Venture capital investment in the crypto industry reached $4.65 billion in Q3, the second highest since the FTX crash.

According to a research report released by Galaxy Digital on Monday, total venture capital investment in the crypto industry reached $4.65 billion in the third quarter of 2025, a 290% increase quarter-over-quarter, marking the second-highest level since the FTX crash in 2022 (the highest record was $4.8 billion in the first quarter of this year).