Crypto Funding Hits $1.24 Billion as Kalshi Secures $1 Billion in New Capital
Crypto and crypto-linked companies disclosed at least $1.24 billion across 10 financing deals from October 24 to 30, according to Analytics Insight. Prediction market Kalshi led the weekly crypto funding activity with a $1 billion Series G round that placed its post-money valuation at $40 billion.
The weekly crypto funding figure includes loans and sales of existing shares alongside fresh venture capital, Analytics Insight reported. Analytics Insight compiled the data from Crypto Fundraising and CryptoRank, supplemented by announcements from the companies themselves and reports on individual transactions.
Kalshi's $1 Billion Round Tops Crypto Funding
Kalshi announced its $1 billion Series G on October 29, according to Analytics Insight. The round drew participation from Baillie Gifford, Stripes, Andreessen Horowitz, Coatue, Layer Global, Morgan Stanley Investment Management, Sequoia Global Equities, CapitalG, Hudson River Trading, and Balyasny Asset Management.
The proceeds are earmarked for building out institutional sales, broadening distribution, developing products, and expanding internationally, with overseas plans focused particularly on Latin America and Europe. Kalshi also sketched out new offerings including indices, perpetual futures tied to individual stocks, and markets for computing power, products that would extend its business beyond conventional prediction markets.
The company said its account base has passed 30 million, with annualized exchange volume above $1 trillion. Roughly 500 entities traded on Kalshi during September, and about a quarter of total exchange volume came from entities other than market makers, according to Kalshi.
Sports brought millions of people to Kalshi and helped establish deep liquidity, the company said. Annualized crypto trading on the exchange now stands at $140 billion, while politics markets have passed $8 billion on an annualized basis, and its commodities business has passed $100 million in annualized trading fees only three months after launch.
HIVE and Ibis Add Debt to Weekly Crypto Funding
HIVE Digital Technologies followed Kalshi in the week's crypto funding activity with an approximately $129 million loan agreement announced on October 27 through its BUZZ Alpha Cloud subsidiary, Analytics Insight reported. The facility runs for three years at a fixed 9% annual rate.
The money came from an institutional lender and will pay for Nvidia GPU hardware and supporting infrastructure located in Canada, and the hardware will be deployed to serve HIVE's earlier-announced contract with Cohere. The loan is secured by the equipment and associated assets and carries a limited-recourse guarantee from BUZZ HPC, and HIVE expects contract revenue to cover repayments without issuing common shares.
Separately, Ibis announced a $250 million institutional lending facility, one more sizable credit deal disclosed during the week, according to Analytics Insight.
PhotonPay Raises $40 Million in Crypto Funding Week
PhotonPay said on October 30 that it had raised $40 million in a Series C round, with Blockchain Capital in the lead, SBI Group joining as a new investor, and existing backers IDG Capital, GL Ventures, and Lightspeed Faction adding follow-on investments. Blacksheep Technology served as the company's sole financial adviser on the deal.
PhotonPay said the proceeds will go toward growing its stablecoin-centric Financial Operating System, with spending directed at better multi-asset wallets, wider global card issuing, stronger local clearing infrastructure in key markets, and an execution layer built for AI agents, according to PR Newswire.
As of August 2026, PhotonPay's annualized transaction volume reached $65 billion. The firm holds 34 payment and financial licenses and regulatory authorizations spanning the Americas, Europe and Asia, and counts more than 200,000 business customers in over 200 countries and territories.
"Moving money across borders in seconds means little if it still takes days to put that capital to work," said Lewison Chen, Founder and CEO of PhotonPay. "At the same time, business software is becoming increasingly autonomous," Chen added.
PhotonPay's Stablecoin and AI Strategy
PhotonPay's Financial OS connects on-chain liquidity with the banking, clearing and card networks businesses rely on for everyday operations, according to PR Newswire. Its multi-asset wallet connects stablecoin liquidity with fiat balances, integrating asset conversion, foreign exchange, and local clearing into a single connected workflow.
Businesses can open local collection accounts in 17 key markets and receive funds in more than 60 currencies. On the payout side, the network supports over 100 payment routes across local clearing systems, bank transfers, and digital wallets, and approximately 97% of payout transactions reach recipients within hours or on the same day, with 68% arriving in real time.
Over the past 12 months, PhotonPay issued 4.4 million cards, up 275% year over year. In May 2026, PhotonPay and Mastercard completed a live agentic payment demonstration using a tokenized PhotonPay card, validating AI-initiated transactions across existing global card networks.
"AI can simplify how businesses interact with financial services, but it cannot replace the infrastructure required to deliver them," said JP Pi, Chief Compliance Officer at PhotonPay.
PhotonPay's established global payment network and its vision for a stablecoin-centric Financial OS align closely with SBI Group's strategy to advance digital financial infrastructure and expand the practical adoption of digital assets, according to PR Newswire. Founded in Hong Kong in 2015, PhotonPay operates 16 offices worldwide and employs nearly 600 people.
Smaller Rounds Fill Out the Week
Elsewhere in the week's crypto funding activity, Hyperbolic announced a $30 million Series A1 led by Walden Catalyst, with participation from Dell Technologies Capital, General Catalyst and Vista Equity Partners. The company will direct the capital toward Forge software, cloud coordination services and a planned GPU marketplace.
Luxor disclosed a $16 million strategic round led by CMT Digital, with Canaan, MicroBT, Halo and Steelhead participating in a transaction that combined fresh capital with secondary share sales. Luxor plans to expand AI hardware, cloud services and compute derivatives.
Predicate secured an $8 million Series A, according to CryptoRank, and its announcement identified Paxos as a new strategic participant and placed cumulative funding at $15 million. Cancore announced $7.2 million in seed financing from supporters including Paper Ventures, DAO5, and ArkStream Capital, and the company aims to connect Canton assets with public-chain liquidity.
Conclusion
Crypto and crypto-linked companies disclosed at least $1.24 billion across 10 financing deals from October 24 to 30, with Kalshi's $1 billion Series G at a $40 billion post-money valuation accounting for the bulk of the weekly crypto funding total. HIVE Digital Technologies added an approximately $129 million infrastructure loan and PhotonPay closed a $40 million Series C led by Blockchain Capital.
Kalshi plans to deploy its new capital toward institutional sales, wider distribution, product development, and international expansion focused on Latin America and Europe. PhotonPay said its funding will go toward multi-asset wallet capabilities, global card issuing, local clearing infrastructure, and an agent-ready financial execution layer.
Frequently Asked Questions
How much crypto funding was disclosed in the week of October 24 to 30, 2026?
Crypto and crypto-linked companies disclosed at least $1.24 billion across 10 financing deals from October 24 to 30, according to Analytics Insight. The total covers debt financing and secondary share sales, not just new startup capital, and was compiled from Crypto Fundraising and CryptoRank deal lists alongside company announcements.
What was Kalshi's valuation after its $1 billion Series G round?
Kalshi announced its $1 billion Series G on October 29, placing its post-money valuation at $40 billion, according to Analytics Insight. Investors in the round included Baillie Gifford, Stripes, Andreessen Horowitz, Coatue, Morgan Stanley Investment Management, Sequoia Global Equities and CapitalG.
What are the terms of HIVE Digital Technologies' $129 million loan?
HIVE Digital Technologies announced an approximately $129 million loan agreement on October 27 through its BUZZ Alpha Cloud subsidiary. The three-year facility carries a fixed annual interest rate of 9%, finances Nvidia GPU systems and related infrastructure in Canada, and uses equipment and related assets as collateral.
Who led PhotonPay's $40 million Series C round?
Blockchain Capital led PhotonPay's $40 million Series C, with participation from new investor SBI Group and follow-on investments from existing investors IDG Capital, GL Ventures, and Lightspeed Faction. Blacksheep Technology acted as exclusive financial advisor to PhotonPay on the transaction.
How will Kalshi use the $1 billion in new capital?
Kalshi plans to use the capital for institutional sales, wider distribution, product development, and international expansion, with overseas plans focused particularly on Latin America and Europe, according to Analytics Insight. The company also outlined plans for indices, single-stock perpetual futures, and compute markets.
