Key Takeaways
- • Crypto startups raised $313 million across 16 deals in the third week of December 2025, bringing year-to-date funding to $25.4 billion—160% above 2024 levels and substantially exceeding analyst forecasts.
- • RedotPay, a Hong Kong-based stablecoin payments fintech, secured the week's largest round at $107 million in Series B funding, backed by Pantera Capital, Circle Ventures, Blockchain Capital, HongShan, and GoodWater Capital.
- • Venture capital deployment patterns have shifted toward larger check sizes and fewer deals: average round size increased to nearly $37 million while overall deal count declined, signaling a consolidation of capital toward more mature infrastructure and payments projects.
- • Pantera Capital, Circle Ventures, and HongShan Capital led this week's funding activity, reflecting institutional investor confidence in blockchain infrastructure and payments rails connecting crypto with traditional finance.
- • Crypto startups focused on payments and infrastructure dominated fundraising activity, positioning the sector as an emerging institutional investment area despite broader market volatility.
Summary
Crypto startups attracted $313 million in venture funding during the third week of December 2025 across 16 transactions, according to DefiLlama data. This weekly haul represents continued momentum in digital asset investment, bringing the industry's full-year 2025 total to $25.4 billion—a 160% increase from 2024 and far exceeding initial analyst projections for the year.
The funding landscape has undergone a structural shift toward concentrated capital deployment. According to Illia Otychenko, lead analyst at crypto exchange CEX.IO, venture firms are moving away from broad portfolio strategies toward larger individual commitments. "Rather than scattering investments across numerous small projects, VCs are now writing bigger cheques to fewer companies," Otychenko told DL News. Average round size has reached approximately $37 million despite a measurable decline in deal count, reflecting a transition toward investing in later-stage, infrastructure-focused businesses.
RedotPay emerged as the week's primary capital magnet, raising $107 million in Series B funding. The Hong Kong-based fintech specializes in stablecoin payment infrastructure and has secured backing from prominent institutional investors including Pantera Capital, Circle Ventures, Blockchain Capital, HongShan Capital, and GoodWater Capital. RedotPay's platform bridges cryptocurrency and traditional finance by enabling crypto-to-fiat transactions through physical and virtual cards, multi-currency wallets, and cross-border payment tools. CEO Michael Gao framed the capital deployment strategically: "With our latest funding, we plan to accelerate product innovation and expand our global reach."
The week's investor roster—headlined by Pantera Capital, Circle Ventures, and Sequoia's Chinese affiliate HongShan Capital—underscores institutional conviction in blockchain infrastructure and payments convergence. This concentration of capital from established technology-focused venture firms suggests a maturing institutional approach to crypto investment, moving beyond speculative asset positioning toward productive infrastructure development serving real payment flows.
The funding landscape has undergone a structural shift toward concentrated capital deployment. According to Illia Otychenko, lead analyst at crypto exchange CEX.IO, venture firms are moving away from broad portfolio strategies toward larger individual commitments. "Rather than scattering investments across numerous small projects, VCs are now writing bigger cheques to fewer companies," Otychenko told DL News. Average round size has reached approximately $37 million despite a measurable decline in deal count, reflecting a transition toward investing in later-stage, infrastructure-focused businesses.
RedotPay emerged as the week's primary capital magnet, raising $107 million in Series B funding. The Hong Kong-based fintech specializes in stablecoin payment infrastructure and has secured backing from prominent institutional investors including Pantera Capital, Circle Ventures, Blockchain Capital, HongShan Capital, and GoodWater Capital. RedotPay's platform bridges cryptocurrency and traditional finance by enabling crypto-to-fiat transactions through physical and virtual cards, multi-currency wallets, and cross-border payment tools. CEO Michael Gao framed the capital deployment strategically: "With our latest funding, we plan to accelerate product innovation and expand our global reach."
The week's investor roster—headlined by Pantera Capital, Circle Ventures, and Sequoia's Chinese affiliate HongShan Capital—underscores institutional conviction in blockchain infrastructure and payments convergence. This concentration of capital from established technology-focused venture firms suggests a maturing institutional approach to crypto investment, moving beyond speculative asset positioning toward productive infrastructure development serving real payment flows.
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