While May saw a relative slowdown in crypto venture capital activity, strategic investments in Bitcoin treasury management and asset tokenization platforms revealed shifting priorities among institutional investors.

Twenty One Capital's $685M War Chest

Twenty One Capital, the Bitcoin treasury management firm backed by Tether, Bitfinex and Cantor Fitzgerald, confirmed an additional $100 million investment through convertible notes this Wednesday. This brings total funding to 【$685 million】 as the company prepares to implement proof-of-reserves verification for its BTC holdings.

——"Our public ledger will set new transparency standards for institutional Bitcoin custody," stated CEO Jack Mallers during the funding announcement——. The move follows the company's emergence from stealth mode last month with plans to acquire billions in Bitcoin.

DePIN Innovation Attracts Early-Stage Funding

Decentralized computing platform aZen secured 【$1.2 million】 in seed funding led by Waterdrip Capital, with participation from DWF Ventures and others. The startup addresses AI chip shortages through decentralized physical infrastructure networks (DePIN), already attracting over 500,000 testnet users.

Interestingly, the funding coincides with growing US-China trade tensions that have disrupted traditional semiconductor supply chains. aZen's solution leverages idle computing resources globally—a model gaining traction amid the AI boom.

Institutional Tokenization Gains Momentum

Jump Crypto's undisclosed investment in Securitize marks another milestone for tokenized assets, coming months after BlackRock's 【$47 million】 commitment. The platform currently manages 【$4 billion】 in onchain assets, including nearly $3 billion in BlackRock's BUIDL fund.

Meanwhile, UK-based Savea raised 【$2.5 million】 to tokenize luxury assets like fine wine and vintage cars. The funding round led by EmergentX will expand its ERC-20 SAVW tokens backed by physical reserves—a niche gaining popularity among alternative investors.

Wallet Innovation Targets Mainstream Adoption

Hyperliquid-powered wallet Dexari closed a 【$2.3 million】 seed round co-led by Prelude and Lemniscap. The self-custodial solution combines trading functionality with simplified UX—addressing what investors call crypto's "complexity barrier."

Remarkably, the funding comes just six months after Hyperliquid's launch, demonstrating continued appetite for infrastructure plays despite the broader VC cooldown. Dexari plans app store launches later this year, potentially reaching millions of retail users.

As of press time, these deals suggest institutional capital is flowing toward three key areas: Bitcoin treasury solutions, real-world asset tokenization, and consumer-facing infrastructure—signaling the next phase of crypto adoption.