Crypto Valley funding hits new highs in 2025 as valuations dip

Crypto Valley funding surged to a record in 2025 even as the market cooled. CV VC’s 《Crypto Valley Top 50》 report says Switzerland raised $728m across 31 blockchain venture deals—5% of global funding and 47% of Europe’s total. Crypto Valley funding growth was clear, but risk appetite showed signs of restraint. Overall blockchain venture funding rose 30% to $15.5bn across 986 deals worldwide, while deal count fell (a “fewer bigger rounds” pattern). In Crypto Valley, the amount rose 37% (from $531m in 2024 to $728m in 2025), yet the combined valuation of the report’s Top 50 (25 public token entities + 25 private companies) fell 21.3% to $593.4bn. Active blockchain companies jumped 134% to 1,766, but new incorporation slowed 32%. Deal concentration was extreme: The Open Network (TON) alone accounted for $400m of the $728m total. Other notable rounds included Sygnum Bank ($58m), stablecoin platform M0 ($40m), Impossible Cloud Network ($34m), and CratD2C ($30m). CV VC attributes Switzerland’s pull to a shift toward a high-standards digital finance hub focused on security, legality, and institutional credibility. The report links the valuation drop and slower startup formation to weaker digital-asset prices and broader geopolitical uncertainty, implying a temporary slowdown rather than a long-term collapse in interest. BTC fell from above $125,000 (Oct 2025) to around $74,000 by April 16. For traders, Crypto Valley funding signals ongoing capital formation, but the valuation and incorporation slowdown suggests selective risk-taking. Expect cautious positioning in parts of the crypto tech sector, alongside pockets of strength where mega-rounds concentrate.