24 projects raised $176 million this week, led by Brale ($30M) and Finary ($29.39M), while Helius, Solmate, and Capital B announced a combined $868.2 million in digital asset treasury allocations. MoonPay, Keyrock, LimeWire, Chiliz, and Paxos completed acquisitions, with no new venture funds launched. Andrew Kang projected mass adoption of sub-$50k humanoid robots, Ryan Adams argued U.S. legalization unlocks a decade of deferred DeFi innovation to compete with Wall Street, and Santiago R Santos framed crypto to institutions as battle-tested infrastructure delivering efficiency and real-time risk monitoring. Here’s the breakdown of this week’s top deals and insights.
VC CT: Andrew Kangoutlined a humanoid thesis projecting sub-$50k general-purpose robots as cost-effective labor; Ryan Adamsargued U.S. legalization unlocks a decade of deferred DeFi innovation to challenge Wall Street; and Santiago R Santosframed crypto to asset managers as battle-tested infrastructure delivering efficiency and real-time risk monitoring.
Notable Deals
24 projects collectively raised $176 million this week. Here are the 10 that stood out:
In recent months, digital asset treasury activity has accelerated, with corporate and structured vehicles increasingly accumulating tokens at scale. Here are notable examples from the past week:
Helius
The Pitch: Helius Medical Technologies (Nasdaq: HSDT) closed an oversubscribed private placement exceeding $500 million to establish a SOL-backed treasury company. The initiative aims to create a leading institutional Solana treasury vehicle with the potential to scale beyond $1.25 billion. It will deploy capital into SOL and Solana-native strategies while leveraging the network’s yield-generating features.
The Pitch: Nasdaq-listed Brera Holdings (Nasdaq: BREA) is rebranding as Solmate, a Solana-focused DAT, following an oversubscribed $300 million private placement. The vehicle will acquire SOL as its primary reserve asset, backed by a strategic agreement with the Solana Foundation to secure discounted accumulation.
The Pitch: Capital B raised $68.2 million through a private placement to expand its Bitcoin treasury strategy, reinforcing its position as one of Europe’s first Bitcoin-focused treasury companies. With 2,249 BTC currently held, the funding could support the acquisition of around 500 additional BTC, bringing total holdings to 2,749 BTC.
Round: $68.2 million private placement
Investors: N/A
M&A Activity
MoonPay acquired Meso
MoonPayacquiredMeso, a developer-first ramps platform that provides instant bank-to-wallet funding, stored payment methods, KYC/AML and fraud tooling. Meso’s co-founders, Ali Aghareza and Ben Mills, will join MoonPay as CTO and SVP of Product, respectively. Together with MoonPay’s earlier 2025 acquisitions of Iron and Helio, the deal advances MoonPay’s plan to offer a unified payments stack for consumers and businesses across fiat and digital assets.
Keyrock acquired Turing Capital
Keyrockpaid $27.8 million to acquireTuring Capital, a Luxembourg-registered alternative investment fund manager. Keyrock will use this acquisition to launch its new Asset and Wealth Management division. Turing Capital’s systematic, crypto-native strategies and regulated fund structure will form the foundation of the new unit, which will operate as a distinct business led by Turing co-founder Jorge Schnura, now President of Keyrock Asset and Wealth Management and a member of Keyrock’s executive committee.
LimeWire acquired Fyre Festival
LimeWireacquired the rights to Fyre Festival for $230,000, with plans to revive the infamous brand through a crypto-focused relaunch. LimeWire, which was reborn in 2022 as a music NFT marketplace, intends to integrate the LimeWire token into future festival plans and is exploring mechanisms such as NFT-based redemptions for original ticket holders. While specifics remain undecided, CEO Julian Zehetmayr confirmed that a physical event is planned and that crypto will “definitely” play a role.
Outlined a humanoid thesis arguing that general-purpose robots are nearing commercial viability as cost-effective labor substitutes, projecting sub-$50k unit costs and eventual mass adoption.
Argued that with U.S. legalization in 2025, crypto can now deploy a decade’s worth of DeFi innovation long constrained by regulation, setting the stage for direct competition with Wall Street.
Pitched crypto to a major asset manager by highlighting efficiency gains like instant settlement and real-time risk monitoring, noting DeFi is now battle-tested with clearer regulation.
Quick Recap
Total Deals: 24
Total Raised: $176M
Digital Asset Treasuries: $868.2M
Acquisitions: 5
Newly Launched Funds: 0
That’s a wrap for this week’s Crypto Venture Weekly. Thanks for tuning in, and see you next week!
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Jake is a Research Analyst on the Protocol Research team. He previously worked as an Investment Analyst at an AI-driven crypto research platform and as a Venture Analyst at a digital assets venture fund. He advised multiple RWA tokenization projects on tokenomics. Jake graduated from the University of Southern California, where he studied Philosophy and Finance.
Alice is a Research Analyst on the Protocol Services team. She previously worked as a Research Analyst at The Block and was an Investment Intern at Variant Fund. Alice graduated from Northwestern University, where she studied Economics.
Jake is a Research Analyst on the Protocol Research team. He previously worked as an Investment Analyst at an AI-driven crypto research platform and as a Venture Analyst at a digital assets venture fund. He advised multiple RWA tokenization projects on tokenomics. Jake graduated from the University of Southern California, where he studied Philosophy and Finance.
Alice is a Research Analyst on the Protocol Services team. She previously worked as a Research Analyst at The Block and was an Investment Intern at Variant Fund. Alice graduated from Northwestern University, where she studied Economics.
