During the 2025 crypto winter, projects with strong fundamentals and real-world utility secured funding. Notable examples include Kalshi ($185M Series C for a prediction market), Bit Digital ($150M for Bitcoin mining), Canton Network ($135M for institutional blockchain), and Zama ($57M for privacy-focused FHE solutions). DeFi, infrastructure, and AI-driven projects also attracted significant VC interest due to their scalability and innovation.[](https://crypto.news/crypto-vc-funding-startups-raise-million-17-deals/)

Sources:
- https://crypto.news/crypto-vc-funding-startups-raise-739-5m-across-17-deals/
- https://cryptoslate.com/crypto-funding-hits-4-9b-in-q1-2025-with-us-firms-leading-the-charge/