Crypto funding: Web3 marketing, liquid staking lead a $14M week

A new, wrapped version of bitcoin is coming from Stroom Network following its capital raise


Freedomz/Shutterstock modified by Blockworks


The last week in August was a sleepy one for crypto fundraising, as four startups raised about $14 million.

On-chain marketing firm DeForm led the pack, securing $4.6 million of seed funding. Steve Jang’s Kindred Ventures led the round, with support from investor Elad Gil, Scalar Capital, Alchemy Ventures, Next Web Capital and others. 

DeForm, based in San Francisco, has been building out a “crypto-native” client management software (CRM) so businesses and creators can make more meaningful insights about their customers. 

The $4.6 million raised will be allocated to further developing DeForm’s CRM. 

Non-fungible tokens also got some attention this week, with startup FirstMate raising $3.75 million to debut what it calls a “creator-owned NFT storefront builder.”

Dragonfly Capital was the main backer, with Coinbase Ventures and Next View Ventures also counting themselves as investors. 

FirstMate’s new product is launching in partnership with, and it allows NFT creators to enforce their own royalty payout structure and customize their own site, according to a thread on X, formerly Twitter. 

Liquid staking on Lightning?

European crypto investment firm Greenfield Capital led Stroom Network’s $3.5 million seed round, announcing the fresh funding early Thursday morning. 

Stroom is aiming to roll out a liquid staking solution on Bitcoin’s Lightning network through its ERC-20 token, InBTC. 

On its website, Stroom describes InBTC as a “liquid derivative” of bitcoin staked on Lightning that can be redeemed 1:1 for bitcoin. 

Liquid staking has become popular on Ethereum, and now Stroom wants to bring a similar framework to Bitcoin.

Other notable fundraises

  • Web3 talent network BuidlerDAO raised $2 million from Sequoia Capital and SevenX Ventures.
  • Aerodrome, a new DeFi protocol on Coinbase’s layer-2 Base, has gotten over $175 million in deposits since around August 30, according to DeFiLlama.

Don’t miss the next big story – join our free daily newsletter.


Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

Mon - Wed, March 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Research report - cover graphics (1).jpg


In this report, we dive into crypto private market data to gather insights on where the future of the industry is headed. Despite a notable downturn in private raises, capital continues to infuse promising projects that aim to transform payments, banking, consumer experiences, community, and more, with 2023 being the fourth-largest year for crypto venture capital.


BUZZ holds shares of Coinbase, Robinhood and MicroStrategy


Opinion: Even though I didn’t pay for my “Diamond Hands” burger with BTC, don’t let that fool you into thinking that crypto’s development is futile


The results mark “a major positive inflection point,” one analyst says, as the exchange carries net income momentum into a crypto rally


While the slate of 10 US spot bitcoin funds have tallied $4.6 billion of net inflows thus far, half of the field is lagging the leaders


Trading volumes totalled $154 billion in Q4, including $125 billion in institutional volume


DeFi on Bitcoin is all the rage right now and Stacks is positioned to benefit