Deal Corner Ep 94: BIO Protocol kicks off 2025 with $64.4 mn public sale

Deal Corner Ep 94: BIO Protocol kicks off 2025 with $64.4 mn public sale

By Shikha Singh

This week, we have some exciting developments across the Web3 and blockchain sectors. Let’s take a look at the latest deals and funding rounds that are shaping the landscape.

BIO Protocol Kicks Off 2025 with $64.4 Million Public Sale

In the first week of 2025, the DeFi sector saw significant investments, totaling $88 million, with BIO Protocol leading the charge by raising $64.41 million through a public sale. BIO Protocol, backed by Binance, focuses on DeFi infrastructure and is valued at $219.12 million. Other notable investments include Fold, which raised $20 million for Bitcoin ecosystem tools, and Accountable, which secured $2.3 million for analytics and audit tools.

Tabit Insurance Announces $40 Million Bitcoin-Centric Funding

Tabit Insurance has raised $40 million for its insurance facility, marking an industry-first by capitalizing the entire amount in bitcoin. The capital is held in bitcoin, while insurance policies and premiums are denominated in U.S. dollars. The $40 million is verifiable on the blockchain, ensuring regulatory oversight, particularly in Barbados, where Tabit is based.

Crypto Card Issuer Rain Raises $24.5 Million in Round Led by Norwest Venture Partners

Rain, a company offering credit cards that allow payments in stablecoins, has raised $24.5 million in a funding round led by Norwest Venture Partners, with participation from Galaxy Ventures, Goldcrest, Thayer, and Hard Yaka. The company partners with businesses to issue credit cards for payments in stablecoins and crypto, and has recently partnered with the Avalanche Foundation to launch a Visa card enabling payments in AVAX tokens and stablecoins like USDC and USDT. Rain plans to expand globally, processing transactions in over 100 countries.

Coresky Secures $15 Million Series A to Boost Meme Coin Incubation

Coresky, a meme coin incubation platform, raised $15 million in a Series A funding round led by Tido Capital, with participation from WAGMi Ventures and Web3 Vision Fund. The platform focuses on community-driven initiatives, allowing user voting and grassroots involvement in meme coin projects. This funding will enhance Coresky’s resources and expand its offerings, promoting equitable distribution within the meme coin landscape.

Code & State Secures $3 Million to Incubate Stablecoin Ventures

Code & State, a Dubai-based venture studio focused on stablecoin innovation, raised $3 million in a funding round led by Warburg Serres and KR1. The funds will be used to incubate startups aimed at driving real-world adoption of stablecoins. Led by Cédric Waldburger, a founding investor in Liquity, and Artia Moghbel, former COO at Dfinity, Code & State focuses on supporting ventures solving challenges in payment systems, remittances, and security. With the stablecoin sector experiencing explosive growth, Code & State is actively seeking entrepreneurs-in-residence to develop new projects, offering capital, mentorship, and access to a strategic network of investors.

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