Despite a general downturn in the crypto venture capital market since 2025, leading firms like Coinbase Ventures, Animoca Brands, Andreessen Horowitz (a16z crypto), and Tether continue to actively deploy capital. Coinbase Ventures has participated in approximately 33 deals, Animoca Brands in 19, and a16z crypto in 18. The total monthly financing has varied from hundreds of millions to several billions of dollars, with a focus on early-stage investments. However, investment in the DeFi sector has decreased for three consecutive quarters, with the current quarter's funding reaching its lowest level since Q4 2023. The number of DeFi financing rounds in Q2 2026 also hit a new low since 2020, reflecting stricter funding criteria and intensified competition for market share within the sector.