rewrite this title Crypto startups attract $800 million in VC backing during November | Coin Media

Venture capital (VC) funds invested nearly $800 million in crypto startups in November, according to DefiLlama data.

Despite recording the fourth-best month for funding this year, the amount was down 8% compared to the money raised in October.

Infrastructure still reigns

The blockchain gaming sector raised roughly $71 million in funding, while general web3 projects secured $8.2 million in funding.

Monkey Tilt, an online platform offering a gamified gambling experience fueled by crypto, raised the most funding in the gaming sector, with $30 million. Pantera Capital led the Series A round. 

VC funds poured over $583 million into startups developing crypto-related infrastructure in November, making it the sector with the highest funding. The 

The most significant rounds were conducted by Zero Gravity Labs, which raised $40 million, and Bitcoin miner Canaan Creative, which raised $30 million in a private equity offering.

DeFi climbs

Following its recovery between September and October, the DeFi ecosystem saw 31% monthly funding growth to reach $128.2 million.

USDX Money, a synthetic US dollar-pegged stablecoin issuer, conducted the largest funding round, with $45 million injected by NGC Ventures, BAI Capital, Generative Ventures, and UOB Venture.

Furthermore, World Financial Liberty (WLFI) raised the second-largest amount through a token sale in which Justin Sun, founder of Tron, invested $30 million. WLFI is a credit market backed by President-elect Donald Trump and his family.

StakeStone, a liquid staking protocol available in various blockchains, raised $22 million in a strategic round led by Polychain Capital.

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