Crypto VC funding: Coinbase acquires Echo for $375m, Pave Bank raises $39m

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Crypto venture capital activity has been brisk in recent months, with both established players and emerging projects securing significant funding to fuel the next wave of blockchain innovation.

The week of October 19-25 recorded $587.92 million in crypto VC funding across 22 projects.

Summary

The crypto VC landscape remains dynamic, as platforms like Echo, Pave Bank, and Bluwhale attract millions in funding from major investors.
In addition to these high-profile raises, a variety of smaller projects across sectors, including token distribution and decentralized finance, have also secured crucial early-stage investments.
Pave Bank, EthSign, Bluwhale, and BitcoinOS also raised major rounds. These deals highlight the growing confidence in crypto’s long-term potential, despite the volatility in the broader market.

From Coinbase’s acquisition of Echo for $375 million to the steady stream of Series A and seed rounds backing on-chain infrastructure and digital finance platforms, investment in the space shows no signs of slowing.

Here’s a list of this week’s crypto funding activity according to Crypto Fundraising data.

Echo

Coinbase continued its buying spree, offering $375 million for Echo
Echo is a community-based on-chain investment platform
This is the fifth major deal Coinbase announced in 2025. In January, it acquired Stryk, a Cyprus-based unit of BUX specializing in contract-for-difference (CFD) trading services for European residents. The same month, Coinbase also purchased Spindl, a San Francisco startup developing a blockchain-based attribution system to help businesses drive user growth. In May, the company acquired Deribit, a Netherlands-based cryptocurrency derivatives exchange. By July, Coinbase added Liquifi, a San Francisco startup focused on automating token vesting and lockups. Financial terms for the acquisitions were not disclosed.

Pave Bank

Pave Bank secured $39 million in a Series A round
Backed by Accel, Tether, and Wintermute Ventures
The project has raised $44.2 million so far

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Sign (Ethsign)

Raised $25.5 million in an Unknown round
Investors include YZiLabs and IDG Capital
Sign is an on-chain infrastructure for token distribution and has raised $54.15 million so far

Sign Secures $25.5M Strategic Investment Led by YZi Labs @yzilabs, with IDG Capital @IDGCapital Participation to Build Blockchain Infrastructure for Global Nations pic.twitter.com/KHJLRmS9WO

— Sign (@ethsign) October 21, 2025

Bluwhale

Bluwhale gathered $10 million in a Series A round
Investment was backed by UOB, PAID Network, and Spartan Capital

BitcoinOS

BitcoinOS Raised $10 million in an Unknown round
Investors include Green Assets, Falcon X, and DNA Fund

BOSes. Our $10M investment round led by @greenfield_cap marks a major step toward building programmable BTC on Bitcoin, to be delivered for DeFi across all of our partner chains.

Grateful to our investors @FalconXGlobal, @scottwalker99 (DNA Fund), @brockpierce (DNA Fund),… pic.twitter.com/4i0JVQlGkO

— BOS (@BTC_OS) October 22, 2025

Projects Under $10 Million

Limitless, $9 million in a Seed round
DepinSim, $8 million in a Strategic round
Nubila Network, $8 million in a Seed round
Pieverse, $7 million in a Strategic round
METYA, $6 million in an Unknown round
Turtle, $5.5 million in a Strategic round
Open Campus, $5 million in a Strategic round
TBook, $5 million in an Unknown round
ME3 (Gacha Galaxy), $3 million in an Unknown round
Loyal, $2.5 million in a Public sale with $5.24 million fully diluted valuation
Lit Protocol, $2.5 million in an Unknown round
Printr, $2 million in a Seed round
Rayls (Parfin), $1.75 million in a Public sale
Kinetiq, $1.75 million in a Seed round
dm fun (Metrica Labs), $1.5 million in a Public sale
Entry (ex Zekret Protocol), $1 million in a Pre-seed round
ZKLSOL (Zero Knowledge SOL), $969,420 in a Public sale with $2.5 million fully diluted valuation

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