Crypto venture capital funding has experienced a slowdown in 2025, particularly in the fourth quarter, with a noticeable shift in focus towards infrastructure, stablecoins, and payment systems. According to Coinotag, fewer high-profile deals are being made, and Bitcoin projects are increasingly relying on community support for funding. Data from Galaxy Research indicates a decline in both funding volumes and the number of deals. Notable funding rounds include Telcoin's $25 million raise for its digital asset bank and Hercle's $60 million to enhance its stablecoin infrastructure. Additionally, Momentum, a decentralized exchange on the Sui blockchain, secured $10 million, while Temple Digital Group obtained $5 million in seed funding.