Crypto Financing Disclosures Reach About $409 Million in One Week

A $270 million commitment to Project Faro accounted for most of roughly $409 million in crypto financing disclosed across the sector Nov. 7-13, alongside two completed funding rounds.

The nine deals included corporate funding commitments and two public token sales. Four of the nine announcements did not disclose an amount or gave only cumulative funding totals. Project Faro, Index Industries and Alta together made up nearly 90% of the weekly total.

A consortium of 21 institutions is advancing Project Faro. Goldman Sachs, Citi, Santander and Deutsche Bank are among the institutions that committed funding. The commitment is intended to cover five years of operating costs, and the full amount had not been announced as paid.

The consortium plans to establish an issuer in the United States and launch a dollar stablecoin in the first half of 2027, followed by a euro token.

Index Industries completed a $50 million seed round led by Lightspeed Venture Partners, with Polychain Capital, Galaxy Ventures and Wintermute Ventures participating. Former Polychain president Josh Rosenthal and Longmark CEO Brian Hardecker founded the project, which provides tokenized infrastructure for a daily U.S. home-price index and housing-linked products.

Alta completed a $47.5 million Series A led by Index Ventures, bringing its cumulative funding to $80 million.