Re. Bluesky, this from Bitget, "an exchange committed to helping users trade smarter by providing a secure, one-stop crypto investment solution." The figures seem pretty solid.
Bluesky’s Financial Landscape: Funding Amid Declining Engagement
In April 2025, Bluesky secured a significant financial boost with a $100 million Series B investment led by Bain Capital Crypto, aimed at advancing its vision for an open social web.
However, this influx of capital came at a time when user engagement was sharply falling. By October 2025, data revealed that daily active users had dropped by 40% year-over-year, highlighting a troubling trend for the platform.
This situation exposes a major challenge in Bluesky’s growth trajectory. Although the company boasts more than 43 million registered users, independent analyses estimate that only 12 to 15 million are active each month. This means that just 30-35% of the user base is engaged monthly, leaving a vast number of dormant accounts and raising concerns about the platform’s ability to build a sustainable, revenue-generating community.
The central issue is clear: while the $100 million investment offers Bluesky the resources to pursue its 2026 product roadmap and address declining engagement, long-term success depends on transforming its large pool of registered users into regular, active participants. The funding extends the company’s runway, but does not resolve the fundamental challenges of user retention and engagement."