Summary
- October venture investment in the crypto industry rose to $1.65 billion, more than doubling from the previous month, but 61% of the total was concentrated in Kalshi.
- The total number of investment deals in October edged up to 46 from September, but the top 10 deals accounted for 91% of all funding.
- The payments and real-world assets (RWA) sectors attracted $342 million and $137 million, respectively, with Tether and Sequoia Capital among the most active participants.
Forecast Trend Report by Period
Crypto companies raised $1.65 billion in venture funding in October, more than double the previous month, according to crypto-focused media outlet Odaily. Still, 61% of the total was concentrated in prediction-market platform Kalshi.
Kalshi raised $1 billion in a Series G round last month, Odaily reported on November 9. Excluding that deal, all other projects raised a combined $651 million, less than the industry's total of $665 million in September.
Excluding the two largest deals, funding totaled $451 million, little changed from $455 million in September. The total number of deals in October rose slightly to 46 from 44 in September, but remained far below 116 in the same month last year.
In early-stage funding, seed and pre-seed investment rose 8% from a month earlier to $123 million, with 20 deals completed.
By sector, payments attracted 12 deals worth a combined $342 million, including Whop's $200 million raise. In real-world assets, or RWA, total funding reached $137 million, with Spiko and Meanwhile raising $90 million and $37.5 million, respectively.
A total of 155 institutions participated in deals last month, up 16% from September. Tether was the most active investor, participating in four deals, while Sequoia Capital took part in three, leading all of them.
The top 10 deals accounted for 91% of total funding. The crypto industry also disclosed 13 mergers and acquisitions over the same period, though not all transaction values were made public.
Minseung Kang
