Publicly disclosed crypto venture activity slowed sharply in August 2026, according to RootData. The data shows 61 investment projects for the month, down 10.3% from 68 in July 2026 and down 45.0% from 111 in August 2025.
Sector allocation for August was led by DeFi at about 29.5%. CeFi accounted for roughly 18%, NFT/Game 3.3%, L1/L2 4.9%, RWA/DePIN 4.9%, Tool/Wallet 8.2%, AI 9.8%, and Web3/Others 21.3%.
Total disclosed crypto VC funding for August came to about $742 million. That was down 68.0% from $2.321 billion in July 2026 and down 86.5% from $5.495 billion in August 2025.
RootData noted that projects with undisclosed deal sizes were counted in the number of projects but excluded from the funding total. It also said not every financing round is disclosed in the same month it takes place, meaning the figures may be revised later.
Largest disclosed rounds in August
Ripple Prime, Ripple’s non-bank prime brokerage arm, completed an upsized $275 million private placement of senior unsecured notes. The proceeds will support its U.S. operations, including working capital and general corporate purposes. The notes received a BBB investment-grade rating from KBRA, and Ripple Prime had previously received a BBB issuer rating from KBRA. Piper Sandler served as lead placement agent for the transaction.
Crypto platform Bullish provided a $100 million debt financing facility to stablecoin protocol USD.AI, which was developed by Permian Labs. The protocol currently has more than $225 million in crypto assets locked. Bullish also plans to list USD.AI’s sUSDai and open multiple trading pairs, creating a secondary market channel backed by GPU-supported debt and linking on-chain capital with compute-financing demand to provide liquidity for AI infrastructure development.
Clearing and custody firm RQD* Clearing raised $74 million in a round led by Bain Capital, with participation from ABN AMRO Clearing Bank and Nyca Partners. The company said it will use the funds to expand across North America, Asia and the Middle East, and to develop products covering digital asset custody and tokenization. RQD* provides clearing and custody services for broker-dealers, investment advisers and overseas financial institutions entering the U.S. market. Clearing firms track positions, transfer securities and cash, and manage risk between trade execution and final settlement.
Stablecoin digital bank Fasset raised $68 million in a new financing round led by Japan’s SBI Group, lifting the company’s valuation to $1 billion. It was Fasset’s second major capital injection this year after a $51 million round in May, bringing its 2026 total to $119 million. Fasset operates a one-stop financial platform that allows consumers and businesses to hold, send, pay and invest across multiple currencies and assets, using stablecoins as the underlying settlement infrastructure.
Yellow Card raised $40 million in a strategic financing round backed by SC Ventures, Sony Innovation Fund, Polychain Capital, Blockchain Capital and other strategic investors. The company focuses on stablecoin infrastructure, and said the new capital will be used to scale its end-to-end enterprise dollar account product, Global USD Accounts, and broaden stablecoin rails connecting global markets.
The issuer of yen stablecoin JPYC completed an additional Series B financing, bringing the total raised in the round to about $38 million. The new investor was Japanese logistics group AZ-COM Maruwa Holdings, which invested about $6.3 million. The company said the funding will support expansion of its financial and Web3 ecosystem and promote real-world use of the JPYC stablecoin.
Capital B completed a targeted share issuance worth €21 million, with subscriptions from Adam Back, TOBAM and other global institutional investors, to speed up its Bitcoin Treasury Company strategy. According to the announcement, the securities were issued at €0.58 per share unit with four warrants attached to each ABSA unit. If all related warrants are exercised, the company could raise up to another €135.8 million. Net proceeds from the current financing are expected to reach about €19.9 million and, together with operating income, could fund the purchase of an additional 270 BTC, taking potential total holdings to 3,415 BTC.
Digital asset investment management firm Hivemind Digital Group raised $17 million in a strategic financing round led by UK asset manager M&G Investments, with participation from CPIC Investment Management (H.K.), ZA Bank, FalconX and Sonic Boom Ventures. Alex Seddon, head of impact investing and private equity at M&G Investments, will join Hivemind’s board. Hivemind said the financing will be used to build institutional-grade investment infrastructure focused on blockchain and frontier technology assets, offering investors digital-asset investment tools and governance frameworks.
Entropy.io, a HIP-3 deployer, raised $14 million in a round led by Ribbit Capital and also secured $40 million in HYPE staking support. Its first market, Anthropic pre-IPO, is now live on Hyperliquid. Under the Hyperliquid HIP-3 framework, Entropy already offers perpetual trading tied to global equities, commodities, indexes and pre-IPO shares.
City Protocol, a full-stack new finance infrastructure project, completed seed and Pre-A financing totaling $11 million. Investors in the round included Dragonfly, CMT Digital, Stratified Capital, Bitscale Capital, Adaverse, Mirana Ventures and Jump Crypto. The project said it is working to bring structured financial products on-chain and lower entry barriers for multi-dimensional financial asset allocation.