Seventy-seven crypto companies raised over $3.3 billion in September, according to DefiLlama data.
That brings the total funding for crypto companies to over $17 billion so far in 2025, outpacing 2024’s total by over $7 billion.
And analysts say investment in the space is only accelerating.
PitchBook predicts that the industry will raise $18 billion this year.
Investors from Galaxy Ventures and Codebase expect it to go even higher and that investors will plough over $25 billion into the industry in 2025.
Here are the crypto companies that raised the most money in September.
Figure Technology, $787.5 million
Blockchain lender Figure Technology pulled off one of the year’s biggest crypto-linked floats, raising $787.5 million in its Nasdaq debut valuing the company at about $5.3 billion.
Founded in 2018 by former SoFi chief Mike Cagney, Figure builds blockchain infrastructure to power loans and exchanges. It has already funded more than $16 billion in loans and is expanding into crypto-backed lending and digital asset trading.
Superstar investors including legendary trader Stanley Druckenmiller’s Duquesne Family Office have lined up for the offering.