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 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
Figure announces that @OndoFinance has made a $25M strategic investment in $YLDS, integrating Figure’s SEC registered yield-bearing stablecoin into the Ondo Short-Term US Treasuries Fund (OUSG), to expand and diversify the reserves backing OUSG.
The partnership follows Figure’s… https://t.co/MQbFwSVgO1
— Figure (@Figure) November 24, 2025
Gonka
- Gathered $12 million in a strategic round
- Gonka is an AI-powered prediction and social trading platform
- The investment was backed by Bitfury
Bitfury Group @BitfuryGroup has completed a $12M GNK purchase following a community vote.
It’s a clear signal: the future of AI compute will be distributed, not centralized.
The community of compute contributors made this outcome possible. pic.twitter.com/XDOKCLNwkG
— Gonka (@gonka_ai) November 27, 2025
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.
