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Naver Financial Acquires Dunamu in $10.3 Billion Crypto Deal

November 2025 crypto VC funding surged despite fewer deals, driven by Naver’s landmark $10.3 billion acquisition of Dunamu, with DeFi projects leading activity.

Summary

RootData data shows November 2025 saw 57 cryptocurrency venture capital deals, down 28% from the previous month, yet total funding rose 219% to $14.54 billion. The sharp increase was largely due to Naver Financial’s $10.3 billion acquisition of Dunamu, operator of the Upbit crypto exchange. DeFi projects were the most active sector, accounting for 30.4% of disclosed deals.

Terms & Concepts
  • Cryptocurrency exchange: A platform that facilitates the buying, selling, and trading of digital currencies.
  • Venture funding: Capital provided to startups or projects in exchange for equity or tokens, often to support growth and development.
  • Acquisition: The process in which one company purchases most or all of another company's shares or assets to gain control.