Kalshi Seeks $750M at $40B Valuation From Sequoia, Wellington
Wellington's $1.3T-AUM debut on Kalshi's cap table, alongside a 2027 IPO runway and $4B annualized revenue, reframes prediction markets from crypto curiosity to institutional asset class.
Market-moving crypto headlines from the last 24 hours.
Wellington's $1.3T-AUM debut on Kalshi's cap table, alongside a 2027 IPO runway and $4B annualized revenue, reframes prediction markets from crypto curiosity to institutional asset class.
The $31M quarter is only half the story. The other half is Hyperion building the HIP-3 and HIP-4 rails with the very tokens that drove the gain.
The Japanese firm paused purchases for months while quietly engineering a credit-arbitrage structure, and is now turning to investors to finance the next accumulation leg.
A 1% slice of the $9.9T 401(k) market alone would channel roughly $99B into Bitcoin, and that flow needs zero new exchange sign-ups.
Record $62.7M subscription, services and other revenue cushioned softer trading, but the large reported loss keeps Bullish's earnings mix and full-year guidance in focus.
The 2,500-BTC total matters more than the latest $50.72M tranche, with the whale's remaining BTC keeping distribution pressure alive.
The surprise strengthens the disinflation narrative and can support rate-sensitive risk assets, while the Fed still weighs broader inflation and labor data.
A BRL wrapper around Strategy's STRC preferreds is the structural read: monthly USD forwards neutralize the FX drag so Brazilian holders capture the preferred yield.
A 1-3 day settlement cycle is the target. Real-time 24/7 onchain JGB repo settlement would reset Japan's bond plumbing, with MUFG following the JPMorgan Kinexys playbook for US Treasuries.
The gains make distribution a central adoption variable, with institutional capital reaching on-chain dollar products through more than one network.
The shift intensifies competition in tokenized equities, while Ondo's roughly $927M lead keeps issuer scale at the center of the real-world asset market.
Temporary energy relief did not materially soften the Dollar Index, leaving Bitcoin with little macro support despite July's milder headline.
The zero-gas paper-trading arena mirrors Polymarket's full market structure, giving quant builders a risk-free proving ground before real capital goes live.
Buybacks and burns give investors a direct value-accrual lens, while Hougan argues token prices have yet to reflect the revenue shift.
DOGE futures positioning has nearly returned to October levels in coin terms, leaving a crowded long trade exposed to forced selling if the token falls further.
Goldman already had a Bitcoin Premium Income ETF on file with the SEC since April. Buying Neos, with over $1B already in BTCI, lets it leapfrog BlackRock's BITA on day one rather than waiting out a…
The proposed securities-registration off-ramp would move faster than the stalled Clarity Act, but a 2-3 month comment period and another vote still stand between proposal and adoption.
The participation of major banks, an asset manager and a market maker shifts tokenization from a crypto concept toward a test of mainstream financial plumbing.
Three prediction-market platforms just received council letters over marketing aimed at younger users, landing days after the CFTC pulled Kalshi back from a state shutdown and a $36B NY AG suit.
Developers say the flaw was patched before any known exploit, but the market selloff lays bare how quickly trust collapses around a privacy coin when the integrity of its hidden supply is questioned.