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VC ‘spray-and-pray era over’ as crypto startups raise $883m in February – DL News

VC ‘spray-and-pray era over’ as crypto startups raise $883m in February – DL News

  • Fundraising down but not out in 2026, DefiLlama data shows.
  • Stablecoins, artificial intelligence agents, and institutional tools top sectors, VCs say.

Venture capitalists funnelled $883 million into crypto startups in February despite the market downturn, according to DefiLlama data.

The figure represents a 13% decrease fromthis time last year, when startups secured over $1 billion amid a crypto bull run.

These days, venture firms are still doling out cheques but erring on the side of caution.

“Last year, you could raise on a narrative and a deck,” Andrei Grachev, managing partner at crypto VC firm DWF Labs, told DL News.

“This year, investors want revenue, users, and a reason to believe the product survives a bear cycle,” he said….

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