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 raising capital. Infrastructure accounted for nearly three-quarters of total funding and about half of all deals. DeFi was the second leading category, totaling $88 millio...

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