Nine crypto startups have collectively raised over $869 million this week, according to DefiLlama data. This surge in funding brings the total for 2025 to nearly $16 billion, significantly surpassing last year's total by approximately $6 billion. Industry forecasts by PitchBook suggest that crypto companies could raise $18 billion by the end of the year, with expectations from investors like Galaxy Ventures and Codebase reaching over $25 billion in 2025. Figure Technology, a New York-based stablecoin issuer, led the funding round with a $787.5 million IPO, valuing the company at $5.29 billion. Additionally, Gemini Space Station is planning a Nasdaq listing, potentially raising up to $317 million, with Nasdaq contributing $50 million through a private placement. Inversion Labs also secured $26.5 million in a seed round led by Dragonfly Capital, focusing on integrating blockchain infrastructure into traditional businesses.