Kalshi dominates with $1B investment, Kraken bags $200M

AhmadJunaidCrypto NewsNovember 22, 2025363 Views

The week of November 16-22, 2025, recorded $1.42 billion in crypto VC funding across 16 projects.

Summary

Crypto VC funding hit $1.42B across 16 deals, led by Kalshi’s huge $1B raise.
Kraken added $200M at a $20B valuation, while Doppel raised $70M in Series C.
Smaller rounds included WizzWoods ($10M), Solomon Labs ($8M), and RateX ($7M).

As per the data, Kalshi’s $1 billion raise led this strong funding period that featured multiple nine-figure investments across trading platforms and infrastructure ventures.

Here’s a breakdown of this week’s crypto VC activity as per Cryptofundraising data:

Kalshi

Kalshi raised $1 billion in an unknown round
Fully diluted valuation of $11 billion
The investment was backed by Sequoia, CapitalG, and AI6Z
The regulated prediction market exchange has raised $1.52 billion so far

Kraken

Secured $200 million in an unknown round
Kraken has a fully diluted valuation of $20 billion
The investment was backed by Haun Ventures
Part of $800 million total fundraising across two tranches for global expansion

Doppel

Doppel raised $70 million in a Series C round
Investors include Bessemer Venture Partners, AI6Z, and South Park Commons
The AI-powered digital risk protection platform has raised $124 million so far

Obex

Obex bagged $37 million in an unknown round
Investment was backed by Framework, LayerZero Labs, and Sky

Deblock

Deblock raised $35 million in a Series A round
Investors include Speedinvest, Commerz Ventures, and Latitude
The crypto wallet has raised $63.81M so far

Numerai

Secured $30 million in a Series C round
Numerai has a fully diluted valuation of $500 million
Investment was backed by Union Square Ventures and Shine Capital
The project has raised $51.5 million so far

Projects Under $30 Million

WizzWoods, $10 million in a series A round
Solomon Labs, $8 million in a public sale with $20.64 million fully diluted valuation
RateX, $7 million in a strategic round
Immunefi, $5 million in a public sale with $133.70 million fully diluted valuation
HelloTrade, $4.6 million in a seed round
BOB (Build on Bitcoin), $4.2 million in a public sale
0xbow, $3.5 million in a seed round
ZENi, $1.5 million in a seed round
Mu Digital, $1.5 million in an unknown round
Vooi, $1.25 million in a public sale