Crypto firms raise $258m despite $2 trillion market drawdown

The $2 trillion crypto market wipeout isn’t stopping venture capitalists from shopping for deals.

Investors poured in another $258 million into crypto companies in the first week of February, according to DefiLlama data.

Popular sectors included decentralised finance with four deals, and payments with three.

“VCs are starting to steer their resources towards later stage projects, particularly those with institutional partnerships in place and clear go-to-market strategies,” Charles Chong, vice-president of strategy at crypto advisory firm BlockSpaceForce, told DL News.

“They’re trying to spot the most promising late-stage project before it achieves mainstream success.”

Here are the top three raises this week.

Anchorage Digital, $100 million

Anchorage Digital, the first US federally chartered crypto bank, secured $100 million in strategic funding led by USDT stablecoin issuer Tether.

The firm provides institutional clients with an integrated suite of services spanning secure custody, trading and crypto-native banking, and positions itself as a one-stop shop for compliant digital asset finance.

The investment is aimed at scaling Anchorage’s infrastructure as demand from asset managers, financial institutions and corporates continues to rise.

“The investment reinforces a broader strategy centred on regulatory alignment and long-term partnerships with institutions that are helping define how stablecoins operate within established financial and legal frameworks,” Tether said.

TRM Labs, $70 million

Blockchain intelligence platform TRM Labs raised $70 million in a Series C round led by Blockchain Capital. The firm is valued at $1 billion.

The round included top investors, including Goldman Sachs, Bessemer Venture Partners, DRW Venture Capital, Y Combinator, Thoma Bravo, Alumni Ventures, Citi Ventures, Brevan Howard Digital, and Galaxy Ventures.

The company supplies analytics software used by financial institutions, crypto firms and government agencies to trace transactions, investigate illicit activity and prevent fraud across digital asset networks.

Fresh capital will be deployed to expand TRM’s investigative capabilities and international footprint, reflecting how closely crypto adoption is now tied to law enforcement cooperation, sanctions monitoring and financial crime prevention.

Jupiter, $35 million

Jupiter, a decentralised exchange aggregator on Solana, completed a $35 million strategic funding round from ParaFi Capital.

The deal was settled in JupUSD, Jupiter’s stablecoin, with ParaFi buying JUP tokens at spot price and committing to an extended token lockup, the protocol said.

On Sunday, Jupiter said on X that prediction market Polymarket will come to Solana through its platform.

You’re reading the latest instalment of The Weekly Raise, our column covering fundraising deals across the crypto and DeFi spaces, powered by DefiLlama.

Lance Datskoluo is DL News’ Europe-based markets correspondent. Got a tip? Email him at lance@dlnews.com.