How did crypto VC funding perform with Figure’s IPO and Rapyd’s raise?

During the week of September 7-13, the crypto sector witnessed a significant influx of funding, totaling $1.213 billion across ten projects, including venture capital rounds and initial public offerings. Leading the charge was Figure, which achieved one of the largest IPOs in crypto history by raising $787.5 million. This company specializes in loan origination and equity management, amassing a total of $2.51 billion to date. Rapyd, a global fintech platform known for its payment infrastructure, secured $500 million in a Series F round with backing from notable investors like Xpring, Target Global, and BlackRock. Meanwhile, Gemini, a US-based cryptocurrency exchange and custodian, raised $425 million through its IPO, bringing its total funding to $825 million. Inversion Capital, a private equity firm focusing on traditional companies, gathered $26.5 million in a Seed round with support from investors such as Dragonfly, VanEck, and Lightspeed Faction. Additional projects, including Intuition, Everlyn, PlayAI, Gyld Finance, and Recoveris, raised funds ranging from $1.26 million to $2.13 million in various rounds.