The number of crypto fundraising rounds dropped 45.9% compared to Q1 2025 — from 410 to just 222 rounds.
Yet disclosed capital fell only 8.5% ($7.45B → $6.81B).
Key numbers for Q1 2026:
— $6.81B raised across 222 rounds (VC + M&A)
— Average VC deal size up 76.4% vs Q1 2025
— March alone = 65% of all Q1 capital
— Top 3 deals: BVNK $1.8B, Kalshi $1.0B, Polymarket $600M
— Most active investor: Coinbase Ventures (12 deals)
— Leading sectors: Payment (35%) and Prediction Markets (25%)