- The overall amount raised in April was the lowest monthly total for crypto projects since July 2024.
- Since October 2025, when 127 investment rounds totaling $3.84 billion were closed by crypto companies, monthly venture capital spending has been steadily decreasing.
In April, investors withdrew their money from crypto start-ups and early-stage enterprises, causing venture capitalist funding to plummet to a level not seen in almost two years.
When compared to March, when 84 rounds of investment totaled $2.6 billion, April’s total of $659 million represents a 74% decline, according to statistics compiled by Cryptorank. Investments of $5.64 billion have been made so far in 2026.
Effects of Market Slowdown
The overall amount raised in April was the lowest monthly total for crypto projects since July 2024, when 132 rounds totaling $622 million were completed. Crypto markets have been under pressure for months due to decreased liquidity and risk appetite, and the decline in investment means venture capitalists have become more picky.
Since October 2025, when 127 investment rounds totaling $3.84 billion were closed by crypto companies, monthly venture capital spending has been steadily decreasing. Data from CoinGlass shows that the global crypto market cap has dropped by 37% since then.
There were 12 financing rounds in April for decentralized finance (DeFi) protocols, making them the most active according to CryptoRank. Next came blockchain services and crypto projects tied to artificial intelligence, each of which had eight rounds.
On April 23, GSR’s crypto market wing invested $3.5 million in DeFi protocol Legend Trade, on April 23, $4 million in DeFi protocol 3F, $1 million in Enhanced Finance, on April 9, and an undisclosed investment in Libeara, a real-world asset tokenization protocol, on April 8. GSR’s VC wing was the most active investor of the past month.
Two investments—a $5 million seed round in cryptocurrency exchange Exponent on Thursday and a $18 million strategic investment in infrastructure provider Squads on Wednesday—put Zurich-based digital asset-focused investment manager L1 Digital (L1D) in second place. Also, a blockchain services company, received a $7.5 million Series A investment on April 8.
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