May 2026 Crypto Fundraising: $3.52B Raised in 83 VC Rounds, $5.55B in M&A
In May 2026, the crypto sector recorded $3.52B raised across 83 VC rounds, alongside $5.55B of M&A value led by Bullish's $4.2B acquisition of Equiniti. Late-stage and strategic financings accounted for $3.10B (about 88% of VC capital), highlighted by Kalshi's $1.2B Series F and a $670M strategic stake in Dunamu. Investor participation also rebounded to 255 unique backers during the month.