According to The Kobeissi Letter, top US startups have raised approximately $150 billion year-to-date in 2025, marking a third consecutive annual increase and standing $58 billion above the 2021 record (source: The Kobeissi Letter on X, Dec 31, 2025). According to The Kobeissi Letter, the largest transaction cited is a $41 billion capital raise by OpenAI (source: The Kobeissi Letter on X, Dec 31, 2025). According to The Kobeissi Letter, the post did not reference cryptocurrencies, so the source provides no stated direct impact on the crypto market (source: The Kobeissi Letter on X, Dec 31, 2025).