The week of November 23-29, 2025, was a notable period for crypto VC funding, with $10.46 billion in total activity across 10 projects.
Summary
Crypto VC funding soared to $10.46B, led by Naver’s $10.3B acquisition of Dunamu.
M&A dominated with Paxos buying Fordefi for $100M and multiple early-stage raises.
Figure, Gonka, SpaceComputer and others secured new capital amid a strong VC week.
The week was headlined by Naver Financial’s $10.3 billion acquisition of Dunamu, the operator of cryptocurrency exchange Upbit.
M&A activity dominated the investment sector this week, with two major acquisitions representing the majority of funding.
Here’s a breakdown of this week’s crypto VC activity as per Cryptofundraising data:
Dunamu
Dunamu was acquired for $10.30 billion through M&A
Dunamu is a South Korea–based fintech and blockchain company and operator of Upbit cryptocurrency exchange
Acquired by Naver Financial
Share-swap deal valuing Dunamu at 15.1 trillion won
Each Dunamu share exchanged at 2.54 Naver Financial shares
Fordefi
Fordefi was acquired for $100 million through M&A
The project is developing an institutional MPC wallet & security platform
Fordefi was acquired by Paxos
The project has raised $128 million so far
Figure
Raised $25 million in an unknown round
Figure is a blockchain technology startup that offers loan origination and equity management
The investment was backed by Ondo
Gonka
Gathered $12 million in a strategic round
Gonka is an AI-powered prediction and social trading platform
The investment was backed by Bitfury
SpaceComputer
SpaceComputer raised $10 million in a seed round
The project focuses on DePIN, infrastructure, security, and zero-knowledge.
Investors include Maven11, Lattice, and Superscrypt
Funding Under $10 Million
Nexton, $4 million in a strategic round
Pruv Finance, $3 million in a Series A round
CreatorFi (Insomnia Labs), $2 million in an unknown round
Abrakadabra Games, $500,000 in an unknown round
Read last week’s crypto VC funding here.
