[Second Half of 2025: Multicoin and Version One Profit Over $17 Million] According to Nansen monitoring data, the profit and loss rankings for the second half of 2025 show that Multicoin and Version One lead the list with profits exceeding $17 million, followed closely by DeFiance Capital. Additionally, a16z, Pantera Capital, and Coinbase Ventures appeared on the list multiple times, demonstrating the active performance of institutional investors over the past six months.