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Today's News Recap
Claims Climb - US court approves 3AC's bid to expand FTX claim to $1.5B, FTX argues reorganization plan at risk.
Critical vs Critics - Senate advances critical stablecoin bill despite Democrat reservations over money laundering and Big Tech.
Expect Delays - Ethereum delays Pectra upgrade to conduct third testnet 'Hoodi'.
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Fundraising Friday
Binance bags $2.0 billion, AI and DeFi lead March’s fundraising wave
By: Gunkan
Even with shaky crypto markets and an uncertain macro-environment, March’s crypto fundraising landscape keeps on rolling, with Binance leading the charge. The exchange just secured a $2.0 billion investment from MGX, an Abu Dhabi-based investment firm making its first-ever crypto exchange bet—and it did so entirely in stablecoins.
The investment underscores Binance’s deep ties to Abu Dhabi—the company employs over 1,000 people in Dubai and operates Binance FZE, its Dubai-based subsidiary, which holds a Virtual Asset Service Provider (VASP) license in the region.
Beyond Binance, DeFi and AI are leading the funding race in March, with 13 DeFi deals and 7 AI deals so far.
The biggest non-Binance raises came from three players making waves:
Metaplanet is a publicly traded Japanese firm. Metaplanet was initially focused on real estate and consulting, but it seems they are following the Microstrategy playbook, as they are doubling down on Bitcoin as their main treasury asset.
One of the largest crypto mining hardware firms just raised nine figures in March. With Bitcoin mining difficulty at record highs, hardware expansion is ramping up.
A no-API crypto payments infrastructure play, Mesh is tackling transfer friction across wallets and exchanges. With big players like Paradigm, ConsenSys, and Yolo Investments backing it, expect deeper integration into DeFi and neobanks.
The Takeaway?
Early March fundraising suggests a few key trends:
Binance’s $2B raise could set a precedent. Will more institutional capital follow?
DeFi remains resilient, attracting funding despite broader market weakness.
AI + Crypto is still in play, though investor enthusiasm has cooled compared to its peak.
With half the month still ahead, it’ll be worth watching whether these trends hold. The macro-environment remains uncertain, but one thing is clear—funding isn’t drying up just yet.
