Nansen data shows Multicoin and Version One each earned over $17 million in H2 2025, with DeFiance Capital close behind and continued strong participation from top venture firms.
Nansen reported that in the second half of 2025, venture capital firms Multicoin and Version One each achieved profits exceeding $17 million, placing them at the top of crypto investment rankings. DeFiance Capital followed closely. Prominent institutional investors such as a16z, Pantera Capital, and Coinbase Ventures appeared frequently in the rankings, underscoring sustained high-level participation in the digital asset market.