Weekly digest covering major exploits (Binance $6.3B breach), regulatory approvals (Ripple trust bank status), capital raises (Kalshi $1B, Pearl $130M), IPOs (Anthropic), and ETF outflows across major crypto assets.
Security & Exploits ·
Kalshi secured $1B in Series G funding at a $40B valuation, with Sequoia and Wellington leading the round. The prediction market platform's fundraise marks a significant capital infusion as the sector expands regulatory acceptance and mainstream adoption pathways.
The funding round reflects growing institutional confidence in event-based derivative platforms operating within US regulatory frameworks. Sequoia's participation included sharing materials from the company's original Series A, signaling long-term conviction in the investment thesis. The valuation and capital deployment suggest Kalshi is positioning for expanded market operations and infrastructure development as platforms in this category navigate compliance requirements and scale user bases.
The round's timing coincides with broader crypto capital-raising activity, including competing ventures raising substantially smaller amounts for adjacent infrastructure and GPU resources. Open questions include whether Kalshi will deploy capital toward product expansion, geographic reach, or regulatory infrastructure, and how the funding will shape competitive dynamics among prediction market operators seeking institutional and retail adoption.