$1.1B Raised in May: Bitcoin Treasuries, AI Agents, Stablecoin Rails
May 2025 saw a renewed wave of institutional investment in crypto, with more than $1.2B flowing into the sector. Here’s a breakdown of the top investors, funding amounts, and target sectors.
On this page
- Strive Raises $750M to Build Alpha-Generating Bitcoin Treasury
- Tether Backs $100M Investment in Twenty One Capital as It Moves to Challenge MARA
- Conduit Raises $36M to Expand Instant Stablecoin Payments Platform
- Freysa AI Raises $30M to Build Personal AI Agents for Web3
- Institutional Capital Shifts Toward Web3 Infrastructure and Strategic Solutions
Major deals are returning to the crypto space. In total, investment rounds in May raised over $1.1 billion. The largest share went to Bitcoin, with institutions allocating more than $700 million toward strategic accumulation and related infrastructure.
Strive Raises $750M to Build Alpha-Generating Bitcoin Treasury
The largest funding round in May went to Strive, an investment platform founded by entrepreneur and former U.S. presidential candidate Vivek Ramaswamy. The company secured $750 million through a PIPE (Private Investment in Public Equity) deal, with plans to allocate the capital toward building a Bitcoin treasury and deploying alpha-generating strategies.
If investors exercise their warrants, the total could rise to $1.5 billion, which would be enough to place Strive among the five largest corporate holders of BTC.
Departing from traditional Bitcoin accumulation strategies, Strive is betting on arbitrage and distressed asset purchases. Its initial plans include acquiring bankruptcy claims, notably 75,000 BTC linked to the Mt. Gox estate. In addition, the team is targeting discounted Bitcoin loan tranches and undervalued biotech assets. Both fall under its broader “alpha accumulation” strategy.
Strive also plans to go public through a merger with marketing firm Asset Entities. Its strategy goes beyond simply holding BTC, aiming to actively manage the asset for returns that outperform Bitcoin itself. The team intends to present its valuation model at an upcoming industry symposium in Las Vegas.
Tether Backs $100M Investment in Twenty One Capital as It Moves to Challenge MARA
Twenty One Capital has secured a $100 million investment, further advancing its position in the Bitcoin accumulation race. This marks the company’s third major round under its BTC-focused strategy, bringing total capital raised to $685 million. The firm aims to surpass MARA Holdings and become the second-largest public holder of Bitcoin, behind only Strategy.
Related: Nasdaq 100 Adds Strategy (MSTR): What to Expect
The company currently holds 31,500 BTC, while MARA holds just over 39,000 BTC. Unlike most competitors, Twenty One Capital emphasizes transparency. CEO Jack Mallers has publicly disclosed wallet addresses holding company assets and pledged to reveal four more belonging to key backers, including Tether, SoftBank, and Bitfinex.
Twenty One Capital follows a strategy similar to Strategy but relies on more aggressive financing, including convertible notes and PIPE offerings. The company also supports Proof-of-Reserve practices and advocates for public balance disclosures, placing equal emphasis on Bitcoin growth and investor trust.
Conduit Raises $36M to Expand Instant Stablecoin Payments Platform
U.S. startup Conduit has raised $36 million in a Series A round to scale its cross-border payments platform. Positioned as an alternative to SWIFT, the company offers a system that pairs stablecoins with local fiat currencies to enable near-instant settlements.
The round was led by Dragonfly and Altos Ventures, with participation from Circle Ventures, Commerce Ventures, DCG, Sound Ventures, and others. The company plans to use the funds to expand the platform’s geographic reach and add support for new fiat and digital currencies.
The raise comes amid accelerating interest in stablecoins, whose combined market capitalization has grown 54% since May last year, reaching $247 billion. As a result, Conduit positions its platform not just as a technological upgrade, but as business-ready infrastructure designed to replace legacy banking systems.
Freysa AI Raises $30M to Build Personal AI Agents for Web3
Freysa AI has raised $30 million in a round backed by Coinbase Ventures and Selini Capital, introducing a new model of Web3 interaction through personal AI agents, also known as “AI Twins.” These digital counterparts can learn user behavior, adapt to preferences, and act within decentralized ecosystems, managing wallets, participating in DAOs, and interacting with DeFi protocols on the user’s behalf.
Related: How Beating Freysa Could Change the Future of AI Agents
The project aims to streamline the Web3 user experience. Instead of manual interaction with protocols, users can delegate routine tasks to their AI agents. Potential applications include:
- Personalized asset management
- Private data storage
- Data monetization
- Secure engagement with metaverse environments
The backing from Coinbase Ventures underscores strategic interest in the crypto AI sector. As blockchain networks face rising UX complexity and expanding data volumes, tools that combine AI and decentralization may represent the next phase in Web3.
Institutional Capital Shifts Toward Web3 Infrastructure and Strategic Solutions
May highlighted a shift in institutional engagement with the crypto economy. Rather than short-term speculation, the focus is moving toward infrastructure, asset management, and technological autonomy. Alongside Bitcoin accumulation, investment is flowing into Web3 solutions that offer speed, personalization, and control, from AI agents to global payment systems.
All major May deals—from Strive to Freysa AI—point to a clear trend: building scalable and resilient models within the Web3 framework. This is no longer about speculative token purchases, but about building ecosystems and strategic verticals.
The shift signals a more mature phase for the industry. Institutions are not just entering the crypto space; they are starting to reshape it, with an emphasis on transparency, user experience, and integration into real-world business operations.
The content on The Coinomist is for informational purposes only and should not be interpreted as financial advice. While we strive to provide accurate and up-to-date information, we do not guarantee the accuracy, completeness, or reliability of any content. Neither we accept liability for any errors or omissions in the information provided or for any financial losses incurred as a result of relying on this information. Actions based on this content are at your own risk. Always do your own research and consult a professional. See our Terms, Privacy Policy, and Disclaimers for more details.
Articles by this author
