Quarterly momentum: This momentum accelerated into H1 2025: Q1 2025 reached ~$4.8B (highest since Q3 2022) , and although Q2 dipped to ~$2.0B (after the Binance boost in Q1), Q3 2025 rebounded ~+47% QoQ to $13B . In other words, by mid-2025 the quarterly run-rate of crypto venture investment was back on par with early-2022 levels.2025 has been marked by a huge resurgence in capital deployment. By Q4 2025, year-to-date funding exceeded $30B , already surpassing 2024’s total by $21B . Quarterly investment hit ...