{"id":6594,"date":"2025-08-03T12:23:40","date_gmt":"2025-08-03T12:23:40","guid":{"rendered":"https:\/\/bitunikey.com\/news\/crypto-vc-funding-mara-inks-850m-offering-subzero-labs-emerges-with-20m\/"},"modified":"2025-08-03T12:23:51","modified_gmt":"2025-08-03T12:23:51","slug":"crypto-vc-funding-mara-inks-850m-offering-subzero-labs-emerges-with-20m","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/crypto-vc-funding-mara-inks-850m-offering-subzero-labs-emerges-with-20m\/","title":{"rendered":"Crypto VC funding: MARA inks $850m offering, Subzero Labs emerges with $20m"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">A wave of high-profile raises last week\u2014totaling nearly $2 billion\u2014signals institutional confidence in digital assets, blockchain infrastructure, and on-chain treasury strategies.<\/p>\n<p>According to <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/crypto-fundraising.info\/deal-flow\/?start_date=2025-07-28&amp;end_date=2025-08-02&amp;sortby=raised&amp;sort=desc&amp;filter=closed\" target=\"_blank\">Crypto-Fundraising.info<\/a>, Marathon Digital\u2019s $850 million convertible note offering led the pack between July 28 and Aug. 2, followed by Mill City Ventures\u2019 $450 million move into Sui-backed tokenization.<\/p>\n<p>Ethereum-native treasury pivots from FG Nexus and ETH Strategy added momentum, as venture capital and strategic investors continued to back a fresh phase of experimentation across the crypto ecosystem.<\/p>\n<p>Rounding out the spree were AI identity platform Billions Network, infrastructure startup Subzero Labs, and stablecoin-focused Layer 1 Stable\u2014each pointing to a post-legislation pivot toward utility, compliance, and enterprise-scale Web3 solutions.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\"><strong>Mara Holdings<\/strong><\/h2>\n<ul class=\"wp-block-list\">\n<li>MARA Holdings, Inc. (NASDAQ: MARA), the largest publicly traded Bitcoin (BTC) miner by market capitalization, unveiled an $850 million private offering of zero-coupon convertible notes due 2032.<\/li>\n<\/ul>\n<ul class=\"wp-block-list\">\n<li>The deal, reserved for qualified institutional buyers, includes a potential $150 million upsell option, which could push the raise close to $1 billion, and also features conversion terms carefully calibrated to MARA\u2019s stock performance.<\/li>\n<\/ul>\n<ul class=\"wp-block-list\">\n<li>Notably, the miner earmarked the majority of proceeds for Bitcoin acquisitions, while allocating a smaller portion to refinance existing debt and execute sophisticated equity hedges through capped call transactions.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\"><strong>Mill City Ventures<\/strong> <\/h2>\n<ul class=\"wp-block-list\">\n<li>Mill City Ventures has become the first publicly listed company to launch a crypto treasury strategy backed by the Sui Foundation, acquiring 76.3 million SUI tokens in a $450 million private placement. <\/li>\n<\/ul>\n<ul class=\"wp-block-list\">\n<li>Partnering with hedge fund Karatage and receiving a matching investment from the Sui Foundation, Mill City now holds over $277 million in SUI at an average price of $3.64. <\/li>\n<\/ul>\n<ul class=\"wp-block-list\">\n<li>The tokens are held in a public wrapper, giving retail and institutional investors daily liquidity and direct exposure to the Sui network through a listed vehicle. The firm plans to continue accumulating SUI via OTC and open market purchases.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\"><strong>FG Nexus<\/strong><\/h2>\n<ul class=\"wp-block-list\">\n<li>On Ethereum\u2019s 10th anniversary, Fundamental Global rebranded as FG Nexus and announced a major strategic shift to adopt Ether (ETH) as its primary treasury reserve asset. <\/li>\n<\/ul>\n<ul class=\"wp-block-list\">\n<li>The North Carolina-based firm launched a $200 million private placement by issuing 40 million prefunded warrants at $5 each to fund ETH purchases and support a broader treasury strategy involving staking and DeFi yield opportunities. <\/li>\n<\/ul>\n<ul class=\"wp-block-list\">\n<li>Backed by investors and partners including Galaxy Digital, Kraken, Hivemind Capital, Syncracy Capital, Digital Currency Group, and Kenetic, the move positions Fundamental Global at the forefront of corporate Ethereum adoption.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\"><strong>ETH Strategy<\/strong><\/h2>\n<ul class=\"wp-block-list\">\n<li>An ETH Strategy campaign generated approximately $46.5 million (12,342 ETH) through a combination of private pre-sales, public sales, and a puttable warrant offering. <\/li>\n<\/ul>\n<ul class=\"wp-block-list\">\n<li>Most of the funds\u201411,817 ETH\u2014will be allocated to staking and protocol liquidity, with the remaining 525 ETH reserved for growth, audits, contributor compensation, and community initiatives. The raise includes a 4-month cliff and a 2-month linear unlock post-token generation. <\/li>\n<\/ul>\n<ul class=\"wp-block-list\">\n<li>Traders on X have praised the protocol\u2019s fully on-chain ETH treasury model, viewing it as a potential catalyst for increased institutional interest in Ethereum exposure.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\"><strong>RD Technologies<\/strong><\/h2>\n<ul class=\"wp-block-list\">\n<li>RD Technologies raised $40 million in Series A2 funding, just ahead of Hong Kong\u2019s new stablecoin licensing regime, bringing total Series A funding to nearly $48 million; the capital will support digital currency infrastructure and stablecoin-focused asset tokenization.<\/li>\n<\/ul>\n<ul class=\"wp-block-list\">\n<li>The firm partnered with ZA Bank to develop compliant stablecoin solutions, including custody and distribution, reinforcing their shared vision for fast, secure, and regulated digital financial services.<\/li>\n<\/ul>\n<ul class=\"wp-block-list\">\n<li>The raise and partnership coincide with Hong Kong\u2019s regulatory shift, as the city implements a stablecoin licensing framework on Aug. 1, drawing interest from major firms like Ant International and JD.com; RD aims to lead in this evolving landscape with products like the HKDR stablecoin and a cross-border mobile wallet.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\"><strong>Billions Network<\/strong><\/h2>\n<ul class=\"wp-block-list\">\n<li>Billions Network clinched $30 million from investors including Polychain Capital, Coinbase Ventures, and Polygon to scale its hybrid human-AI identity verification platform aimed at securing digital interactions and combating fraud in the Web3 ecosystem.<\/li>\n<\/ul>\n<ul class=\"wp-block-list\">\n<li>The platform combines AI-driven pattern recognition with human review to tackle challenges like bot detection, identity fraud, and Sybil attacks\u2014key issues facing decentralized apps, DAOs, and NFTs\u2014while preserving user privacy and operational efficiency.<\/li>\n<\/ul>\n<ul class=\"wp-block-list\">\n<li>Funds will be used to enhance AI capabilities, grow its human verification network, and expand integrations, positioning Billions Network to become a foundational player in the digital identity infrastructure of the growing internet of value.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\"><strong>Stable<\/strong><\/h2>\n<ul class=\"wp-block-list\">\n<li>Stable <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.prnewswire.com\/news-releases\/tether-focused-layer-1-stable-closes-28-million-funding-302518096.html\" target=\"_blank\">collected<\/a> $28 million in seed funding led by Bitfinex and Hack VC, with backing from major players like Franklin Templeton, Castle Island Ventures, and KuCoin Ventures; Bitfinex also helped incubate the project.<\/li>\n<\/ul>\n<ul class=\"wp-block-list\">\n<li>The Layer 1 \u201cstablechain\u201d is built around USDT and aims to enable seamless, instant financial transactions using stablecoins, targeting both institutional and retail adoption.<\/li>\n<\/ul>\n<ul class=\"wp-block-list\">\n<li>The raise follows the U.S. passage of the GENIUS Act, which provides regulatory clarity for stablecoin payments\u2014positioning Stable to accelerate USDT distribution and digital payment infrastructure globally.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\"><strong>Subzero Labs<\/strong><\/h2>\n<ul class=\"wp-block-list\">\n<li>Subzero Labs emerged from stealth with $20 million in funding led by Pantera Capital, backed by investors like Coinbase Ventures and Mysten Labs, and founded by ex-Meta and Netflix engineers Ade Adepoju and Lu Zhang.<\/li>\n<\/ul>\n<ul class=\"wp-block-list\">\n<li>The company is launching Rialo, a decentralized infrastructure network designed to simplify dApp development with native web connectivity, event-driven transactions, privacy, and scalability\u2014aiming to match Web2 speed and usability.<\/li>\n<\/ul>\n<ul class=\"wp-block-list\">\n<li>Rialo combines RISC-V architecture and Solana VM compatibility, enabling seamless deployment of existing programs while empowering new applications in areas like tokenized assets, prediction markets, and AI agent orchestration.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\"><strong>Zodia Custody<\/strong><\/h2>\n<ul class=\"wp-block-list\">\n<li>Zodia Markets\u2019 Series A funding round brought in $18.25 million. Pharsalus Capital and Tokenbay Capital led the effort. Circle Ventures also backed the startup. <\/li>\n<\/ul>\n<ul class=\"wp-block-list\">\n<li>The platform bridges TradFi and DeFi with a non-custodial model, offering secure, scalable trading and cross-border payments using stablecoins like USDC, targeting regions with clear regulatory frameworks.<\/li>\n<\/ul>\n<ul class=\"wp-block-list\">\n<li>Standard Chartered\u2019s affiliation and investor support signal confidence in Zodia\u2019s vision to lead institutional crypto adoption, despite undisclosed valuation or revenue projections.<\/li>\n<\/ul>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>A wave of high-profile raises last week\u2014totaling nearly $2 billion\u2014signals institutional confidence in digital assets, blockchain infrastructure, and on-chain treasury strategies. According to Crypto-Fundraising.info, Marathon Digital\u2019s $850 million convertible note&hellip;<\/p>\n","protected":false},"author":1,"featured_media":6595,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6594","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/6594","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=6594"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/6594\/revisions"}],"predecessor-version":[{"id":6596,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/6594\/revisions\/6596"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/6595"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=6594"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=6594"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=6594"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}