2022 started on a positive note for the entire crypto space, but it hasn’t been without mixed reactions tailing the series of unprecedented events, such as cryptocurrency’s non-partisan role in Russia’s ongoing invasion of Ukraine.

Although the sector is still in its early stages, there are several promising projects that have attracted investors’ attention. All indications point to an extremely productive quarter of 2022 which ended March.

With approximately $5.3 trillion in crypto investments made, January was a notable month. Similar success was seen in March, which saw over $4.83 trillion invested. February, however, had only $1.28 billion. This brings the cumulative total investment for Q1 2022 at approximately $11.7 billion.

With this in mind, we will be looking at the cryptocurrency funding flows in the first quarter and their sources. Although we only will focus on five top-funded projects each month for the first quarter of 2022, this article will include information about the funding sources and the amounts received by projects not included in that list.

These are the Top 5 Most Funded Cryptoprojects for January

5. Animoca Brands – $358.8 million (pending KKR – set to up the funding round to $500 million)

Animoca Brands has its headquarters in Hong Kong and is a pioneer in digital entertainment, Blockchain, and Gamification. Animoca Brands, a leading blockchain and cryptocurrency company, is well-known for publishing a wide range of products including REVV tokens and SAND tokens.

In its latest milestone, the 2014-founded startup announced the capture of $358.8 million to bolster the non-fungible token (NFT) industry, as well as to “build the open metaverse.”

While the latest funding round, led by Liberty City Venture, trails its previous $64 million and $138.88 million rounds of 2021, it has served to push the company’s overall valuation to a new high of $5 billion.

4. FTX.US – $400 million

FTX.US (global) is a subsidiary. The former, however, is restricted to U.S. citizens. The crypto exchange reached another landmark when it raised $400m to reach an $8 billion valuation.

Although the founding was closed as ‘Series A’ for FTX U.S, it was announced as ‘Series C’ for the overall firm of FTX Trading Limited, whose overall valuation has now grown to a new high of $32 billion.

The latest round for the rapidly-growing exchange saw participation from the likes of Paradigm, Temasek, NEA, Multicoin Capital, Tribe Capital, Ontario Teachers’ Pension Plan Board, SoftBank Vision Fund 2, Greenoaks Capital, Steadview Capital, and Lightspeed Venture Partners, amongst others.

The latest round is said to be the third-in-a-row for FTX global over the previous 6 months ending January 2022, thereby bringing the total amount raised to an astonishing $1.8 billion as FTX’s valuation increased by over 75% throughout the same period.

3. Fireblocks – $550 million

Fireblocks is an infrastructure provider for digital assets based in New York. It supports more than 800 institutions and powers several crypto and digital asset products for the biggest custodians and fintechs.

It was established in 2018, and announced that it raised $550 million through its Series E round. The funding will catalyze the company’s current value of $8 billion. According to a press release, the new resources will enable the barely four-year-old startup to pursue its mission to “help every business become a crypto business.”

This round of negotiations was led by both D1 Capital Partners Spark CapitalParticipation by several venture capitalists, General Atlantic, Index Ventures, Mammoth, CapitalG (Alphabet’s independent growth fund), Altimeter, Iconiq Strategic Partners, Canapi Ventures, and Parafi Growth Fund

2. Checkout.com – $1.07 billion

Checkout.com, a global payment processor announced that it had acquired one billion dollars through a Series D financing round.

With participation from primary investors including Altimeter, Dragoneer, Franklin Templeton, GIC, Insight Partners, the Qatar Investment Authority, Tiger Global, the Oxford Endowment Fund, etc, the latest round sent the company’s valuation to a new high of $40 billion, up from the $15 billion previously recorded after it raised $450 million at the same time in the preceding year.

In 2012, the startup was founded and offers an online platform with full functionality that makes it easy to pay large enterprise merchants. The newly added resources will support the firm’s mission of enabling businesses and their communities to thrive in the evolving digital economy.

1. Citadel Securities – $1.15 billion (plans to pivot into crypto)

Electronic market maker and stock trading giant Citadel Securities, landed what could be described as its first “external investment” in January. The latest round, worth $1.15 billion, was co-led by venture capital firm Sequoia Capital and cryptocurrency investor Paradigm, pushing the company’s overall valuation to approximately $22 billion.

Citadel Securities, founded 2001, handles more than 30% of U.S. trades, which includes equities and fixed income. A possible addition to this list is crypto.

“Our partnership with Sequoia and Paradigm puts us in an even stronger position as we continue to scale our business, broaden into new markets and attract the world’s most brilliant minds,” said Citadel Securities CEO Peng Zhao in a statement.

The following funding was also available for the month January:

• HAL – $3 million (Led By CoinFund and Eden Block.
• STEPN – $5 millionSequoia Capital and Morningstar Ventures are some of the investors.
• Seashell – $6 millionKhosla Ventures & Kindred Ventures are co-leads
• Flip – $6.5 millionDistributed Global and Chapter One are co-led
• Byte Trading – $7 million Robinhood (NASDAQ:), and N26 co-led with participation by Possible Ventures (L1 Digital and D4 Ventures.
• SuperDAO – $10.5 millionAllianceDAO and Signal Fire are backed by One Block Capital, PearVC, DIGITAL, Signal Fire, AllianceDAO and Signal Fire.
• Cion Digital – $12 million (Green Visor Capital, 645 Ventures and others.
• Stader Labs – $12.5 millionThree Arrows Capital is the leader, with Accomplice, DACM and GoldenTree Asset Management joining in as additional participants
• Livepeer – $20 million (Led and managed by Alan Howard of Tiger Global, with existing investors participating.
• Inflection – $40.7 million (Investors include Accolade Partners, Evanston Capital, Isomer, Hutt Capital, Multiple Capital, Christian Angermeyer’s Presight Partners, Galaxy Digital, and others)
• Metaplex Foundation – $46 million (Co-led by Multicoin Capital and Jump Crypto)
• DeFi Alliance – $50 million (Led By 300 Web 3 Leaders
• Serum Community Foundation – $75 million (Backed Tiger Global and Commonwealth Asset Management, Tagus Capital as well as executives from Golden Tree Asset Management.
• Sygnum – $90 million (Led by Sun Hung Kai & Co., a Hong Kong-listed financial services company)
• CoinTracker – $100 millionAccel is leading the effort, but previous and current investors, including General Catalyst Capital, Initialized Capital and Y Combinator Continuity are also involved.
• Global Processing Services – $100 million (Backed Temasek, a Singapore-based investor and MissionOG in the United States)
• Zero Hash – $105 million (Backers include Bain Capital, NYCA, and Steve Cohen’s Point72 Ventures)
• Phantom – $109 million(Led to by Paradigm
• Lukka – $110 million (Led by Marshall Wace with participation from old and new investors including Miami International Holdings, Inc., Summer Capital, SiriusPoint Ltd., Soros Fund Management, Liberty City Ventures, S&P Global, and CPA.com)
• SEBA – $120 million (Co-led by a consortium of three investment firms — Altive, Ordway Selections, and Summer Capital — and DeFi Technologies.)
• iTrust Capital – $125 million (led NYC-based growth equity company Left Lane Capital.
• NEAR – $150 millionThree-Arrows Capital is the leader with participation from Dragonfly Capital and Mechanism Capital.
• Blockdaemon – $207 millionSapphire and Tiger Global led the initiative, with contributions from SoftBank Vision Fund 2, Boldstart Ventures (StepStone Group), and other existing investors.
• OpenSea – $300 million(Led By Paradigm and coatue

In January, the estimated total funding was $5.33 trillion

Here are the top 5 most funded crypto projects in February

5. Tribal Credit – $60 million
Tribal Credit, a fintech startup based in San Francisco, facilitates B2B transactions and also acts as an emerging market financing platform. The company released a press release in February revealing that it has raised $60 Million through Series B financing from SoftBank Latin America Fund.

Coinbase Ventures (NASDAQ:) participated in this round, joining prominent investors QED Investors, Rising Tide, BECO Capital and QED Investors. Additional strategic players such as Circle Ventures (NASDAQ:) Ventures, AGE Fund and Third Prime were able, in part, to join the round through secondary shares acquisition.

The 2016 startup has a growing client base in 22 countries. However, the company claims the funding will allow it to expand across Latin America. It continues building its local teams, including those in Brazil, Colombia Mexico, Peru and Chile.

4. Dune Analytics – $69.42 billion

Headquartered in Norway, Dune Analytic is a Web 3.0 analytic platform which recently attained ‘Unicorn’ status after raising $69.42 million in a Series B funding round.

The round was led by Coatue Management hedge fund, and investors such as Multicoin Capital or Dragonfly Capital participated.

Popularity grew for the startup, which was founded in 2018, when it helped its users to create dashboards and data charts for metrics that cut across NFT and DEX trading volumes. The current platform has 10,000 analysts as well as at least 100,000 pieces analysis.

3. Aleo – $200 million

Aleo, which is a leader platform that allows the creation of private blockchain-based apps, was the third highest riser for February. The startup, which was founded in 2019, revealed that it had received $200 million more from Series B financing, bringing its total valuation to $1.45 billion.

According to the release the round was led and managed by Kora Management LP, SoftBank Vision Fund 2, and included participation from Tiger Global and Sea Capital as well as Slow Ventures, Samsung (KS) Next and Andreessen Horowitz(a16z).

These new resources have brought the startup’s total amount raised close to $230 million, which it will reportedly use to facilitate the expansion of products and services built on private-by-default, blockchain-based platforms.

Aleo notably uses a cutting-edge technology called ‘zero-knowledge cryptography’ which enables developers to build decentralized applications that offer end-users personalized Web 3.0 services – without sacrificing control of their personal data. Aleo transactions, unlike other blockchains like, are executed off-chain and verified by nodes.

As such, platforms which implement Aleo’s infrastructure are able to support a higher volume of transactions, and empower their developers to create dApps capable of addressing complex, real-world use cases that currently require centralized servers, all while complying with relevant laws.

2. Compute North – $385 million

A Leader in sustainable, large-scale computing infrastructure, Compute North announced that it had closed a $385 million round in February as part of what it described as “strategic funding for TIER 0 computing infrastructure.”

Funding consisted of $300 million in financing and $85 million for Series C equity. Mercuria was co-leading the effort, as well as participation by other investors like Generate Capital. National Grid (LON:) Partners.

Compute North will remain a leader in TIER 0 computing infrastructure providers. However, these resources will allow Compute North support the creation of U.S.-based data centres, increasing their capabilities and enabling more growth.

1. Polygon – $450 million

Polygon, an Indian-based secondary scaling solution to the Ethereum Blockchain, was established in February by three Indian nationals. It announced that it closed its $450m crypto-funding round. This brings the total value of the decentralized blockchain network to $20 Billion.

Led by Sequoia Capital India, the latest round saw participation from SoftBank venture capital, Tiger Global, Galaxy Digital, and Reddit co-founder Alexis Ohanian’s venture capital firm Seven Seven Six.

While the funds were raised through the private sale of the network’s native token – MATIC, they will reportedly be utilized to facilitate Polygon’s endeavour to boost its gaming and NFT presence.

The following funding was also available for February:

• Assange DAO – $6 million (Led by DAO)
• Blitmap – $12 million (Led by Paradigm)
• Zebec – $15 million ( led by Ventures and Distributed Global with participation from Lightspeed Venture Partners, Circle, Coinbase, etc. )
• Rainbow – $18 million (led by Seven Seven Six, the VC fund set up by Reddit co-founder Alexis Ohanian)
• OpenNode – $20 million (led by UK-based firm Kingsway and with additional investment from Twitter (NYSE:), Tim Draper, and Avon Ventures,)
• Foxbit – $21 million (Led by OK Group, owner of crypto exchange Okcoin.)
• Aligned – $34 million (Investors include GSR, Altium Capital and Cavalry Fund, as well as individual investors like film producer Happy Walters.)

The February Estimated Total Financing: $1.28 Billion

These are the Top 5 Most Funded Cryptoprojects for March

5. Roofstock – $240 million

Following its recent venture into the blockchain space, Roofstock, a leading end-to-end online platform for single-family rental (SFR) investing, announced in March that it had raised $240 million in its Series E equity finance round, Thus bringing the company’s overall valuation to $1.94 billion.

The round was led by SoftBank Vision Fund 2, with participation from existing and new investors including Khosla Ventures, Lightspeed Venture Partners, Bain Capital Ventures, Canvas Ventures, Citi Ventures, First American Financial (NYSE:), Expanding Capital, 7GC & Co., JLL Spark, SVB Capital, The Private Shares Fund, Masco (NYSE:) Ventures, Newton Investment Management North America, Pegasus Tech Ventures, CAZ Investments, Moving Capital (aka Uber (NYSE:) Alumni Investment Club) and DoorDash Angels.

They will help to bring more innovative solutions to the marketplace, as the company has received new resources at a critical time. Roofstock has been exploring blockchain solutions to tokenize Roofstock One shares as well as other SFR-related products.

A portion of the new resources will also be dedicated to doubling the size of the Roofstock team, as well as to the development of products and services to optimize portfolios, while providing capital for additional strategic M&A.

4. ConsenSys – $450 million

ConsenSys is a blockchain technology company that raised $450m in its Series D round of funding. This brings the company’s valuation up to $7 billion. In its official press release, ConsenSys revealed that the latest round was led by ParaFi Capital, marking the firm’s second commitment since it made its debut investment in the company’s Series C round.

However, ParaFi wasn’t alone, as the latest round also saw participation from new investors, including Temasek, SoftBank Vision Fund 2, Microsoft (NASDAQ:), Anthos Capital, Sound Ventures, and C Ventures. Series C investors — Third Point, Marshall Wace, TRUE Capital Management, and UTA VC, United Talent Agency’s venture fund

ConsenSys is a leader in the creation of foundational software for Web 3.0. The funding will help the company achieve its goal to increase Web 3.0 adoption around the globe.

3. Yuga Labs – $450 million

Yuga Labs (creators of the Bored Ape Yacht Club) raised $450M in Series Seed financing in March. According to a press release, the startup’s latest round was led by a16z crypto, with additional participation from top tier game studios like Animoca Brands and its subsidiary, The Sandbox.

Thrive Capital and Sound Ventures were strategic partners, along with crypto leaders such as FTX, MoonPay and LionTree.

While the new resources have stretched Yuga’s current valuation to $4 billion, it has also given the company the ability to swiftly market the new products currently in the works. In addition to the, the funding will also aid in the onboarding of new partners with strategic views that match Yuga’s vision

2. Electric Capital – $1 billion

Electric Capital, a San Francisco-based crypto venture capital firm, has raised $1B in capital funding. This money will be used to subsidize blockchain-enabled businesses, Web 3.0 protocols, as well as crypto networks. Electric Capital is now one of the most prestigious, independent crypto-native VC companies in the world.

Electric Capital has closed its latest financing round. The company will continue investing a median amount of $1 million-$20 million in equity or tokens across a variety of areas.

• These platforms and protocols support the creation of new communities that are powered by NFTs or DAOs.
• Engineers can build next-generation applications using the decentralized Web 3.0 infrastructure without requiring a control or point of failure.
• The decentralized finance system that makes it possible to have access to all financial products.
• Accessible user experiences for millions of Web 3.0 users.

1. Katie Haun’s Haun Venture – $1.5 billion

Katie Haun was the recipient of the largest crypto fund in the first quarter. She recently resigned as Andreessen Horowitz to start her crypto-focused VC company. Haun was the talk of town after she announced a seed investment in her startup for $1.5 billion.

Haun is currently the Founding CEO and founder of Haun Ventures. First, a 500 million-dollar seed fund. The other portion, a $1 billion, is for more well-established companies that focus on Web 3.0. This sector is a less centralized vision of the internet, powered by blockchain technology and cryptocurrencies.

The following funding was also available for February:

• TIE – $9 million( lEDby Blizzard, participation of executives at Golden Tree Asset Management and NYDIG Hudson (NYSE) River Trading, Republic Capital and Gemini Frontier Fund Nexo among other.)
• Space Runners – $10 millionPantera Capital, Polychain Capital co-led.
• WalletConnect – $11 millionUnion Square Ventures and 1kx co-lead the project
• Blur – $11 millionLedby Paradigm
• Magic Eden – $27 million Paradigm, Solana Ventures and Greylock Partners participated in the group.
• Stanford Researchers – $32 MillionGreylock Partners and Electric Capital lead the effort. Sequoia Capital and Blockchain Capital also participate.
• VALR – $50 million Pantera Capital is the leader with Alameda Research and Cadenza as well as CMT Digital, Coinbase Ventures and others.
• HEX Trust – $88 million(Co-led By Animoca Brands & Liberty City Ventures
• Mina Ecosystem – $92 million (Led By FTX Ventures & Three Arrows Capital
• StarkWare – $100 million (Unidentified.)
• DAO5 – $125 millionPrivate investors are the ones who lead this initiative
• Immutable – $200 million (Led By Temasek, a Singaporean investment company owned by the state. Tencent was also involved.
• Binance.US – $200 millionRRE Ventures (Investors: Original Capital and Foundation Capital), VanEck Ventures, VanEck Ventures, VanEck Circle Ventures as well as Gaingels and Gold House.
• ClearBank – $230 millionApax Digital, a private equity advisory firm.

The March Estimated Total Financing: $4.83 Billion

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