Crypto VC financing: IREN’s $550m convertible offering, Hypernative’s $40m raise

Crypto funding surged to almost $709 million during the week of June 8-14, 2025, with a huge $550 million private placement by IREN leading the charge. Venture capital activity remained robust across the sector, particularly in infrastructure.

Crypto financing rose to almost $709 million during the week of June 8-14, 2025, with a huge $550 million private placement by IREN leading the charge. Equity capital activity stayed robust across the sector, particularly in infrastructure, with financing rounds covering from pre-seed to Series B. Startups like Hypernative, Yupp, Turnkey, and OneBalance also drew significant investments, reflecting sustained investor confidence in crypto facilities and application-layer development regardless of more comprehensive market volatility. Here’s what we tracked, using information from Cryptofundraising:

IREN (ex Iris Energy) Raised $550 million through personal positioning of convertible senior notes. IREN has raised $863 million up until now. $IREN is delighted to reveal the closing of its upsized $550m convertible notes offering. Key information of the deal:
– Oversubscribed and upsized from $450m to $500m, plus $50m greenshoe.
– Net profits of approximately $534.9 million.
– 3.50% discount coupon, 30% conversion premium.
– No … Read more

Hypernative Secured $40 million in a Series B round. The investment was backed by TenEleven, Ballistic Ventures, and Stepstone. Hypernative has raised $65 million so far. Big news! As reported by @axios: Hypernative has raised a $40M Series B round to eliminate the most significant blocker to Web3 mass adoption– security. Co-led by @ 1011vc and Ballistic Ventures, with participation from @stepstonegroup, and existing investors @Boldstartvc and IBI Tech Fund… Read more

Yupp raised $33 million in a Seed round. Investors include a16z crypto, Coinbase Ventures, and Kunal Shah. Turnkey Gathered $30 million in a Series B round. The investment was backed by Bain Capital Crypto, Sequoia, and Lightspeed Faction. Turnkey has raised $52.5 million so far. Big news: We have raised a $30M Series B led by @BainCapCrypto to power innovation in crypto!… Read more

Noah raised $22 million in a Seed round. Investors include LocalGlobe, Felix Capital, and FJ Labs. OneBalance Secured $20 million in a Series A round. Backed by Cyber Fund, Blockchain Capital, and Mirana Ventures. OneBalance has raised $25 million so far. We’re excited to reveal our $20m Venture Round co-led by @cyberFund_ and @blockchaincap with participation from @mirana and @l2iterative, bringing our total funding to $25m. We’re also releasing the easiest and most trusted way to get your users onchain with our Toolkit!… Read more

Tasks < $11 Million TYB (Attempt Your Best); $11 million in a Series A round. OpenTrade; $7 million in an Unknown round. NuConstruct; $6 million in a Seed round. Quickly (Solana Optimistic Network); $5 million in an unknown round. Rise Labs; $4 million in a Strategic round. Orange Cap Games (Vibes); $3.5 million in a Seed round. Towns Protocol; $3.3 million in a Public sale. Shape; $3 million in a Pre-seed round. Hey Anon; $144,000 in an unknown round.