This Issue's Highlights
According to incomplete statistics from PANews, there were 17 blockchain-related funding and investment events globally last week (April 27–May 3), with a total funding volume exceeding $176 million, as summarized below:
The DeFi sector announced four investment and financing events, including the completion of an $18 million Series A round by the crypto derivatives trading platform Liquid, led by Neo and Left Lane Capital.
Two investment and financing events in AI and Web3 have been announced: the decentralized AI computing Layer 1 network, Kaisar Network, has announced it has raised a total of $4 million to date;
The infrastructure and tools sector announced five investment and financing events, including Squads, a multisig protocol in the Solana ecosystem, which completed an $18 million equity round led by Solana Ventures.
In the centralized finance sector, two investment and financing events were announced: the crypto exchange service company Fun completed a $72 million Series A round led by Multicoin Capital and SignalFire.
The prediction market sector announced one funding event: the prediction market platform XO Market completed a $6 million seed round.
Three other Web3 application sectors announced funding rounds, with the collectible card game platform Chance Studios securing $3.2 million in funding.
DeFi
Cryptocurrency derivatives trading platform Liquid has completed an $18 million Series A round led by Neo and Left Lane Capital.
The crypto derivatives trading platform Liquid has completed an $18 million Series A round led by Neo and Left Lane Capital, with participation from Haun Ventures, K5 Global, SV Angel, AntiFund, and Sunflower Capital. Founded by former Two Sigma quantitative researcher Franklyn Wang, Liquid initially positioned itself as a crypto perpetuals aggregation platform and has since expanded to include secondary markets for equities, cryptocurrencies, forex, Polymarket positions, and pre-IPO company shares, offering up to 200x leverage in certain jurisdictions. As platforms like Coinbase and Robinhood extend into non-crypto assets, Liquid aims to create a unified interface for a universal leveraged exchange that meets retail trading demand across a broad range of risk assets.
RWA yield platform Nuva Digital completes a $5.2 million seed round led by Morgan Creek Digital.
RWA yield platform Nuva Digital has completed a $52 million seed round led by Morgan Creek Digital, with participation from Ulu Ventures and others, to build its RWA yield platform, Nuva Finance. Nuva was incubated by Animoca Brands and Nuva Labs and positions itself as a self-custodial RWA marketplace connecting asset issuers with users. Users deposit USDC to receive nvAsset tokens representing their share, with yields reflected in token price appreciation. The initial offerings will include nuYLDS and nuHELOCs, based on on-chain assets from Figure Technologies, corresponding to YLDS, an SEC-registered yield-bearing stablecoin, and HELOCs, home equity loan assets with over $16 billion in outstanding loans. Nuva also plans to issue a utility token, NUVA, though the exact launch date for the platform and tokens has not been disclosed.
Solana yield platform Exponent raises $5 million in seed funding led by Multicoin Capital
Solana yield platform Exponent has raised a $5 million seed round led by Multicoin Capital, with participation from Solana Ventures, RockawayX, L1D, Prelude, Theia Blockchain, and Solana Labs CEO Anatoly Yakovenko. The round was structured as a SAFE with token warrants, and the valuation was not disclosed. Exponent plans to launch its upgraded platform next month, expanding from a single-rate trading model to a comprehensive yield infrastructure featuring an on-chain interest rate order book and strategy vaults that enable users to convert variable yields into fixed or leveraged positions, while asset managers can issue fixed-rate revolving products, hedging strategies, and more. Since its launch at the end of 2024, the platform has processed over $2 billion in yield transactions and served more than 35,000 users. Approximately $1 million of the new funding will be allocated to security initiatives, including audits and bug bounties.
On-chain trading competition platform Legend Trade has completed a $3.5 million seed round led by Electric Capital.
On-chain trading competition platform Legend Trade has announced the completion of a $3.5 million seed round led by Electric Capital, with participation from Amber Group and GSR Markets LTD. Total funding to date has exceeded $5 million. Legend Trade is a "trader-vs-trader" on-chain derivatives platform where users compete against each other through perpetual contracts, with winners determined by price movements and trading performance. During its three-week public test, the platform achieved trading volume exceeding $80 million. The project plans to launch Season 0 next week.
AI
The decentralized AI computing Layer 1 network, Kaisar Network, has successfully raised a total of $4 million.
The decentralized AI computing Layer 1 network, Kaisar Network, has announced it has raised $4 million to date, including $1 million in a strategic Pre-Seed round. Kaisar Network was incubated by Outlier Ventures and Borderless Capital, with investors including Merov Capital, StoneBlock, WM Capital, Arche Fund, Q42, and Unicorn Ventures. Kaisar has announced the launch of Token AI, enabling users to access decentralized GPU computing, AI credits, and agent services.
Voran secures $3 million in seed funding, with participation from IBC Group and others.
The decentralized computing platform project Voran has announced the completion of a $3 million seed funding round. Investors include IBC Group, Mario Nawfal, CGVFOF, 0xALLINCLUB, Harbor Digital VC, and several early Web3 participants. The project team stated that the funds will primarily be used to accelerate platform development, expand infrastructure, and advance the deployment of scalable decentralized computing power.
Infrastructure & Tools
Fence completes a $20 million funding round led by Galaxy Digital.
Asset-side financial infrastructure startup Fence has raised $20 million in funding, led by Galaxy Digital, with participation from Parafi Capital and Crane Ventures, aiming to transform the back-office processes of the $6 trillion asset-backed financing market. Fence automates loan pool tracking, collateral verification, and fund transfers using blockchain, smart contracts, and asset tokenization—without emphasizing a “blockchain company” identity—replacing traditional paper-based workflows involving spreadsheets, PDFs, and emails. The company has already integrated with institutions including BBVA, BlackRock, and Fortress, managing approximately $1.5 billion in assets on its platform, and plans to use this round of funding to expand in the U.S. market and further enhance its product.
Solana ecosystem multisig protocol Squads completes $18 million equity financing led by Solana Ventures.
The Solana ecosystem’s multi-signature protocol project, Squads, has completed an $18 million equity financing round led by Solana Ventures, with participation from Coinbase Ventures, Haun Ventures, L1D, and others, bringing its total funding to $42.9 million. Squads will use the funds to expand its stablecoin settlement platform, Altitude, which enables enterprises to manage funds and payments using stablecoins instead of traditional bank accounts. Since its public beta launch in December, Altitude has processed over $200 million in payments for exporters, cross-border teams, and others, with funds held in self-custodied wallets as stablecoins. Squads states that the platform includes built-in compliance features such as sanctions screening, AML, transaction monitoring, and enterprise KYC, and integrates with payment providers like Bridge and MoonPay to support global operations.
Stablecoin financial services platform UnblockPay has completed a $4.5 million seed round led by Prelude.
Stablecoin financial services platform UnblockPay has announced the completion of a $4.5 million seed round led by Prelude, with participation from multiple renowned institutions and angel investors including Plug and Play, Wintermute, and Signature Ventures. The funds raised in this round will be primarily used to develop compliant financial products, helping businesses integrate stablecoin systems into their daily financial operations, establish standardized cross-border settlement solutions, and enhance seamless two-way conversion capabilities between fiat currencies and major stablecoins such as USDT and USDC, further expanding the ecosystem of compliant stablecoin enterprise services.
Four Pillars has secured a Series A round of funding from Pantera Capital and Further Ventures.
Four Pillars has announced it has secured a Series A funding round from Pantera Capital and Further Ventures, with the specific amount undisclosed. The company will transition from a research institute to a blockchain research and infrastructure provider serving institutional clients. Over its three-year history, Four Pillars has collaborated with more than 100 protocols and companies and published over 600 research reports. Moving forward, it will focus on three key initiatives: FP Research (divided into five specialized divisions—Crypto, Investing, Institutional, Asia, and Technology), FP Validated (institutional-grade validator infrastructure offering staking services), and FP Institution (a newly established institutional division providing workshops and consulting services).
Jack Ma holds shares in Yunfeng Financial, which strategically invested in the cross-border payment service provider WooshPay.
Yunfeng Financial, backed by Jack Ma, has officially completed a strategic investment in the cross-border payment service provider WooshPay, though the specific investment amount has not been disclosed. WooshPay holds dual regulatory licenses from the UK FCA and Hong Kong Customs, positioning it as a compliant financial infrastructure platform. Following this investment, Yunfeng Financial will integrate its digital asset infrastructure, AlphaToken, to build an AI + Web3 model and establish a comprehensive ecosystem for asset tokenization and compliant settlement. Yunfeng Financial has already obtained a virtual asset trading license from the Hong Kong Securities and Futures Commission, enabling it to legally offer trading services for major digital assets such as Bitcoin and Ethereum.
Centralized Finance
Cryptocurrency exchange service company Fun has completed a $72 million Series A round led by Multicoin Capital and SignalFire.
Crypto exchange startup Fun has announced the completion of a $72 million Series A round led by Multicoin Capital and technology venture firm SignalFire, with participation from Infinity Ventures, Pharsalus Capital, and Tinder co-founder Justin Mateen. The funding round closed in January of this year but was only recently made public; Fun declined to disclose the company’s valuation.
Fun focuses on providing the infrastructure for cryptocurrency and fiat currency (such as USD) deposits and withdrawals on the platform, enabling users to move funds in and out without relying on exchanges or banks. Its clients include the prediction market platform Polymarket, the crypto derivatives platform Lighter, and the lending protocol Aave. The company currently processes over $18 billion in annual payment volume. Alex Fine, Fun’s founder and CEO, stated that as more fintech companies and neobanks adopt tokens and stablecoins, Fun aims to become “the gateway to the new economy.”
Tether led a $14 million Series A investment in Belo to expand stablecoin payments in Latin America.
Tether led the $14 million Series A funding round for Latin American digital wallet platform Belo, with additional participation from Titan Fund, The Venture City, Mindset Ventures, and G2. Belo plans to use the new funds to expand into markets including Mexico, Chile, Colombia, Peru, Bolivia, and Paraguay, while further strengthening its presence in Brazil, with a focus on serving freelancers, remote workers, and users engaged in cross-border fund transfers.
Belo, founded in 2021 and headquartered in Buenos Aires, Argentina, currently serves over 3 million users across Latin America. Its product is a digital wallet built on cryptocurrency infrastructure, enabling users to hold, send, and receive local currencies and "digital dollars" (stablecoins). Stablecoins have rapidly gained adoption in emerging markets like Latin America, primarily used to hedge against inflation, facilitate cross-border remittances, and bypass high-cost foreign exchange systems. Belo reduces the cost and latency of cross-border transfers by integrating payments, currency exchange, and international transfers into a single app flow, while leveraging cryptocurrency infrastructure for backend settlement.
Prediction markets
XO Market secures $6 million in seed funding and launches user-built prediction markets and liquidity vaults.
The prediction market platform XO Market has completed a $6 million seed round led by investors including 20VC, Picus Capital, and Coinbase Ventures. The platform specializes in user-created markets and, since its mainnet launch, has attracted over 30,000 users and 600 active markets with cumulative trading volume exceeding $150 million. XO plans to launch its “XO Vaults” product, enabling users to pool funds according to strategies or categories—such as sports or politics—to provide liquidity to prediction markets, targeting annualized returns of approximately 8% to 10%, while supporting passive market-making participation similar to “copy trading.”
Others
Collectible card game platform Chance Studios completes a $3.2 million funding round.
Collectible card game platform Chance Studios has raised $3.2 million in funding, led jointly by Makers Fund and Hashed, with participation from Arbitrum Gaming Ventures, Gam3Girl Ventures, and Digital Elm. Chance aims to provide TCG collectors with a unified platform for instant liquidity, transparent transactions, and social interaction.
The DeSci project NanoVita has announced the completion of a strategic funding round, with participation from Harbor Digital Ventures and others.
The DeSci project NanoVita has officially announced the completion of a strategic funding round, with the amount undisclosed. This round was led by investors including Credit Scend, Harbor Digital Ventures, and Apus Capital. NanoVita is a decentralized science (DeSci) protocol integrating nanotechnology, AI-driven biological intelligence, and real-world health data, aiming to build an open and transparent infrastructure for health research. Previously, NanoVita completed a seed round led by Cryptogram Venture (CGV), UDS Space, Candaq Fintech Group, and Susie Venture, as well as a Pre-A round involving K24 Ventures, LandScape Capital, and WestLabs.
Blockworks completes its Series A extension round at a $192 million valuation
Cryptographic data and research platform Blockworks announced the completion of its Series A extension round, with a new valuation of $192 million. The round was co-led by Parafi Capital and Reciprocal Ventures, with participation from multiple institutions including Coinbase Ventures, Advancit Capital, and MoonPay. Over 20 founders and operators from projects such as Solana, LayerZero, Pyth, EigenLayer, Kraken, Arbitrum, and Polygon also participated individually.
Investment institutions
Founders Fund's fourth growth fund has raised $6 billion.
Founders Fund Growth IV, the fourth growth-stage fund by Peter Thiel’s Founders Fund, has raised $6 billion to invest in late-stage companies, setting a new record for the largest fundraising in the fund’s history. Of this amount, $4.5 billion came from limited partners (LPs), including sovereign wealth funds, and the remaining $1.5 billion came from Founders Fund’s senior leadership and employees, including Peter Thiel himself.