the euphoria was short-lived.
On Friday, US President Donald Trump announced a 100% tariff on China, causing BTC prices to tumble below $110,000.
Bitcoin subsequently plummeted by $16,700, representing a 13.7% correction in less than eight hours. This sharp decline to $105,000 wiped out 13% of Bitcoin futures open interest.
The crash also triggered nearly $20 billion in liquidations, predominantly from the decentralized perpetuals exchange Hyperliquid.
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