Crypto Funding Hits $709 million, Led by IREN’s $550 Million Raise
The crypto sector witnessed a funding boom, reaching nearly $709 million between June 8-14, 2025. IREN, formerly iris Energy, spearheaded this surge with a $550 million private placement of convertible senior notes. This transaction was oversubscribed, increasing from $450 million to $550 million, plus a $50 million greenshoe option. The net proceeds amounted to approximately $534.9 million, showcasing strong investor interest.
Investment activity was particularly strong in infrastructure projects. Several startups secured significant investments, indicating ongoing confidence despite market volatility. Here are the highlights:
- IREN raised $550 million, bringing its total funding to $863 million.
- Hypernative secured $40 million in a Series B round, backed by TenEleven, Ballistic Ventures, and Stepstone.
- Yupp raised $33 million in a seed round, supported by a16z crypto, Coinbase Ventures, and Kunal Shah.
- Turnkey gathered $30 million in a Series B round, backed by Bain Capital Crypto, Sequoia, and Lightspeed Faction.
- Noah and OneBalance also drew attention, raising $22 million and $20 million, respectively.
Other notable funding rounds include:
- Hypernative raised $40 million in a Series B round.
- TYB (Try Your Best) secured $11 million in a Series A round.
- OneBalance raised $20 million in a Series A round.
Smaller projects like OpenTrade and NuConstruct raised $7 million and $6 million, respectively. These investments reflect a continued focus on crypto infrastructure and innovation.
For more details, check Cryptofundraising data reveals a diverse range of funding rounds, from pre-seed to Series B, emphasizing the sector’s robust venture capital activity.
This funding spree underscores the sector’s resilience and growth potential. The diverse funding rounds highlight the sector’s broad appeal, with various stages of investment attracting substantial capital. This trend signals a positive outlook for the industry, despite broader market uncertainties.
