Perena (SOL) Echo Launchpad Sale

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Enso (ENSO) CoinList Sale Concludes with $9.2M Raised

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Hana Network (HANA) TGE Sale (100% Unlocked)

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Pipe Network (PIPE) CoinList Sale on June 26

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Arcium (ARX) Upcoming Legion Launchpad Sale

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Infographic of top public token sales in June 2025 including Perena, Enso, and Hana.

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Key Takeaways

Minimalist illustration of June 2025’s top token sales.

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Several high-profile token sales closed June. Perena launched on Echo, Enso raised $9.2M with 100% unlocked tokens, and Hana sold at $0.04 (FDV $40M). Pipe raised ~$10M on CoinList, and Arcium plans a public sale via Legion. Demand remained strong.

YZi Labs (prev Binance Labs)

Anagram Crypto

Borderless Capital

Maelstrom

Polychain Capital

Multicoin Capital

Solana Ventures

Robot Ventures

Jordi Alexander

Top June 2025 Token Sales (Perena, Enso, Hana, Pipe, Arcium)

MassMutual Ventures is a multistage global venture capital firm investing in enterprise software, cybersecurity, financial technology, and digital health companies.

MassMutual Ventures

Matthew Tan

Guy Young

Rich Teo

Michael Ashby

Treehouse

Malta

YZi Labs is an investment firm formerly known as Binance Labs that invests in all stages of development in the fields of Web3, artificial intelligence (AI), and biotechnology.

United States of America

Lightspeed Venture Partners is a prominent venture capital firm recognized for its strategic investments in innovative and high-growth technology companies. Founded in 2000 by Chris Schaepe, Barry Eggers, Ravi Mhatre, and Peter Nieh, Lightspeed has played a pivotal role in shaping the success stories of numerous startups across various sectors.

Lightspeed Venture Partners

China

An investment company specialized in Blockchain sector. Up to now, they've invested over 100 blockchain projects in their portfolio. The most successful investments includes Coinbase, Binance, Canaan, etc.

Fundamental Labs

United Kingdom

Wintermute is a truly value adding investor dedicated to supporting the innovation in the blockchain ecosystem.

Wintermute

Jump Capital is a venture capital and growth equity firm that focuses on investing in technology-driven companies across various industries. With offices in Chicago and New York, Jump Capital has established itself as a strategic investor with a broad portfolio, encompassing sectors such as software, fintech, healthcare, and more.

Jump Capital

South Korea

Do Kwon is the Co-Founder and CEO of Terraform Labs (TFL)

Do Kwon

Hong Kong

Mirana Ventures is a leading global investment fund that provides long-term capital and strategic partnerships to visionary founders and fund managers in the Web3 space.

Mirana Ventures

Moonvault Capital

Virgin Islands (British)

Bybit is a global cryptocurrency derivatives exchange designed for all retail traders, professionals and investment institutions alike.

Bybit

CRC Capital

Germany

Global Founders Capital

GSR, founded in 2013, is a global leader in digital asset trading and market making.
GSR is a crypto market maker and ecosystem partner

GSR Markets (GSR)

LeadBlock Partners

Caladan (Alphalab)

Singapore

K3 Ventures

CoinHako

Pulsar is a leading algorithmic trading firm specialized in cryptocurrency trading and market making.

Pulsar Trading

Venturra is an Indonesia and Southeast Asia-focused venture capital firm that invests in early-stage, high-growth companies. The firm’s primary investment focus is on technology-enabled companies that aim to redefine industries.

Venturra Capital

The Brooker Group

Portofino Technologies

Berioza Associates

Compound Labs is a technology company building the infrastructure for the future of finance. Compound Labs brings paradigm-shifting technologies to market with a focus on security, capital efficiency, and radical transparency.

Compound Labs

Joe McCann

Philippines

Stepan Simkin

Karel Kubat

Bartosz Lipiński

Michael Heinrich

Robinson Burkey

Namik Muduroglu

Mats Olsen

SIONG

weremeow

Chris Heaney

Arcium

Jump Crypto, a division of the Jump Trading Group, is a global leader in Web3 infrastructure development and investment.

Jump Crypto

Moonrock Capital is a Blockchain Advisory and Investment Partnership based in London and Hamburg.

Moonrock Capital

Coinbase Ventures is the venture capital arm of Coinbase, one of the largest and most well-known cryptocurrency exchanges in the world. Coinbase Ventures is focused on investing in early-stage companies and projects in the blockchain and cryptocurrency space. It provides funding, resources, and support to startups and entrepreneurs working on innovative blockchain and crypto-related technologies and applications.

Coinbase Ventures

NGC Ventures is one of the largest institutional investors of blockchain technologies, and has been a key contributor to a number of leading projects.

NGC Ventures

LongHash Ventures is a global blockchain accelerator and VC fund.

LongHash Ventures

Big Brain Holdings Invests in Seed, Pre-Seed and Early Stage Startups

Big Brain Holdings

Santiago Roel Santos is the Partner at ParaFi Capital

Santiago Roel Santos

Equilibrium Capital is a global asset management platform

Equilibrium Capital

Anatoly is the creator of Solana. He led development of operating systems at Qualcomm, distributed systems at Mesosphere, and compression at Dropbox. He holds 2 patents for high performance Operating Systems protocols, was a core kernel developer for BREW which powered every CDMA flip phone (100m+ devices), and led development of tech that madeProject Tango (VR/AR) possible on Qualcomm phones.

Anatoly Yakovenko

Founded by guys with mixed backgrounds (banking, e-commerce, industry), then our team was joined by tech savvy. Capital markets were always our passion and we have vast experience in investing and trading different asset classes (stocks, futures, options, ETFs). In 2020 we got blown away by crypto and mainly by DeFi so we decided to enter the space full time. And we are planning to stick here for a while.

Token Ventures

We are a pre-seed/seed level investor to empower and support gifted entrepreneurs!

Cogitent Ventures

Staking Facilities Venture is a venture capital investment firm based in Munich, Germany. The firm employs an early-stage and seed-stage investment strategy and invests across the blockchain, financial services and information technology sectors.

Staking Facilities Ventures

Smape Capital

EverStake

Greenfield Capital

Keone Hon

Lucas Bruder

Mert Mumtaz

Heartcore Capital

Tristan Yver

L2 Iterative Ventures (L2IV)

macbrennan

Kenny Li

Austin Federa

Eugene Chen

Kash Dhanda

Akshay BD

Marc Tillement

Balaji S. Srinivasan is the CTO of Coinbase and cofounder of Counsyl, Earn, Teleport, and Coin Center. He was previously CEO at Earn.com, which was recently sold to Coinbase. Prior to taking the CEO role at Earn.com, Dr. Srinivasan was a General Partner at Andreessen Horowitz. Prior to joining a16z, he was the cofounder and CTO of FoundersFund-backed Counsyl, where he won the Wall Street Journal Innovation Award for Medicine and was named to the MIT TR35. Dr. Srinivasan holds a BS, MS, and PhD in Electrical Engineering and an MS in Chemical Engineering from Stanford University. He also teaches the occasional class at Stanford, including an online MOOC in 2013 which reached 250,000+ students worldwide.

Balaji Srinivasan

Bryan Pellegrino is the co-founder and CEO of LayerZero Labs, a blockchain company developing LayerZero, an interoperability protocol that enables seamless communication between different blockchains. This protocol is especially significant in the DeFi space, as it allows data and tokens to move across networks like Ethereum, Binance Smart Chain, and Solana.

Bryan Pellegrino

Alex Pack is a Founding Partner on the deal team at AngelList, the largest platform for early-stage tech investing in the world. Previously he was an investor with Arbor Ventures, an early-stage VC firm in Hong Kong, where he focused on opportunities in cross-border FinTech, EdTech, and blockchain technology.

Alexander Pack

Protocol Specialist at Bison Trails (acquired by Coinbase). Tweetsman. Actually helpful angel, specializing in protocols: layer 1, 2, interop, bridges, and defi

Viktor Bunin

Joshua Lim

Raj Gokal

Amy Wu

Paul Veradittakit

Henri Stern

Shiliang Tang

Paul Kim

Marc Boiron

Aadil Mamujee

Smokey The Bera

Roshun Patel

ZAGABOND

Vijay Chetty

Rob Hadick

Aaron Harris

Jeff Feng

Yu Hu

Evgeny Gaevoy

Max Power

Eugene Shen

fomo

Delphi Digital is a dynamic research-driven firm at the intersection of blockchain technology and traditional finance. Founded by a team of seasoned professionals, the firm is committed to providing cutting-edge insights and strategic analysis in the rapidly evolving digital asset space.

Delphi Digital (Delphi Labs)

Lemniscap is an investment firm specializing in investments in emerging cryptoassets and blockchain companies

Lemniscap

Collab+Currency is an early stage venture investor focusing on web3

Collab+Currency

Colombia

Lattice Capital helps portfolio grow by providing structure & experience to the small business development through incubation & investment.

Lattice Capital

Geoff Renaud

Pulse

Tristan

The Spartan Group primarily focuses on investments in digital assets, cryptocurrencies, and blockchain-related projects. They actively manage a portfolio of various cryptocurrencies, including Bitcoin and Ethereum, as well as other tokens and blockchain assets.

The Spartan Group

Selini is a global trading firm focused on systematic trading, liquidity provision, efficient execution, and venture investing—all within the digital assets space.

Selini Capital

Arthur Hayes, Co-Founder of BitMEX & CIO of Maelstromfund.

Arthur Hayes

Managed by the family office of Arthur Hayes (co-founder, BitMEX), Maelstrom is building a long-term portfolio of infrastructure companies that will serve as the foundation of the next wave of trustless decentralization.

ABCDE Capital

Presto Labs

Auros is an algorithmic trading and market making firm that delivers best-in-class liquidity for exchanges and token projects.

Auros Global

Aptos

Web3Port

Sats Ventures

Movement

Squared Ventures combines broad reach with targeted incubation and operations to fill market gaps. Squared Ventures' service companies offer a wide range of professional services to financial institutions, enterprises, and startups.

Squared Ventures

Echo Protocol

Hack VC is a web3 venture capital firm. Hack VC partners with online and offline hackers who are building the future of the internet.

Hack VC

Australia

Nick Chong is a crypto-native investor focused on decentralized finance.

Nick Chong

Michael Egorov is the Founder & CEO at Curve Finance.Michael is a physicist and scientist from the Moscow Institute of Physics and Technology. A bronze medalist in the 2003 International Physics Olympiad, he studied ultra-cold atoms as a post-doc.

			Stage	Investors
Treehouse	--	$400.00 M	Funding Round	+3	--	--	Apr 15, 2025
Arcium	$1.00 M	~$10.00 M	Angel	+9		--	Mar 27, 2025
fomo	$2.00 M	~$20.00 M	Angel	+23		DeFi	Feb 18, 2025
PULSE Pulse	$1.80 M	~$18.00 M	Pre-seed	+6		Healthcare	Nov 14, 2024
ECHO Echo Protocol	--	--	Pre-seed	+10		Liquid Staking Protocols	Oct 21, 2024
INIT Initia	$14.00 M	$350.00 M	Series A	+8		Blockchain	Sep 25, 2024
Infinex	$65.29 M	~$652.90 M	NFT Sale	+39		DEX	Sep 20, 2024
Ammalgam	$2.50 M	~$25.00 M	Seed Round	+8		DeFi	Sep 10, 2024
OpenSocial	$6.00 M	~$60.00 M	Strategic Round	+11	--	Social	Jul 25, 2024
Nuffle Labs	$13.00 M	~$130.00 M	Funding Round	+12		Infrastructure	Jun 13, 2024
USUAL Usual	$7.00 M	$75.00 M	Strategic Round	+21		RWA (Real World Assets)	Apr 17, 2024
BICO Biconomy	--	--	Strategic Round	+6		DeFi	Mar 28, 2024
Munchables	--	--	Pre-seed Round	+11		Gaming	Mar 13, 2024

Jordi Alexander

About Jordi Alexander

Investments Allocation

Fundraising Rounds