Headline: Weekly crypto funding roundup — Kalshi nets $1B Series G at $40B valuation; HIVE secures $129M GPU loan; PhotonPay raises $40M Summary: Crypto and crypto-linked firms disclosed at least $1.24 billion in financing activity across 10 announced transactions during Oct. 24–30. The biggest headline was Kalshi’s $1 billion Series G, while Ibis unveiled a separate $250 million institutional credit facility. Debt financings and secondary share sales were included in the tally. Deal lists were compiled from Crypto Fundraising and CryptoRank and verified against company announcements. Top deals - Kalshi — $1.0 billion Series G (announced Oct. 29) - Co-led by Wellington Management and Sequoia; participants included Baillie Gifford, Andreessen Horowitz, Coatue, CapitalG and Morgan Stanley Investment Management. - Reported post-money valuation: $40 billion. - Proceeds to fund institutional sales/distribution, product development and international expansion (priority regions: Latin America and Europe). Planned products include indices, single-stock perpetual futures and compute markets. - Company-reported scale: over 30 million accounts and annualized trading volume exceeding $1 trillion. Kalshi has said the capital will help expand beyond prediction markets. - HIVE Digital Technologies (BUZZ Alpha Cloud) — ~C$179M (~$129M) loan (announced Oct. 27) - Three-year, fixed-rate facility at 9% per annum from an institutional lender to finance Nvidia GPU systems and related infrastructure for a Canadian deployment tied to a previously announced Cohere contract. - Loan is secured by the equipment and related assets, with a limited-recourse guarantee from BUZZ HPC. No common shares will be issued; repayment expected from contract revenue. - PhotonPay — $40 million Series C - Led by Blockchain Capital; SBI Group joined existing investors IDG Capital, GL Ventures and Lightspeed Faction. - Hong Kong-based PhotonPay connects stablecoin liquidity to banking and payment rails for corporate spending and settlement. Plans include multi-asset wallets, global card issuance and local clearing infrastructure. - Reported scale: $65 billion in annualized transaction volume (as of August) and more than 200,000 business customers. Other announced financings and strategic moves - Hyperbolic — $30 million Series A1 (Oct. 27) - Led by Walden Catalyst; Dell Technologies Capital, General Catalyst and Vista Equity Partners participated. Funds to support Forge software, cloud coordination services and a planned GPU-capacity marketplace. - Luxor — $16 million strategic round - Led by CMT Digital with Canaan, MicroBT, Halo and Steelhead. Round mixes fresh capital and secondary share sales to accelerate AI hardware, cloud services and compute derivatives. - Predicate — $8 million Series A - Led by Blockchain Capital; Paxos named as a new strategic investor. Cumulative funding now about $15 million. Predicate focuses on embedding compliance screening into digital-asset flows. - Cancore — $7.2 million seed - Backers include Paper Ventures, dao5 and ArkStream Capital. Funding to expand connections between Canton assets and public-chain liquidity. - Spicenet — $5 million Series A - Led by dao5 with participation from Babylon and Astrarizon. Proceeds to support brokerage products, token launch and network liquidity. - Mochatrade — $4.87 million seed - Separates out a previously reported $690,000 pre-seed; cumulative funding now $5.56 million. CoinFund led the round, with Coinbase Ventures participating (reported by The Block). - Birch Hill — $4 million seed - Led by Multicoin Capital with ParaFi, Castle Island Ventures and Nascent. Building infrastructure to bring U.S. credit onto public blockchains. - Ibis — launched with $250 million credit capacity and an undisclosed pre-seed - Secured FalconX credit capacity of $250 million and raised a pre-seed round with FalconX, Anchorage Digital and Innovating Capital. - IOSG Ventures — undisclosed investment in payments infrastructure provider Fun (reported by KuCoin, Oct. 26). - ICE — undisclosed strategic stake in Trade[XYZ] - Alongside plans for regulated U.S. perpetual markets subject to regulatory approvals. - Stellar Development Foundation — undisclosed investment in Marketnode - Aimed at expanding institutional access to tokenized financial products across the Asia-Pacific region. Methodology: Crypto Fundraising and CryptoRank provided initial deal lists; reporters cross-checked with company disclosures and public statements for the specifics above. If you’d like, I can turn this into a Twitter thread, a short newsletter blurb, or a more detailed breakdown of any single deal. Read more AI-generated news on: https://app.chaingpt.org/news