Kalshi's $40B Valuation Reveals What VCs Miss About EM
Kalshi raised $1 billion at a $40 billion valuation while VC mega-rounds ignore the prediction market infrastructure already live in Argentina, Nigeria, and Turkey.
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Kalshi raised $1 billion at a $40 billion valuation while VC mega-rounds ignore the prediction market infrastructure already live in Argentina, Nigeria, and Turkey.
DeFi yields swung 15 points in 72 hours. Binance lost $6.3B to North Korea. Polymarket paused after a supply-chain breach. Here's what mattered Oct 25-Nov 1.
Polymarket halted trading after a DebugBear supply-chain breach drained $2.73 million from 737 accounts. This is the third third-party vendor compromise in ten months.
DeFi yields swung 15 percentage points in days. Stablecoin rates compressed across protocols. Institutional infrastructure launched. Here's what mattered Oct 18-25.
Initia paused operations October 24 after an infinimint exploit allowed attackers to mint 2 million unbacked AUSD tokens and drain $2.6 million in crypto assets.
Germany's largest retail banking network began rolling out crypto trading October 19, with XRP among five initial assets. Staged expansion could onboard 50 million customers by mid-2027.
Ledger's supply-chain attack drained $102M while Blur marketplace collapsed and infrastructure for passive yield moved from speculation to settlement rails.
Strive bought 3,311 BTC for $280 million using warrant exercises and share issuance, increasing outstanding shares by 9.4% while avoiding debt financing.
Meanwhile raised $37.5 million for Bitcoin-denominated life insurance. The funding round led by Bain Capital Crypto signals a shift in how institutional capital views BTC yield.
Wallet security failures dominated as D'CENT lost $20M across five chains. Meanwhile, yield strategies shifted toward structure over hype, and airdrop farming hit detection limits.
Robinhood disclosed $25M in Bitcoin on its balance sheet, marking its first corporate holding. The move signals institutional legitimacy for BTC treasury allocation and shifts regulated income access.
OKX and NYSE parent ICE announce joint venture for tokenized US stock trading following SEC regulatory clarity. What this means for onchain equity income access.
Uniswap V3 yields collapsed 10.65 points in days. Aave USDe dropped 4.16pp. Compound jumped 2.76pp. The week revealed which rates are structural and which vanish overnight.
The week brought $292M in exploit litigation, institutional DeFi custody infrastructure, and evidence that most yield positions break silently before you notice.
KelpDAO filed a lawsuit against LayerZero over the April 18 exploit that drained 116,500 rsETH worth $292 million, alleging the protocol endorsed the vulnerable configuration.
Bitget confirmed a $351.6M hot wallet breach via spoofed backend transfer data. Withdrawals remain frozen. Here's the counterparty risk exposure for DeFi users.