Top 10 Biggest Capital Deals in Crypto History

The crypto market has always been XEM one of the fastest growing investment sectors in the digital age. The innovations brought by cryptocurrencies are not only reshaping the way the financial world operates but also opening up unprecedented opportunities for startups and global investors.

After the COVID-19 pandemic, the wave of digital transformation and the shift of trust away from traditional financial systems has created a Capital fever in the Crypto market. According to data from defillama (as of June 16, 2024), Web3 projects have raised a total of more than 101.35 billion USD , an incredible number compared to only 17.14 million USD in May 2014. The explosive milestone fell in late 2021, early 2022, with hundreds of millions of USD deals continuously appearing.

Let's join Allinstation to check out 10 "billion-dollar" deals, proving the appeal and huge potential that Web3 brings through the article below!

10 biggest Capital deals in Crypto history

Figure – 1 billion USD (May 2019)

Sector: DeFi, traditional finance on blockchain

Main products: Asset lending, payments and transactions on blockchain platform

Highlights: Figure uses blockchain to reshape traditional financial services. The Capital from WSFS Bank and Jefferies is a testament to the confidence in the project's potential for practical applications.

Reasons for high valuation : Cutting-edge technology and innovative financial solutions have attracted attention from major investors such as WSFS Bank and Jefferies.

FTX – $900 million (July 2021)

Introduction: Once one of the largest Crypto exchange in the world (specifically 2nd place after Binance in 2021)

Products: FTX offers Derivative, spot trading, stablecoins, and an Non-Fungible Token marketplace.

Note: FTX is now bankrupt (November 2022), becoming one of the most shocking collapses in the Crypto industry.

Reason for high valuation : Invested 900 million USD in July 2021 from large funds such as Sequoia Capital, SoftBank, Paradigm, Tiger Global,... thanks to its large user base and ability to provide diverse services. Valuation at the time of Capital raising: 18 billion USD.

Forte ($725 million – November 2021)

Introduction: Forte is a blockchain-to-game integration platform, providing SDKs for developers to build Web3 game ecosystems.

Main products: Token Issuance, Non-Fungible Token trading in games, digital asset management in game ecosystem.

Impact: Forte aims to change the model of in-game asset ownership, promoting Play-to-Earn.

Reason for high valuation : With $725 million in Capital raised in November 2021, Forte attracted investment from Animoca Brands, Andreessen Horowitz, Sea Capital,... thanks to its great potential in the gaming and Non-Fungible Token industries.

Sorare ($680 million – September 2021)

Introduction: Fantasy Football platform on blockchain allows users to collect and play games with Non-Fungible Token cards representing real players.

Influence: Sorare has signed copyright contracts with more than 300 football clubs worldwide.

Sorare Website Reason for high valuation : Capital $680 million in September 2021 from SoftBank, Atomico, Benchmark, D1 Capital. Post- Capital valuation: $4.3 billion.

Riot Platforms ($559 million – February 2024)

Introduction: One of the largest Bitcoin mining companies in the US, listed on Nasdaq.

Products: BTC mining, data center infrastructure.

Highlights: Riot focuses on renewable energy and scaling mining to reduce the cost of producing 1 BTC.

Reason for high valuation : With the explosion of Bitcoin value, Riot Capital $559 million in February 2024, attracting investment thanks to its efficient mining capabilities.

MoonPay ($555 million – November 2021)

About: The leading fiat-to-crypto payment platform, making it easy for users to buy crypto with credit cards or Apple Pay.

Major Clients: OpenSea, Bitcoin.com, Binance, and hundreds of Non-Fungible Token projects.

Influence: An important bridge to bring traditional users to Crypto easily.

Reason for high valuation : Capital $555 million in November 2021 from Tiger Global, Coatue, Paradigm thanks to meeting global crypto payment needs.

Celsius Network ($400 million – October 2021)

Introduction: A Crypto lending and savings platform. Offering attractive interest rates for users depositing digital assets.

Investors: CDPQ (Canada), WestCap.

Note: Celsius filed for bankruptcy in July 2022 due to liquidation crunch, marking high risk in DeFi if governance is poor.

Reasons for high valuation : Capital $400 million in October 2021, the project has attracted investment from WestCap and CDPQ thanks to competitive interest rates and high security.

Improbable ($502 million – May 2017)

About: Technology company specializing in developing infrastructure for the metaverse and large-scale virtual reality simulations.

Flagship product: M² – Web3 infrastructure for interactive virtual worlds, multiplayer metaverse.

Impact: Expected to be the “AWS of the Metaverse”.

Reason for high valuation : With $502 million Capital in May 2017 from SoftBank Vision Fund, a16z (Andreessen Horowitz), Horizons Ventures, this project has great potential in metaverse and virtual reality applications.

Yuga Labs ($450 million – March 2022)

Introduction: The father of the popular Non-Fungible Token collection Bored Ape Yacht Club (BAYC), plays a leading Vai in the Web3 cultural movement.

Products: BAYC, MAYC, Otherdeed, Otherside (metaverse).

Reason for high valuation : Capital $450 million in March 2022 from a16z, Animoca Brands, Coinbase Ventures. Post- Capital valuation: $4 billion.

ConsenSys ($450 million – March 2022)

About: The leading software company in the Ethereum ecosystem – behind MetaMask, Infura, Truffle, and many Web3 development tools.

Impact: Plays a pivotal Vai in developing the infrastructure for Ethereum and the entire Web3 ecosystem.

Reason for high valuation : With $450 million Capital in March 2022 from ParaFi Capital, Microsoft, SoftBank Fund, ConsenSys makes a major contribution to Web3 development and the Ethereum ecosystem.

Summary

The Top 10 Largest Capital Deals in Crypto History clearly reflect the huge expectations of global investors on blockchain technology and Web3 applications. While many projects have been wildly successful, some have collapsed due to lack of transparency and operational mistakes. However, it is undeniable that Crypto continues to expand, attract new Capital , and constantly reshape the future of finance and technology.