Crypto venture capital investors deployed $4.519 billion across 296 deals in the third quarter of 2026, according to Galaxy Research. Invested capital fell 20% and the number of transactions declined 24% from the previous quarter, mainly because of a slowdown in later-stage funding rounds. The average size of investment checks remained stable, while later-stage rounds captured about 76% of all capital deployed. Seed and pre-seed rounds represented 44.9% of transactions but received only 6% of the capital. US-based companies attracted 74.9% of all funding, while trading, exchange, investment and lending businesses received nearly half of all investment. Through the end of September, 2026 investment totaled $14.537 billion across 1,040 deals, with Galaxy Research projecting approximately $19.383 billion for the full year, below the $20.3 billion recorded in 2025.
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