June 2026 Crypto Funding Brief
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.
In this edition:
- Largest Venture Funding Rounds
- Most Active Investors
- Distribution of Fundraises by Category
- Largest Digital Asset Treasury Funding Rounds
- Distribution of Fundraises by Stage
- M&A Activity
- Notable Fundraise Filings
- Token Unlocks for June 2026 / July 2026
Monthly Fundraising Highlights
In June 2026, 76 crypto companies secured a combined $2.44B in funding across 79 rounds. Total capital raised was down approximately $640 million and there were 14 fewer rounds when compared to last month. Of this total, 6 companies raised approximately $1.32B through PIPE, debt, or post-IPO equity.
Largest Venture Funding Rounds
The largest venture round this month was Digital Asset's $355M Strategic raise led by a16z crypto. Digital Asset is the developer behind Canton Network, a privacy-focused blockchain for institutional capital markets. The raise will be used to accelerate Canton Network's role as an on-chain infrastructure provider for capital markets.
Morpho Labs followed with a $175M Strategic raise (co-led by Paradigm, a16z crypto, and Ribbit Capital) to expand its on-chain credit network. This follows a recent announcement from Robinhood that it had chosen Morpho to power a new risk-adjusted yield product.
Most Active Investors
The top five investors made a total of 17 investments this month. Their investments spanned multiple sectors, including Betting & Prediction Markets, DeFi, Decentralized Social, Infrastructure Provider, Payments, Protocol Development, Real-World Assets (RWAs), Security Services, and Trading Services.
This month, Coinbase Ventures participated in the most rounds, while a16z crypto led the most. Notably, a16z crypto participated in the top two largest rounds by capital raised (Digital Assets & Morpho Labs), as well as a third investment in the newly launched compute market platform Ornn.
Distribution of Fundraises by Sector
Continuing trends seen last month, Payments led with 16 rounds raising $332.79M, up $80.9M from May 2026. Additionally, the Digital Asset Treasury sector was ranked first by capital raised.
Digital Asset Treasury Funding Rounds
In June, three Digital Asset Treasury companies raised approximately $1.05B, making this one of the sector's biggest months since the trend appeared. Conversely, the period's most symbolic treasury move was a sale rather than a raise. For the first time since 2022, Michael Saylor’s Strategy (MSTR) has started selling bitcoin. Strategy is the largest holder of bitcoin and often seen as the first true Digital Asset Treasury company.
The month's single largest round was not a traditional venture raise but a $700M PIPE round (private investment in a public entity) for Digital Currency X Technology Inc. (formerly known as Chijet Motor Company, Inc.). Before rebranding to Digital Currency X Technology Inc., Chijet Motor Company, Inc. was a Chinese EV manufacturer. Last September, shareholders approved the name change, and on March 20, 2026, it sold its entire legacy EV subsidiary for $1 to fully exit the auto business and pivot to digital-asset management.
Distribution of Fundraises by Stage
In June, Strategic rounds led the way once again with 20 deals raising a combined $571M. It's now the most active round type in five of the past six months. By capital raised in the month of June, Strategic rounds came in second only to a single $700M PIPE.
M&A Activity
June M&A activity was flat at 15 transactions when compared to May. This month, the most notable deal was Robinhood's acquisition of WonderFi, a Canadian based digital asset business holding company. The acquisition was first announced over a year ago on May 13, 2025, with a deal valuation of roughly C$250M. The deal was originally expected to close in the second half of 2025, however it was held up by Canadian regulatory issues. The acquisition finally closed on June 1, 2026 once CIRO (Canadian Investment Regulatory Organization) cleared the transfer of WonderFi's regulated subsidiary, Coinsquare Capital Markets.
Another notable deal this month was Blockworks' $10M acquisition of Messari. Messari had reached a $300M valuation during its 2022 Series B round, making this roughly a 97% markdown.
Notable Fundraise Filings
Funds that reported the most recent fundraises through Form D or D/A filings.
Token Unlocks: June 2026 and July 2026
This chart highlights major token unlocks exclusively for investors in June 2026 and July 2026. Notably, LayerZero unlocked $13.15 million on June 20, 2026 and will unlock an additional $11.02 million on July 20, 2026. Meanwhile, Ethena unlocked a combined total of $12.56 million on June and July 2, 2026. These figures specifically exclude other token allocation categories such as team member distributions, airdrops, or other non-investor allocations.
