Crypto Funding Surge: June 8-14, 2025

Crypto funding surged to nearly $709 million during the week of June 8-14, 2025, driven by a massive $550 million private placement by IREN.

Venture capital activity remained robust across the sector, especially in infrastructure, with funding rounds ranging from pre-seed to Series B.

Startups like Hypernative, Yupp, Turnkey, and OneBalance attracted significant investments, indicating sustained investor confidence in crypto infrastructure and application-layer innovation amid broader market volatility.

Breakdown of Major Funding:

IREN (formerly Iris Energy)

• Raised $550 million through private placement of convertible senior notes.
• Total raised: $863 million

> IREN is pleased to announce the closure of its upsized $550m convertible notes offering. Key details: – Oversubscribed & upsized from $450m to $500m, plus $50m greenshoe – Net proceeds of approximately $534.9m – 3.50% coupon, 30% conversion premium
> — IREN (@IREN_Ltd) June 13, 2025

Hypernative

• Secured $40 million in a Series B round.
• Backed by TenEleven, Ballistic Ventures, and Stepstone.
• Total raised: $65 million

> Hypernative has raised a $40M Series B round to remove the biggest blocker to Web3 mass adoption—security.
> — HypernativeLabs (@HypernativeLabs) June 10, 2025

Yupp

• Raised $33 million in a Seed round.
• Investors included a16z crypto, Coinbase Ventures, and Kunal Shah.

Turnkey

• Raised $30 million in a Series B round.
• Backed by Bain Capital Crypto, Sequoia, and Lightspeed Faction.
• Total raised: $52.5 million

> We’ve raised a $30M Series B led by @BainCapCrypto to power innovation in crypto!
> — Turnkey 🔑 (@turnkeyhq) June 9, 2025

Noah

• Raised $22 million in a Seed round.
• Investors included LocalGlobe, Felix Capital, and FJ Labs.

OneBalance

• Secured $20 million in a Series A round.
• Backed by Cyber Fund, Blockchain Capital, and Mirana Ventures.
• Total raised: $25 million

> We are excited to announce our $20m Venture Round co-led by @cyberFund_ and @blockchaincap with participation from @mirana and @l2iterative, bringing our total funding to $25m!
> — ☉neBalance (@OneBalance_io) June 11, 2025

Other Projects Under $11 Million

• TYB (Try Your Best); $11 million in a Series A round
• OpenTrade; $7 million in an unknown round
• NuConstruct; $6 million in a Seed round
• Soon (Solana Optimistic Network); $5 million in an unknown round
• Rise Labs; $4 million in a Strategic round
• Orange Cap Games (Vibes); $3.5 million in a Seed round
• Towns Protocol; $3.3 million in a Public sale
• Silhouette; $3 million in a Pre-seed round
• Hey Anon; $144,000 in an unknown round

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