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Amin Ayan

Crypto VC Funding Reaches $14.54B in November Driven by Naver's $10.3B Dunamu Deal

Crypto venture capital funding totaled $14.54 billion in November 2025, up 219% from October, with Naver's $10.3 billion all-stock acquisition of Dunamu accounting for most of the increase, data show. Deal volume dropped 28% to 57 transactions. Excluding the Naver-Dunamu transaction, DeFi captured 30.4% of deals and CeFi 12.5%, with Kalshi raising $1 billion and Ripple securing $500 million at a $40 billion valuation.