Top Crypto VCs Remain Active as DeFi Funding Hits Lowest Level Since 2023

According to ChainCatcher citing CryptoRank, top crypto venture firms maintained aggressive deal-making throughout 2025 and into 2026, with Coinbase Ventures participating in around 33 investments, Animoca Brands in approximately 19, and Andreessen Horowitz's crypto arm in about 18. However, the DeFi sector has faced intensifying headwinds, with venture capital investment declining for three consecutive quarters. DeFi funding in the second quarter of 2026 hit its lowest level since the fourth quarter of 2023, signaling increasingly strict project selection and a shift toward capital concentration in early-stage opportunities.
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