Crypto and crypto-linked companies announced at least $1.24 billion across 10 disclosed financings during Oct. 24–30, led by Kalshi’s $1 billion Series G, while Ibis unveiled a separate $250 million institutional lending facility.
Summary
- Ten disclosed financings totaled approximately $1.24 billion, with Ibis announcing separate institutional lending capacity.
- Kalshi secured $1 billion at a $40 billion valuation from Wellington, Sequoia, and other investors.
- HIVE’s BUZZ subsidiary arranged approximately $129 million in debt for Canadian AI infrastructure.
- PhotonPay raised $40 million to expand its stablecoin payments and financial services platform.
- Smaller rounds backed compliance software, tokenized credit, cross-chain trading and brokerage infrastructure.
HIVE’s AI infrastructure loan and PhotonPay’s stablecoin payments round followed Kalshi among the largest transactions. The disclosed deal tally includes debt and Luxor’s secondary share sales alongside startup investment.
Crypto Fundraising and CryptoRank provided the starting deal lists, checked against company announcements, and reported on individual transactions.
Kalshi raises $1 billion to expand its exchange
Kalshi announced its Series G on Oct. 29, with Wellington Management and Sequoia co-leading. Participants included Baillie Gifford, Andreessen Horowitz, Coatue, CapitalG and Morgan Stanley Investment Management.
The $40 billion post-money valuation follows the company’s earlier fundraising discussions, which crypto.news previously reported in September.
Kalshi said proceeds would support institutional sales, distribution, product development and international expansion, particularly in Latin America and Europe. Its planned products include indices, single-stock perpetual futures and compute markets.
The company reported more than 30 million accounts and annualized trading volume exceeding $1 trillion across its exchange. Those figures describe its reported business scale, with the new capital intended to support expansion beyond prediction markets.
HIVE secures $129 million for AI infrastructure
HIVE Digital Technologies said on Oct. 27 that its BUZZ Alpha Cloud subsidiary had entered into an approximately $129 million loan agreement with an institutional lender.
The three-year facility carries a fixed annual interest rate of 9%. It will finance Nvidia GPU systems and related infrastructure for a Canadian deployment supporting a previously announced Cohere contract.
The loan is secured against the equipment and related assets, with a limited-recourse guarantee from BUZZ HPC. HIVE said no common shares would be issued and that repayment was intended to come from contract revenue.
PhotonPay closes $40 million stablecoin payments round
PhotonPay closed a $40 million Series C led by Blockchain Capital, with SBI Group joining existing investors IDG Capital, GL Ventures and Lightspeed Faction.
The Hong Kong company plans to expand wallets supporting multiple assets, global card issuance and local clearing infrastructure. Its platform connects stablecoin liquidity with banking and payment networks used for corporate spending and settlement.
PhotonPay reported $65 billion in annualized transaction volume as of August and more than 200,000 business customers.
Projects above $15 million target AI computing
• Hyperbolic announced a $30 million Series A1 led by Walden Catalyst on Oct. 27. Dell Technologies Capital, General Catalyst and Vista Equity Partners participated. Proceeds will support its Forge software, cloud coordination services and a planned marketplace for GPU capacity.
• Luxor disclosed a $16 million strategic round led by CMT Digital, with Canaan, MicroBT, Halo and Steelhead participating. The transaction combines new investment and secondary share sales. Luxor plans to expand AI hardware, cloud services and compute derivatives.
Funding under $10 million backs compliance and trading
• Predicate raised an $8 million Series A led by Blockchain Capital, according to CryptoRank. Its announcement named Paxos as a new strategic investor and put cumulative funding at $15 million. The company embeds compliance screening into digital assets.
• Cancore announced $7.2 million in seed funding, backed by Paper Ventures, dao5, ArkStream Capital and others, to expand connections between Canton assets and public-chain liquidity.
• Spicenet secured a $5 million Series A led by dao5, with Babylon and Astrarizon participating. Funding will support its brokerage products, token launch, and network liquidity.
• Mochatrade’s latest seed financing amounted to $4.87 million, separating its previously announced $690,000 pre-seed from $5.56 million in cumulative funding. The Block reported that CoinFund led, with Coinbase Ventures participating.
• Birch Hill announced a $4 million seed round led by Multicoin Capital, with ParaFi, Castle Island Ventures and Nascent participating. It is developing infrastructure to bring U.S. credit onto public blockchains.
Undisclosed investments and institutional credit
• Ibis launched with $250 million in FalconX credit capacity and an undisclosed pre-seed round involving FalconX, Anchorage Digital and Innovating Capital.
• IOSG Ventures invested an undisclosed amount in payments infrastructure provider Fun, according to KuCoin’s Oct. 26 report.
• ICE took an undisclosed strategic stake in Trade[XYZ] alongside plans for regulated U.S. perpetual markets, subject to regulatory approvals.
• Stellar Development Foundation invested an undisclosed amount in Marketnode to expand institutional access to tokenized financial products across Asia-Pacific.
