VCs indulge in $1.4bn crypto bonanza in January

Venture investors have charged into 2026 at full throttle, despite market volatility and global political chaos.

They ploughed $1.4 billion into crypto companies in January, according to DefiLlama data.

That’s 14% more than in January 2025, even though the number of funding events dropped to 60 from 85, suggesting bigger bets across fewer targets.

Among the top investors this month are traditional Wall Street institutions like BNY Mellon, Fidelity, Citadel Securities, and Bain Capital. Frontier VCs like Arthur Hayes’ Maelstrom Fund, Revolut’s CTO Vlad Yatsenko, Lightspeed, Paradigm, and YZi Labs are also well represented.

VC capital continues to pour into the sector because the existing world order has yet to crumble, despite US President Donald Trump’s controversial policies, Spencer Yang, managing partner at crypto-native advisory firm BlockSpaceForce, told DL News.

“US markets are still the most resilient, especially with the proliferation of AI tools,” Yang said.

Venture investors are now focusing their bets on American startups as regulations stateside become clearer.

“Significant investment in stablecoin companies, cards and payments as well as infrastructure companies has taken place all in the US,” Yang said.

Here are the top three fundraising events in January.

Rain, $250 million

Rain, a crypto-native payments and card-issuing platform, secured the largest private funding round of the month after raising $250 million in a Series B round led by Iconiq Capital.

The company provides core financial infrastructure for crypto businesses and decentralised autonomous organisations, enabling teams to issue bespoke payment cards linked directly to on-chain treasuries.

The round drew backing from Sapphire Ventures, Dragonfly Capital and Bessemer Venture Partners. This underscored the rising institutional demand for compliant, enterprise-grade spend management as the sector professionalises.

BitGo, $213 million

BitGo, an institutional custody and security firm, raised $212.8 million in an initial public offering, marking a landmark moment for crypto infrastructure companies in public markets.

The firm supplies secure storage, liquidity access, and settlement tools relied upon by global banks, hedge funds, and major exchanges operating at scale.

The company said it had sold 11.8 million shares at $18 apiece, above its marketed range.

In December, BitGo won approval from a key ​banking regulator to convert its state-level trust bank ‍charter to a federal charter, allowing it to operate across the US.

LMAX Group, $150 million

LMAX Group, a provider of execution-only trading venues, raised $150 million in a strategic investment led by Ripple.

The move is aimed at strengthening links between traditional market structure and blockchain settlement layers. LMAX Group operates central limit order book venues across foreign exchange and digital assets, delivering execution for institutional participants.

The group has positioned itself as a regulated entry point for banks and asset managers seeking crypto exposure.

Ripple’s investment is intended to accelerate integration between conventional capital markets and onchain rails, reinforcing LMAX’s role as a critical liquidity hub for institutional-scale digital asset trading.

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.