According to financing data statistics from RootData, there were a total of 47 disclosed financing events in the crypto primary market in September, with 34 events revealing precise amounts, totaling approximately $1.114 billion. This represents an 85.0% increase from about $602 million in August and a 9.0% increase compared to approximately $1.022 billion in September 2022. The number of financing events decreased by 4.1% from 49 in August and by 25.4% from 63 in the same month last year. In terms of sectors, infrastructure had the highest number of financing events in September, with 14 completed, disclosing amounts of approximately $263 million. Both CeFi and DeFi completed 11 financing events, disclosing amounts of approximately $394 million and $369 million, respectively. Together, CeFi, DeFi, and infrastructure accounted for about 92.0% of the disclosed financing amounts this month. The three largest financing amounts in September were Polymarket ($300 million), Félix ($200 million), and Jeeves ($110 million), totaling $610 million, which accounted for approximately 54.8% of the month's total financing. Kraken also secured a $100 million investment from Nasdaq. The significant increase in financing amounts this month was primarily driven by a few large financings, while the overall number of financing events did not grow in tandem. In September, there were 8 disclosed financing events related to RWA, with 6 revealing specific amounts, totaling approximately $52.75 million, representing about 17.0% and 4.7% of the month's financing event count and total amount, respectively. This is a 300% increase in event count and approximately a 276.8% increase in financing amount compared to August, which had 2 events totaling $14 million. The top three projects by amount were OpenReserve ($25 million), Tare ($13.25 million), and CatchBack ($8 million), which together accounted for approximately 87.7% of the disclosed RWA amounts. Additionally, there were 11 disclosed merger and acquisition events in September, a 57.1% increase from 7 in August, but a 42.1% decrease from 19 in the same month last year. The tools and information services sector had 4 events, making it the most active sector for mergers and acquisitions. Notable transactions included MoonPay's acquisition of North Capital, CoinMarketCap's acquisition of CoinGlass, Circle's acquisition of Tazapay, and S&P's acquisition of OpenZeppelin. In terms of investment institutions, Coinbase Ventures participated in 6 financings, making it the most active institution this month, while a16z and Maven11 each participated in 3. Overall, funding in September primarily flowed towards payment, prediction markets, trading and data infrastructure, CeFi, and RWA.