Crypto and cryptocurrency-related companies announced at least $1.24 billion in funding across 10 disclosed financing deals between October 24 and October 30. The largest deal came from prediction market platform Kalshi, which raised $1 billion in a Series G funding round at a $40 billion valuation. Meanwhile, Ibis announced a separate $250 million institutional lending facility to support its expansion into digital asset credit markets.
The funding activity included investments in artificial intelligence infrastructure, stablecoin payments, blockchain compliance, tokenized credit and cryptocurrency trading services. HIVE Digital Technologies and PhotonPay also secured major financing as companies continued expanding their AI computing and digital payment businesses.
The $1.24 billion total includes disclosed equity investments, debt financing and secondary share transactions. Ibis’s separate $250 million credit facility is not included in that total.
Kalshi announced its $1 billion Series G funding round on October 29. Wellington Management and Sequoia jointly led the investment, with participation from Baillie Gifford, Andreessen Horowitz, Coatue, CapitalG and Morgan Stanley Investment Management.
The latest funding valued Kalshi at approximately $40 billion, making it one of the most valuable companies operating in the prediction market industry.
The company plans to use the new capital to expand institutional sales, distribution, product development and international operations, particularly in Latin America and Europe.
Kalshi is also planning to introduce additional products, including financial indices, single-stock perpetual futures and markets linked to computing capacity.
The company reported more than 30 million accounts and an annualized trading volume exceeding $1 trillion across its exchange. The new investment is expected to help it expand beyond its existing prediction market business and attract more institutional participants.
HIVE Digital Technologies also secured significant financing for its artificial intelligence infrastructure business.
On October 27, the company announced that its subsidiary, BUZZ Alpha Cloud, had entered into an approximately $129 million loan agreement with an institutional lender.
The three-year financing facility carries a fixed annual interest rate of 9% and will support the purchase of Nvidia GPU systems and related infrastructure for a Canadian AI deployment.
The project is connected to a previously announced agreement with Cohere, an artificial intelligence company.
The loan is secured against the financed equipment and related assets, with a limited-recourse guarantee from BUZZ HPC. HIVE said the financing would not require issuing new common shares. Repayments are expected to come from revenue generated through the underlying contract.
PhotonPay secured $40 million in a Series C funding round led by Blockchain Capital, with participation from SBI Group and existing investors, including IDG Capital, GL Ventures and Lightspeed Faction.
The Hong Kong-based financial technology company plans to use the funding to expand its stablecoin-based payment infrastructure and international financial services.
Its platform connects stablecoin liquidity with traditional banking and payment networks, allowing businesses to manage international payments, corporate spending and financial settlements.
PhotonPay also plans to expand its multi-asset wallets, global card issuance and local payment clearing infrastructure.
The company reported annualized transaction volume of $65 billion as of August and said it serves more than 200,000 business customers.
Artificial intelligence infrastructure also attracted several major investments during the week.
Hyperbolic announced a $30 million Series A1 funding round on October 27, led by Walden Catalyst. Dell Technologies Capital, General Catalyst and Vista Equity Partners also participated.
The company plans to use the funding to expand its Forge software, cloud coordination services and a planned marketplace for GPU computing capacity. Its goal is to make AI computing resources more accessible through a broader infrastructure network.
Luxor also announced a $16 million strategic financing round led by CMT Digital, with participation from Canaan, MicroBT, Halo and Steelhead.
The transaction included both new investment and secondary share sales. Luxor plans to use the capital to expand its AI hardware operations, cloud services and computing-related financial products.
Smaller funding rounds also supported companies developing blockchain compliance, cross-chain liquidity and digital asset trading infrastructure.
Predicate raised $8 million in a Series A round led by Blockchain Capital. The company also named Paxos as a new strategic investor and reported that its total funding had reached $15 million.
Predicate develops compliance software designed to help digital asset businesses integrate regulatory screening directly into their operations.
Cancore secured $7.2 million in seed funding from investors including Paper Ventures, dao5 and ArkStream Capital. The company plans to expand connections between assets on the Canton network and liquidity available across public blockchains.
Spicenet raised $5 million in a Series A round led by dao5, with participation from Babylon and Astrarizon. The funding will support its brokerage products, token launch and network liquidity.
Mochatrade also completed a $4.87 million seed financing round, separate from its previously announced $690,000 pre-seed investment. CoinFund led the latest financing, with Coinbase Ventures participating. Its total funding has now reached approximately $5.56 million.
Birch Hill secured $4 million in seed funding led by Multicoin Capital, with participation from ParaFi, Castle Island Ventures and Nascent.
The company is developing infrastructure designed to bring US credit markets onto public blockchains through tokenized financial products.
Several additional companies announced investments or institutional financing arrangements without disclosing the full amounts.
Ibis emerged from stealth with a $250 million credit facility provided by FalconX. The company also announced an undisclosed pre-seed funding round involving FalconX, Anchorage Digital and Innovating Capital.
The company plans to develop institutional credit infrastructure for emerging markets, connecting digital asset liquidity with lending and financing services.
Payments infrastructure provider Fun also received an undisclosed investment from IOSG Ventures, according to a report published by KuCoin on October 26.
Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, also took an undisclosed strategic stake in Trade[XYZ]. The companies are working on plans for regulated US perpetual markets, subject to regulatory approvals.
Meanwhile, the Stellar Development Foundation made an undisclosed strategic investment in Marketnode to expand institutional access to tokenized financial products across the Asia-Pacific region.
Overall, the latest funding activity shows continued investor interest in cryptocurrency infrastructure beyond traditional trading platforms. AI computing, stablecoin payments, institutional lending and tokenized financial products attracted significant capital during the week.
Kalshi’s $1 billion funding round dominated the announcements, while HIVE and PhotonPay highlighted growing investment in AI infrastructure and stablecoin-based financial services. The additional investments in compliance, brokerage and tokenization also show that investors continue backing the infrastructure needed to connect digital assets with traditional financial markets.