Crypto VC deals fall to 2025 low as M&As rise to $2.9B high

Cryptocurrency investment deals fell to their lowest point of 2025, as analysts cited a mix of market-specific and macroeconomic factors behind weakening venture capital (VC) activity.

Only 62 rounds were completed in May, a monthly low last seen in January 2021, according to data from crypto analytics platform RootData.

Despite the drop, the 62 investment rounds still raised more than $909 million, making it the second-best month of the year by value, trailing only March’s $2.89 billion across 78 rounds

The slowdown is likely a “combination of…