In December 2025, 165 crypto companies across 189 rounds secured a combined $6.94 billion in funding. Of this total, 15 companies across 16 rounds raised approximately $5.50 billion through PIPEs, debt, IPOs, or post-IPO equity. Additionally, 11 companies raised funds specifically for Digital Asset Treasury strategies. As shown in the chart below, the largest publicly disclosed raise was Erebor’s $350 million unspecified round.
Read our full December 2025 Crypto Funding Brief ⬇️
This chart highlights major token unlocks exclusively for investors in December 2025 and January 2026. Notably, ONDO will unlock a total of $141.38 million on January 18, 2026. These figures specifically exclude other token allocation categories such as team member distributions, airdrops, or other non-investor allocations.
The size and color of the circles represent the USD value of each unlock.

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