Five Crypto Companies Raised $116 Million This Week

Five crypto and fintech companies raised a combined $116 million in the week of March 2, 2026, according to Messari data, with a single deal accounting for more than half the total.

ARQ Led the Week at $60 Million

ARQ closed the largest round of the week at $60 million. The raise was backed by Sequoia Capital and Founders Fund, two of the most recognised names in venture capital. The combination of those two firms signals conviction in whatever ARQ is building, given both have been selective about crypto exposure in the current bear market environment.

Sequoia and Founders Fund backing the same round is not routine. It puts ARQ in a different category from the rest of the week’s deals in terms of institutional signal.

Crossover Markets Raised $31 Million

The second largest deal went to Crossover Markets, which closed a $31 million round backed by Tradeweb, Wintermute, and DRW. The investor profile here is notable. All three are institutional trading and market-making operations rather than generalist venture funds. That kind of strategic capital typically comes with distribution, infrastructure access, or both.

Wintermute is one of the largest crypto market makers globally. DRW runs Cumberland, a major crypto trading desk. Tradeweb operates fixed income and derivatives markets. Crossover Markets raised from people who would use it, not just fund it.

Three Smaller Deals Round Out the List

QFEX raised $9.5 million from General Catalyst, Yuri Sagalov, and Y Combinator. The Y Combinator backing places QFEX in the accelerator’s portfolio, which carries its own signal for early-stage credibility.

Cyclops closed $8 million from Castle Island Ventures, F-Prime Capital, and Shift4. Castle Island focuses specifically on blockchain infrastructure, making it a domain-specific backer rather than a generalist bet.

Utexo raised $7.5 million from Big Brain Holdings, Tether, and Portal Ventures. Tether’s presence as a direct investor rather than just a stablecoin provider is the detail worth noting there.

What the Week Suggests

The $116 million total is not a boom-cycle number. But deals are still closing, institutional names are still writing checks, and the range of backers across the five rounds spans generalist venture, crypto-native funds, strategic trading firms, and accelerators. That breadth is more telling than the dollar total.

Capital is still moving. It is just moving more selectively.

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