February 2026 Crypto Funding Brief

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Welcome to our Monthly Crypto Funding Brief. Each month, we bring you the latest activities in the fundraising landscape. This newsletter aims to keep you informed about key developments, significant fundraises, active investors, and upcoming token unlocks, helping you stay ahead in the dynamic world of investments.

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In this edition: 

• Largest Venture Funding Rounds
• Most Active Investors
• Distribution of Fundraises by Company Category
• Largest Digital Asset Treasury Funding Rounds
• Distribution of Fundraises by Stage
• M&A Activity
• Notable Fundraise Filings
• Token Unlocks for February 2026 / March 2026

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Monthly Fundraising Highlights 

In February 2026, 124 rounds across 108 crypto companies secured a combined $1.44 billion in funding. Of this total, 10 companies across 11 rounds raised approximately $450.01 million through Debt, PIPEs, and Post-IPO Equity. Additionally, 3 companies raised funds across 4 rounds specifically for Digital Asset Treasury strategies. As shown in the chart below, the largest publicly disclosed raise was Whop’s $200 million Strategic round.

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Note: The charts below do not include accelerator programs.

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Largest Venture Funding Rounds: February 2026

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As shown in the chart below, the top five investors took part in 20 funding rounds. Their investments spanned multiple sectors, including key narratives such as Artificial Intelligence, Banks, Betting & Prediction Markets, Blockchain Intelligence, Blockchain Services, Custodians,  Gaming & Metaverse, Media, Protocol Development, Real-World Assets (RWAs), Payments, Token Issuers, and Trading Services

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Top 5 Most Active Investors

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Distribution of Fundraises by Company Category:  February 2026

In February, Artificial Intelligence, DeFi, and Trading Service companies led in a number of deals with 27 companies raising approximately $201.21 million across 36 rounds.

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Top Digital Asset Treasury Funding Rounds

In February, fundraising activity among Digital Asset Treasury companies continued to slow from prior months, with only 3 companies raising capital across 4 rounds.

Distribution of Fundraises by Stage: February 2026

In February, strategic rounds accounted for the majority of fundraising activity, with 27 companies raising a combined $420.70 million across 28 rounds.

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M&A Activity: February 2026

In February 2026, the crypto space saw 15 acquisitions spanning diverse sectors.

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Notable Fundraise Filings

The chart below highlights the funds that reported the most recent fundraises through the SEC's Form D or D/A filings.

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Token Unlocks: February 2026 and March 2026

This chart highlights major token unlocks exclusively for investors in February 2026 and March 2026. Notably, Layerzero unlocked $23.97 million on February 20, 2026 and will unlock an additional $23.97 million on March 20, 2026. Meanwhile, SUI unlocked a combined total of $34.34 million on February 3 and March 3, 2026. These figures specifically exclude other token allocation categories such as team member distributions, airdrops, or other non-investor allocations.

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The size and color of the circles represent the USD value of each unlock. 

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