Crypto VC Funding Drops 28% Despite $1 Billion November Raises

- November deal count plummeted to 57, marking one of 2025’s lowest points. - High-value rounds by key players offset weak activity, driving total capital upward. 2025-12-07 On December 7, 2025, Cointelegraph reported a sharp decline in cryptocurrency venture funding for November. The month saw just 57 publicly disclosed investment rounds, a 28% drop compared to October. Despite this downturn, the total capital raised surged, driven by significant funding rounds from established companies and impactful acquisitions that are reshaping the sector. Onchain perpetuals platform Ostium secured $24 million, including a $20 million Series A round co-led by General Catalyst and Jump Crypto. Ostium will use this funding to expand its asset coverage and scale its infrastructure, enabling broader access to traditional markets through decentralized solutions. Meanwhile, Axis, an onchain yield protocol, raised $5 million in a private funding round led by Galaxy Ventures, with participation from OKX Ventures and FalconX. This capital will support Axis’s mission to build a transparent onchain yield infrastructure. The protocol aims to bridge traditional financial assets like the US dollar, Bitcoin, and gold with the decentralized finance (DeFi) ecosystem and offer innovative investment options tailored to institutional and retail participants alike. In addition, PoobahAI attracted $2 million in a seed funding round led by FourTwoAlpha, a key early investor in Ethereum and Cosmos. PoobahAI will use the funding to scale its no-code platform, which allows users to build tokenized networks and deploy AI agents without technical expertise. While deal volume continues to weaken, the concentration of funding into larger raises by mature projects highlights a crucial market shift. Investors appear to favor scalable solutions and foundational technologies over smaller, speculative ventures. November’s trends reflect challenges in deal-making across the crypto space and could inform the industry’s broader trajectory in the coming months.