This report summarizes the financing situation of the Web3 industry in January 2025. In January, a total of 148 financings were completed, with a total amount of up to 14.4 billion U.S. dollars. Compared with December 2024, they decreased by 9.75% and 53.24% respectively. Blockchain services and CeFi have become investment hotspots, and mergers and acquisitions have become the main means for leading companies to expand. Through mergers and acquisitions, leading companies are able to rapidly expand their market share. Small and medium-sized financing projects account for the highest proportion, showing the market's follow-up for early projects. The report also covers the introduction of key financing projects such as Phantom, SoSoValue, Tea-Fi, Oshi, and Bluwhale.

In the field of investment and financing segmentation, Decentralized Finance was relatively hot this week, while Web3, Non-fungible Token, and chain games were relatively sluggish.