Crypto VC Funding Soars Past $5B in July 2025, Led by Strategy’s Bitcoin Push

Crypto VC funding saw a massive leap in July 2025, crossing $5.3 billion and setting a new monthly all-time high for the industry. 

Strategy’s aggressive Bitcoin acquisition plan contributed largely to this figure, per data from RootData. Interestingly, it represents an impressive rise from June’s $2.84 billion total and stands more than four times higher than the $1.02 billion reported in July 2024.

Notably, some crypto VC funding trackers report lower figures for the month, mainly because of a failure to include Strategy’s capital raise and a decision to wait for the final figures from delayed deals.

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Strategy and MARA Lead the Charge

For context, Strategy raised a whopping $2.5 billion, representing nearly 50% of the total figure for the month. The company issued a fourth round of preferred stock, collecting around $2.47 billion after costs. With these funds, it purchased 21,021 BTC at an average price of roughly $117,000 per coin.

This latest buy pushed its total Bitcoin holdings to nearly 628,791 BTC, worth about $72.3 billion at market value. Just days later, Chairman Michael Saylor confirmed that the firm was preparing another $4.2 billion offering to continue its Bitcoin buying spree.

Meanwhile, other major firms also attracted strong investor interest. For one, MARA Holdings completed a $950 million convertible bond sale with zero interest, due in 2032. The company plans to use most of the proceeds to buy more Bitcoin, expand operations, and repurchase some of its outstanding debt. 

Upexi, Mill City, and Pump.fun Raise $1.45M in Crypto VC Funding

In the Solana ecosystem, Upexi secured a $500 million equity line through a flexible stock agreement with A.G.P. The funds will support the company’s growing Solana treasury strategy, which now holds 1.9 million SOL. 

Further, the SUI network also drew massive institutional support. Mill City Ventures III raised $450 million in a private deal to build a SUI asset reserve. Notably, the company acquired over 76 million tokens through over-the-counter agreements with the Sui Foundation. Investors in the round included Pantera Capital, Galaxy Digital, and others.

Meanwhile, Pump.fun achieved an impressive feat last month, raising $500 million through an initial coin offering that sold out in under 12 minutes. The project distributed 125 billion PUMP tokens, representing 12.5% of its total supply, across centralized exchanges and on-chain platforms.

Contributions from MEI Pharma, Polymarket, TWL Miner, and Gamesquare

Also, MEI Pharma became the first publicly traded U.S. company to hold Litecoin (LTC) as a treasury asset. The firm raised $100 million by issuing stock, then used the proceeds to buy LTC. It also brought Litecoin founder Charlie Lee onto its board and brought in digital asset firm GSR as a financial advisor.

Interestingly, prediction platform Polymarket also moved into the U.S. by acquiring a CFTC-approved exchange and clearinghouse for $112 million. Though the company hasn’t announced any token plans, the acquisition represents a big step toward regulatory integration.

TWL Miner, a cloud mining platform based in the UK, raised $95 million in Series B funding to bring artificial intelligence into its mining operations. Meanwhile, Gamesquare Holdings completed a $70 million stock sale to expand its Ethereum holdings through a partnership with Dialectic, a crypto-native investment firm.

Overall, July saw 61 publicly disclosed deals from crypto VC funding, a slight drop from June’s 66 and well below the 114 recorded in July 2024. However, the dollar volume was much higher due to Strategy’s and MARA’s contributions. 

Centralized finance projects made up the biggest share of the crypto VC funding at just over 26%, followed by AI-focused ventures, wallets, and decentralized sectors like DeFi and GameFi. Notably, some of the funding totals may increase over time, as many deals aren’t made public in the same month they close.