Crypto VC funding fell to $659M in April, hitting a 2024 low
Crypto venture capitalist (VC) funding has hit a nearly two-year low as investors pull back from crypto startups and early-stage companies.
Crypto VC funding fell to $659 million in 63 funding rounds in April, according to CryptoRank data. This brings total current investments to $5.64 billion by 2026.
April's total was the lowest monthly fundraising total since July 2024, when crypto projects raised $622 million in 132 rounds.
As crypto markets remain under pressure for months due to poor liquidity and appetite for risk, commercial investors are becoming more selective.
Monthly VC funding has been on the decline since October 2025, when crypto projects raised $3.84 billion in 127 funding rounds. According to CoinGlass data, the value of the global crypto market has fallen by 37%.
Crypto Fundraising, USD, Three Year Chart. Source: Cryptorank
According to CryptoRank, decentralized finance (DeFi) protocols attracted the most deal activity in April with 12 funding rounds. Crypto projects related to blockchain services and artificial intelligence followed eight rounds each.
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GSR emerges as the most active investor of the month.
Crypto market maker GSR's VC wing has been the most active investor in the past month, with four investment rounds, a $3.5 million seed round in DeFi protocol LegendTrade on Wednesday, a $4 million seed round in DeFi Protocol 3F on April 23, a $1 million pre-seed round in Enhanced Finance on April 9 and an investment in Literabe Protocol announced. April 8.
Zurich-based digital asset-focused investment manager L1 Digital (L1D) was second in three investments, including a $5 million seed round in crypto exchange Exponent on Thursday, an $18 million strategic investment in infrastructure providers on Wednesday, and a $7.5 million Series A investment in blockchain services company Oh April 8.
Most active investors are in agreement for April, 2026. Source: Cryptorank
Y Combinator, Tether, Animoca Brands, landScape Capital, Coinbase Ventures and Kosmos Ventures participated in three deals each during the month.
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