Crypto VC Funding Surge: Gnosis Acquires HQ.xyz for $14.95M, Perpl Raises $8.25M

Over $73 million was invested in various blockchain projects during the week of May 11-17, 2025, showcasing continued enthusiasm for DeFi, gaming, and other ecosystem-specific initiatives. The most significant deal saw Gnosis, a German Web3 infrastructure firm, acquire HQ.xyz, a Singapore-based on-chain business account platform, for $14.95 million.

• Total crypto funding: $73.2 million
• Gnosis acquires HQ.xyz for $14.95 million
• Perpl raises $8.25 million
• KYD Labs, Turtle Club, and XP secure Seed funding

The Big Deal: Gnosis Acquires HQ.xyz

Gnosis, now in its tenth year as a trailblazer in the blockchain space, has taken a bold step into Asia by acquiring HQ.xyz. This move is a cornerstone of Gnosis’s 3.0 vision: to construct an open internet featuring applications in payments, identity, and security. GnosisDAO, the decentralized autonomous organization that supports Gnosis, contributed up to $8.95 million to the acquisition, while Gnosis itself committed an additional $6 million in working capital to accelerate HQ.xyz’s development.

HQ.xyz provides businesses with the tools to manage their assets using self-custodial accounts, effectively bridging the gap between stablecoins and traditional financial operations. Its standout features include a self-custodial Visa corporate debit card and stablecoin off-ramps to third-party bank accounts. Following the acquisition, HQ.xyz will be rebranded as Gnosis HQ and seamlessly integrated into the broader Gnosis ecosystem, which includes Gnosis Chain, Gnosis Pay, Safe, CoW Swap, and karpatkey.

Stefan George, co-founder of Gnosis, highlighted the strategic significance of this acquisition:

“With Gnosis now in its 10th operational year, we know first-hand the banking difficulties faced by Web3 founders and businesses. The acquisition of HQ.xyz represents a critical advancement of our Gnosis 3.0 vision: our mission to build an open internet including the payments stack for it.”

Sharon Paul, CEO and co-founder of HQ.xyz, shared her enthusiasm for the future:

“Web3 projects have been busy building the future of finance, yet many still struggle with basic operations such as paying salaries, rent, or software bills. At Headquarters, our mission is to make self-ownership of money practical, even at the business level, by bridging stablecoins and self-custodial wallets with mainstream business FinOps. Joining the Gnosis ecosystem gives us the backing to push this vision further.”

While Web3, or the next generation of the internet built on blockchain technology, promises to revolutionize financial operations, it’s not without its challenges. The term “self-custodial accounts” refers to users having full control over their assets, a concept that’s empowering but also places more responsibility on the individual. Stablecoins, cryptocurrencies designed to minimize price volatility, are crucial here, offering a bridge between the crypto world and traditional finance.

Smaller but Significant: Other Funding Rounds

Beyond the headline-making acquisition, other projects also attracted substantial funding. Perpl, a startup venturing into an undisclosed but promising area, secured $8.25 million in a round led by Dragonfly, Erzonia, and Brevan Howard. This investment signals strong confidence in Perpl’s potential to make a mark in the crypto space.

KYD Labs, Turtle Club, and XP each raised $7.1 million and $6.2 million, respectively, in Seed rounds, demonstrating the diversity and vitality of the crypto funding ecosystem. These projects span various sectors, from DeFi to gaming, highlighting the broad appeal and innovation driving the blockchain industry forward.

Even smaller investments, ranging from $2 million to $6 million, were made in projects like Nirvana Labs, TrendX, XSY, DoubleUp, Vinanz, Giza, N1, and Puffverse. This spread of investments underscores the health and diversity of the blockchain ecosystem, with a focus on DeFi, gaming, and ecosystem-specific projects.

What Does It All Mean?

This week’s funding activity not only reflects the ongoing dynamism and growth in the cryptocurrency and blockchain sectors but also hints at future trends. The strategic acquisition by Gnosis and the diverse range of funded projects illustrate a sector that’s maturing and expanding its practical applications.

However, it’s crucial to balance optimism with realism. The crypto market’s volatility remains a concern, and regulatory challenges could impact these projects. While these investments show confidence in the crypto space, it’s important to consider the sustainability and real-world impact of these initiatives.

As a bitcoin maximalist, one might argue that these altcoin and blockchain projects distract from the primary goal of promoting Bitcoin as the future of money. Yet, it’s undeniable that these innovations play a critical role in advancing the broader adoption of blockchain technology. They fill niches that Bitcoin might not serve as effectively, contributing to the overall ecosystem’s growth and resilience.

Looking Ahead

The future of crypto funding looks promising, with continued interest in DeFi, gaming, and ecosystem-specific projects. Will these trends persist, or are there potential shifts on the horizon? As the industry evolves, so too will the investment landscape, likely with more focus on real-world applications and practical solutions.

While celebrating these advancements, we must remain vigilant. Scammers and unrealistic price predictions still plague the space, often leading to disappointment and loss. No bullshit here: real change will come from projects that deliver tangible value and navigate the complexities of regulation and market dynamics.

And for those who dream of a world where decentralization reigns supreme, remember: it’s not just about the tech but how we use it to challenge the status quo and champion freedom and privacy.

Key Questions and Takeaways

• What was the total amount of crypto funding for the week of May 11-17, 2025?

  The total crypto funding for that week was $73.2 million.

• Which transaction represented the largest deal during this period?

  The largest transaction was the acquisition of HQ.xyz by Gnosis for $14.95 million.

• What was the investment amount from the GnosisDAO treasury for the HQ.xyz acquisition?

  The GnosisDAO treasury invested up to $8.95 million in the HQ.xyz acquisition.

• Which company raised $8.25 million in an unknown round?

  Perpl raised $8.25 million in an unknown round.

• What are the main focus areas for the crypto projects that secured funding?

  The main focus areas were DeFi, gaming, and ecosystem-specific projects.

• How much did Turtle Club and XP each raise in their Seed rounds?

  Both Turtle Club and XP raised $6.2 million each in their Seed rounds.

• What was the range of smaller investments made during this week?

  Smaller investments ranged from $2 million to $6 million, with projects including Nirvana Labs, TrendX, XSY, DoubleUp, Vinanz, Giza, N1, and Puffverse receiving funding within this range.