Crypto VC Explodes in Q4 2025: $8.5B Floods Later-Stage Startups

Crypto and blockchain venture capital witnessed a sharp rebound in Q4 2025, driven predominantly by large late-stage deals. Galaxy Digital’s report, authored by Alex Thorn, Head of Firmwide Research, found that venture capitalists deployed $8.5 billion across 425 deals in the quarter – an 84% increase in capital invested and a 2.6% rise in deal count compared to Q3 2025.

This represents the strongest quarterly investment in the sector since Q2 2022, although deal counts remain well below 2021-2022 levels.