Tom Couture ^AC

Private Market Remains Hot

November Recap Despite liquid token prices suffering steep drawdowns over the past two months, the private market has remained extremely strong. There was a total of $1.4 billion in funding across 57 deals in November. This was the third consecutive month with more than $1 billion in funding, marking the…

Futarchy Proving Successful

October Recap October set another 2025 record in monthly funding, totaling $1.78 billion across 109 deals. The large total was fueled by the two largest deals of the year: a $500 million Series A round completed by Tempo, and a $300 million undisclosed round from Kalshi. Infrastructure was the leading…

The Agentic Economy: Where Crypto Meets AI

Virtuals Protocol – Growing Agentic GDP

Click HERE for the full report. Key Slides From This Report: Artificial Intelligence is Everywhere Agents Are Changing the AI Stack Communication Remains a Limiting Factor Virtuals Protocol – Stripe for AI Agents Virtuals’ Agents Span All Sectors Virtuals’ Agent Commerce Protocol Virtuals is The Only Full-Lifecycle A2A Protocol Virtuals…

Blockchain Redefining Wholesale Payments

September Recap Q3 ended on a strong note with September representing the highest monthly funding of the year at $1.38 billion across 77 deals. Quarterly funding totals have been on an upward trend since Q4 of last year, with this quarter marking the highest quarterly amount since Q1 2023. Optimism…

Prediction Markets Repricing

August Recap Although funding fell approximately 15% from July’s total, August funding remained strong, totaling $820 million across 92 deals. Year-to-date funding is significantly ahead of 2024’s pace, reaching $7.5 billion thus far compared to $8.5 billion for all of 2024. August’s funding was heavily concentrated in Infrastructure, DeFi, and…

Stablecoins In Focus

July Recap Funding continues to impress, totaling $1.1 billion across 88 deals. July represents the second consecutive month with over $1 billion in funding and the fourth in 2025, compared to just one in 2024. Infrastructure made up about half of total funding and deal count, including our Deal of…

Private Markets Heating Up

June Recap June was another good month for crypto funding, with $1.2 billion in total funding across 84 deals, representing a 108% MoM increase, while deal count was relatively flat with a 3.7% increase. June was the second month in 2025 to have over $1 billion in funding, topping April’s…

Payments Shine as Funding Cools

May Recap After April saw a multi-year high in monthly funding, May’s total funding cooled significantly to $553 million, while deal count held relatively steady at 77 deals. Despite lower funding, stablecoin/payments related companies were a bright spot in May, with companies such as Plasma (DotM), Conduit, and Beam all…

Highest Monthly Funding Since 2022

April Recap Monthly funding rose 31% from $840 million in March to $1.1 billion in April despite the deal count falling 25% from 106 to 80. April represented the highest monthly funding total going back to November 2022, helped by two nine-figure deals from Auradine and ZenMEV, representing about 27%…