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Largest Crypto & Blockchain Unicorns in 2025 by Valuation & Venture Capital Raised

Biggest Cryptocurrency & Blockchain Unicorn Companies in the World

The crypto VC landscape mirrors the broader crypto and blockchain space, marked by volatility and rapid innovation. Over the last decade, it has undergone several distinct phases. Investing in crypto has been painful this year, but the sector is moving forward in several important ways. The crypto fundraising landscape is showing signs of recovery. In the last year, we’ve been in the same cycle in terms of sentiment, increasing capital going into the space and more developers coming and building.

According to Beinsure Data, 90 crypto & blockchain unicorn starups (>$1 bn) raised up to 2025 more than $30.2 bn venture capital with cumulative valuation ~$352 bn.

Fundraising trends have mirrored these cycles, with peaks observed in 2014, 2018, and 2022. If these historical trends continue, we anticipate another fundraising peak in 2026, aligning with the next expected major cycle in the crypto market.

After the initial-coin-offering boom in 2017, there was a recalibration where investors became more selective. A new growth cycle began in 2020, fueled by decentralized finance (DeFi) and increasing institutional interest. This led to record-breaking fundraising levels in 2021 and 2022, as the crypto ecosystem matured, especially in infrastructure development.

The crypto VC landscape has seen major fluctuations in recent years. In 2022, fundraising hit a record high at $23.7 bn, nearly doubling 2021’s total. But in 2023, it plunged by 89%, dropping to $2.6 bn.

Despite the downturn, the median fund size grew by 65.1% in 2024, reaching $41.3 mn. Midsized funds, ranging between $100 mn and $500 mn, have become more prominent, offering the flexibility needed to navigate current market challenges without the burdens of managing megafunds.

The Q4 2024 saw a stable overall level of investment, but many signs pointed to a decrease in venture capital inflows were on the way. Beinsure Media presents a Ranking of the top biggest crypto unicorns in the world by valuation for 2024.

Top 10 Crypto Companies by Venture Capital Raised in 2024

This Crypto Companies Ranking provides an overview of major players in the cryptocurrency sector, showcasing their market valuations as of 2025. The valuations reflect the significant role these companies play in the crypto ecosystem, spanning exchanges, lending platforms, and decentralized finance (DeFi) solutions.

90 Biggest Crypto Unicorns in the World by Valuation in 2025

Crypto UnicornsCountryValuation, $ bnVC raised, $ mn
1RevolutUK45,01 800
2BITMAINCN15,0765
3RippleUS15,0325
4OpenSeaUS13,3423
5KrakenUS10,8112
6AlchemyUS10,5414
7NEARUS10,0355
8KuCoinSYC10,0180
9Digital Currency GroupUS10,0
10ChainalysisUS8,6537
11StarkWareISR8,0262
12FireblocksUS8,01 000
13FalconXUS8,0427
14CircleUS7,71 100
15Dapper LabsCA7,6643
16GeminiUS7,1400
17New York Digital Investment GroupUS7,01 400
18ConsenSysUS7,0733
19Ava LabsUS5,3356
20Blockchain.comUK5,01 200
21Binance USUS4,5217
22SorareFR4,3775
23BitpandaAT4,1589
24Yuga LabsUS4,0450
25CelestiaLI3,5158
26MoonPayUS3,4555
27BlockdaemonUS3,4494
28AutographUS3,2205
29Amber GroupSG3,0630
30Monad LabsUS3,0244
31Anchorage DigitalUS3,0487
32LayerZeroCA3,0263
33ImmutableAU2,5286
34BlockstreamCA2,5600
35WorldCoinUS2,5240
36PaxosUS2,4535
37Aptos LabsUS2,4410
381inchVGB2,3190
39Story ProtocolUS2,3164
40BitsoMEX2,2332
41CurrentUS2,2611
42CoinDCXIN2,1250
43Copper.coCH2,1329
44DFINITYCH2,0102
45AMINACH2,0246
46Mysten LabsUS2,0342
47LootMogulUS2,0211
48CertiKUS2,0300
49Sky MavisSG1,9170
50CoinSwitchIN1,9302
51ScrollSYC1,880
52BitGoUS1,8188
53UniswapUS1,7178
54Limit BreakUS1,7190
55OptimismUS1,6179
56CoinListUS1,6119
57Magic EdenUS1,6193
58MatrixportSG1,5167
59Enya LabsUS1,548
60LedgerFR1,4578
61FigmentCA1,4165
62ConcordiumCH1,446
63TalosUS1,3151
64BettermentUS1,3435
65LukkaUS1,3261
66CoinTrackerUS1,3104
67iTrustCapitalUS1,3125
68Hashkey GroupHK1,3100
69Nova LabsUS1,3251
70Zyber 365UK1,2100
71Offchain LabsUS1,2144
72PhantomUS1,2118
73QuantstampUS1,1147
74EigenLayerUS1,1165
75Sentz GlobalUS1,1114
76VNLIFEVIE1,0550
77Polyhedra NetworkSG1,045
78Dune AnalyticsNOR1,079
79io netUS1,035
80BitFuryNL1,0140
81BitgetZA1,030
82Humanity ProtocolUS1,030
83Andalusia LabsUS1,051
84InjectiveUS1,053
85FarcasterUS1,0180
86GauntletUS1,045
87Unstoppable DomainsUS1,070
88ForteUS1,0952
89Mythical GamesUS1,0320
90FlashbotsKY1,062
90AxelarCA1,064
Source: Beinsure.com by PitchBook Data

Leading crypto unicorns globally

This list highlights the leading crypto unicorns globally, showcasing their valuations and brief descriptions of their operations and services.

The cryptocurrency industry continues to expand rapidly, attracting substantial investments and reaching new heights in valuation. The cryptocurrency and blockchain has witnessed growth in 2025, driven by substantial venture capital investments

Emerging managers continue to lead the crypto VC space, capitalizing on their specialized expertise in areas like “tokenomics” and governance. However, first-time funds have dropped from 58% in 2020 to 45.8% in 2024, indicating a more cautious approach to market entry.

Fundraising timelines have extended, reflecting growing caution among investors. Both the time between raises and the duration to close funds have lengthened, suggesting a challenging future for fundraising. LPs are becoming more selective and risk-averse due to recent market downturns.

90 Largest Crypto Unicorns by Venture Capital Raised up to 2025

CompanyCountryVC raised, $ mnValuation, $ bn
1RobinhoodUSA5 60032,0
2RevolutUK1 80045,0
3New York Digital Investment GroupUS1 4007,0
4Blockchain comUK1 2005,0
5CircleUS1 1007,7
6FireblocksUS1 0008,0
7ForteUS9521,0
8SorareFR7754,3
9BITMAINCN76515,0
10ConsenSysUS7337,0
11Dapper LabsCA6437,6
12Amber GroupSG6303,0
13CurrentUS6112,2
14BlockstreamCA6002,5
15BitpandaAT5894,1
16LedgerFR5781,4
17MoonPayUS5553,4
18VNLIFEVIE5501,0
19ChainalysisUS5378,6
20PaxosUS5352,4
21BlockdaemonUS4943,4
22Anchorage DigitalUS4873,0
23Yuga LabsUS4504,0
24BettermentUS4351,3
25FalconXUS4278,0
26OpenSeaUS42313,3
27AlchemyUS41410,5
28Aptos LabsUS4102,4
29GeminiUS4007,1
30Ava LabsUS3565,3
31NEARUS35510,0
32Mysten LabsUS3422,0
33BitsoMEX3322,2
34Copper coCH3292,1
35RippleUS32515,0
36Mythical GamesUS3201,0
37CoinSwitchIN3021,9
38CertiKUS3002,0
39ImmutableAU2862,5
40LayerZeroCA2633,0
41StarkWareISR2628,0
42LukkaUS2611,3
43Nova LabsUS2511,3
44CoinDCXIN2502,1
45AMINACH2462,0
46Monad LabsUS2443,0
47WorldCoinUS2402,5
48Binance USUS2174,5
49LootMogulUS2112,0
50AutographUS2053,2
51Magic EdenUS1931,6
52Limit BreakUS1901,7
531inchVGB1902,3
54BitGoUS1881,8
55KuCoinSYC18010,0
56FarcasterUS1801,0
57OptimismUS1791,6
58UniswapUS1781,7
59Sky MavisSG1701,9
60MatrixportSG1671,5
61FigmentCA1651,4
62EigenLayerUS1651,1
63Story ProtocolUS1642,3
64CelestiaLI1583,5
65TalosUS1511,3
66QuantstampUS1471,1
67Offchain LabsUS1441,2
68BitFuryNL1401,0
69iTrustCapitalUS1251,3
70CoinListUS1191,6
71PhantomUS1181,2
72Sentz GlobalUS1141,1
73KrakenUS11210,8
74CoinTrackerUS1041,3
75DFINITYCH1022,0
76Zyber 365UK1001,2
77Hashkey GroupHK1001,3
78ScrollSYC801,8
79Dune AnalyticsNOR791,0
80Unstoppable DomainsUS701,0
81AxelarCA641,0
82FlashbotsKY621,0
83InjectiveUS531,0
84Andalusia LabsUS511,0
85Enya LabsUS481,5
86ConcordiumCH461,4
87Polyhedra NetworkSG451,0
88GauntletUS451,0
89io netUS351,0
90Humanity ProtocolUS301,0
90BitgetZA301,0
Source: Beinsure.com by PitchBook Data

This table highlights the substantial venture capital investments driving the growth and innovation within the cryptocurrency and blockchain industry.

The fundraising environment will remain difficult as the market continues to recover. Some fund managers may need to liquidate token holdings at lower values.

Without substantial returns to LPs, seasoned crypto investors are expected to maintain a cautious stance, while newer LPs may be drawn to trending sectors like restaking or the intersection of crypto and AI.

Reflecting on venture capital activity, while it hasn’t returned to the peak levels of 2022, the landscape is looking better compared to last year. As of July 30, 2024, $2.2 bn has been raised across 24 funds, putting it on track to surpass 2023’s total.

Median and average time between crypto VC funds

Median and average time between crypto VC funds
Source: PitchBook

From 2021 to 2024, the time between fundraises has steadily increased, with the median time between funds more than doubling from 1.1 years to 2.4 years. This lengthening period suggests that fund managers are taking longer to return to market, likely due to spending more time with their portfolios and deploying capital much slower during the crypto bear market.

FAQ: Crypto Venture Capital Landscape Insights

How has the crypto VC landscape evolved over the last decade?

The crypto VC landscape has undergone distinct phases, marked by peaks in 2014, 2018, and 2022. The initial coin offering boom in 2017 led to recalibration and selective investments. A new growth cycle began in 2020, driven by decentralized finance (DeFi) and institutional interest, culminating in record-breaking fundraising in 2021 and 2022.

What were the highlights of crypto fundraising trends in recent years?

Fundraising hit a record high of $23.7 bn in 2022, nearly doubling 2021’s total. However, it plunged by 89% to $2.6 bn in 2023. Despite this, the median fund size grew by 65.1% in 2024, reaching $41.3 mn, with midsized funds gaining prominence.

What is the current outlook for the crypto fundraising environment?

Fundraising timelines have lengthened, with the median time between funds increasing from 1.1 years in 2021 to 2.4 years in 2024. Managers are deploying capital more slowly and spending more time with their portfolios, reflecting a cautious approach in the crypto bear market.

What are the leading crypto unicorns by valuation and VC raised as of 2025?

According to Beinsure, Revolut leads with a $45 bn valuation and $1.8 bn VC raised. Other top unicorns include BITMAIN ($15 bn valuation, $765 mn VC raised) and Ripple ($15 bn valuation, $325 mn VC raised).

How has institutional interest shaped the crypto VC space?

Institutional interest has driven growth in infrastructure development and DeFi, resulting in significant fundraising cycles. However, investors have become more cautious, leading to extended fundraising timelines and a focus on midsized funds for flexibility.

What trends are emerging among crypto fund managers and LPs?

Emerging managers dominate the space, leveraging expertise in areas like tokenomics and governance. However, first-time funds have dropped from 58% in 2020 to 45.8% in 2024, reflecting a cautious stance among LPs due to market volatility and downturns.

How is the market recovery influencing venture capital activity?

Venture capital activity is gradually improving, with $2.2 bn raised across 24 funds as of July 30, 2024. This puts the market on track to surpass 2023’s total, showing signs of recovery despite a challenging fundraising environment.

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Edited & Fact-checked by Oleg Parashchak – CEO Finance Media & Editor-in-Chief at Beinsure Media and Insurance TOP Ratings (24+ years of professional experience in Rankings, Insurance & Media).