This week's biggest funding round
Kalshi raised $1.1B in a funding round from .
Kalshi is a CFTC‑regulated prediction market exchange where users trade “event contracts” on real-world outcomes—ranging from politics and sports to economic indicators and weather. It allows participants to buy and sell binary contracts that resolve to $1 if the event occurs.
Pre-seed and Seed investment rounds
City Protocol (Cooking City, ex MagicSeven Co., Ltd.) raised $11M in a Seed funding round from Dragonfly Capital, CMT Digital, Stratified Capital, Bitscale Capital, Adaverse, Mirana Ventures, Jump Crypto.
City Protocol is a Web3 neofinance infrastructure platform that enables companies to launch branded tokenized financial products without building the entire technology stack from scratch. The project provides Tokenization-as-a-Service and Vault-as-a-Service solutions for RWAs, tokenized Treasuries, yield products, market-neutral strategies and other onchain investment products. Its infrastructure covers key processes including issuance, deposits, verification, portfolio management, NAV operations, subscriptions, redemptions, monitoring and reporting. City Protocol also offers a curated catalog of investment vaults and integrations across multiple blockchains, allowing partners to select the products and infrastructure they need. The platform is designed for institutions and businesses that want to launch customized crypto or neofinance products faster while retaining ownership of their brand and customer relationships.
Nara raised $500K in a Pre-seed funding round from YZi Labs (ex Binance Labs).
Nara is a stablecoin-native credit protocol bringing real-world payment financing on-chain. Its synthetic dollar, NaraUSD, is fully collateralized by short-term payment flows, while NaraUSD+ enables holders to earn yield generated from financing cross-border transactions. By connecting stablecoin liquidity with real-world receivables, Nara aims to provide sustainable, non-speculative yield and 24/7 settlement. Its omnichain infrastructure uses LayerZero technology to make Nara assets accessible across multiple blockchain networks and composable throughout DeFi.
FinTax raised undisclosed amount in a Seed funding round from YZi Labs (ex Binance Labs)*, Amber Group, Hash House, Pundi AI.
FinTax is a crypto-native finance and tax platform built for digital asset institutions. It covers the full accounting and tax workflow through an enterprise accounting suite, global tax solutions, blockchain audit tools, financial data aggregation, and advisory services. FinTax standardizes on-chain, exchange, off-chain, and enterprise data into auditable accounting records, supporting reconciliation, valuation, reporting, and compliance. Its infrastructure is designed for crypto companies, exchanges, mining businesses, asset managers, and audit firms managing complex digital asset operations.
Other investment rounds
NYDIG raised undisclosed amount in a M&A funding round from BitGo.
NYDIG is a vertically integrated Bitcoin, power, compute, and financial infrastructure company. Its institutional-grade platform provides Bitcoin custody, spot and derivatives trading, Bitcoin-backed financing, and white-label solutions that enable partners to offer Bitcoin accounts, rewards, and loyalty programs. NYDIG also develops and operates large-scale power and data center infrastructure supporting Bitcoin mining, high-performance computing, and AI workloads. By combining financial services, energy expertise, and compute infrastructure, NYDIG provides an integrated platform for institutions and businesses building Bitcoin-based products and services.
Chomp raised $3.6M in a funding round from BlueYard Capital*, Jsquare*, Accomplice Blockchain, Big Brain Holdings, No Limit Holdings (NLH), Reverie, Caballeros Capital.
CHOMP is a fast-paced quiz game and social consensus platform that rewards users for their insights. It applies research-based Wisdom of the Crowd mechanisms to distill collective responses into the most likely answers. Users answer questions, predict how others will respond, and earn rewards for accurate insights. By combining gamification with crowdsourced intelligence, CHOMP transforms diverse opinions into measurable consensus while revealing gaps between individual perceptions and collective beliefs.
Capital B (ex The Blockchain Group) raised $24.5M in a funding round from Adam Back, TOBAM.
Capital B, formerly The Blockchain Group, is a Euronext-listed Bitcoin Treasury Company based in France. Alongside holding BTC on its balance sheet, it develops solutions in data intelligence, AI, and decentralized technology. As Europe’s first Bitcoin Treasury Company, Capital B merges long-term crypto asset strategy with innovation in Web3 infrastructure and enterprise AI services.
RQD Clearing raised $74M in a funding round from Bain Capital Tech Opportunities*, Nyca Partners, ABN AMRO Clearing.
RQD Clearing is a technology-driven clearing and custody infrastructure provider for broker-dealers, RIAs, trading firms, and financial institutions accessing U.S. markets. Its cloud-native platform provides real-time clearing, custody, and execution capabilities with direct API integration, supporting U.S.-listed equities, options, and ETFs. RQD combines scalable infrastructure with automated account opening, real-time reporting, settlement, risk management, and multi-asset execution. The company is also expanding its capabilities around digital assets and tokenized securities, positioning its infrastructure to support institutional adoption of tokenized financial markets.
Alloco raised undisclosed amount in a funding round from YZi Labs (ex Binance Labs).
Alloco is an on-chain ETF issuance platform designed for institutional users. It enables tokenized investment products based on physical assets, systematic market strategies, thematic opportunities, global hedge fund portfolio structures, and public-figure market signals. By bringing professionally structured investment products on-chain, Alloco connects traditional asset-management concepts with blockchain-based issuance and access.
De1 raised undisclosed amount in a funding round from YZi Labs (ex Binance Labs).
De¹ is building an on-chain Financial World Model—a live, market-grounded intelligence layer connecting simulation with real-world execution. The platform routes transactions across on-chain and private liquidity, transforming verified execution outcomes into training data that continuously improves financial intelligence. Designed for traders and autonomous agents, De¹ supports trading, tokenized assets, stablecoin corridors, lending, insurance, and other programmable financial applications. Its infrastructure spans 40+ chains, combining multichain liquidity aggregation, privacy-preserving training, and verifiable market feedback.
TermMax (ex Term Structure) raised undisclosed amount in a funding round from YZi Labs (ex Binance Labs).
TermMax is a fixed-rate borrowing and lending marketplace built on a next-generation loan AMM. The protocol enables users to lock predictable interest rates, amplify yields via one-click leveraged positions, and earn passively through curator-managed vaults. Supports multiple chains; secured by Immunefi bug bounty, Cantina audits, and Hypernative monitoring. Developed by Term Structure Labs.
Kravata raised undisclosed amount in a funding round from YZi Labs (ex Binance Labs).
Kravata is a fintech infrastructure platform that enables banks, fintechs, telcos, and businesses to embed stablecoin-powered financial services across Latin America through a single integration. Its modular stack provides stablecoin accounts, fiat on/off ramps, custody, local and cross-border payments, liquidity, yield, and multi-currency accounts via APIs, white-label widgets, and web applications. By managing regulatory requirements, compliance, banking relationships, and liquidity infrastructure, Kravata helps partners efficiently launch and scale stablecoin-based financial products while connecting regional businesses to global financial rails.
ORO (ex Oroswap) raised $3M in a Strategic funding round from MH Ventures*, Mapleblock Capital*, M2M Capital, Archer Capital, x21 Digital, BlockRise, Zerone Venture, Beenco Labs, Velion Venture, Disrupt.com, ZIGChain.
ro is an AI-powered financial execution platform that transforms natural-language intent into policy-guarded onchain actions. Its conversational interface enables users and institutions to swap, stake, lend, bridge, research assets, discover yield opportunities, and manage portfolios across multiple protocols and blockchain ecosystems. Oro combines non-custodial architecture with its proprietary Shield Engine, which simulates transactions before execution and presents them for user approval. The platform also provides an API, allowing third-party applications to integrate conversational DeFi execution while users retain control of their assets and private keys.
SmartX raised undisclosed amount in a funding round from YZi Labs (ex Binance Labs).
SmartX is a personalized social trading app for memes, perpetuals, stocks, and prediction markets. It combines market discovery, verified trader performance, social insights, and trade execution in one platform. Users can follow traders with track records backed by real positions and PnL, discover personalized opportunities, and execute trades directly from their feed. Traders can share position-backed insights, grow their audience, and monetize their influence. SmartX provides a unified trading experience across multiple markets while abstracting complexities such as chains, gas, and bridging.
Primus Labs (ex Pado) raised undisclosed amount in a funding round from YZi Labs (ex Binance Labs).
Primus Labs, formerly known as PADO, is a cryptographic infrastructure platform dedicated to enhancing data interoperability between Web2 and Web3 systems. By leveraging advanced cryptographic technologies such as zero-knowledge Transport Layer Security (zkTLS) and zero-knowledge Fully Homomorphic Encryption (zkFHE), Primus enables secure, permissionless data verification and computation. This approach allows developers to seamlessly integrate off-chain data with blockchain and AI applications, ensuring data authenticity and privacy without exposing sensitive information.
Facto raised undisclosed amount in a funding round from YZi Labs (ex Binance Labs).
Facto is a stablecoin payment infrastructure platform that enables users to spend directly from onchain, savings, and spending accounts without maintaining a separate prefunded balance. Its API provides payment providers with real-time authorization based on users’ available purchasing power, including funds held in yield-generating onchain vaults. Facto separates authorization from settlement, allowing transactions to be approved in milliseconds while settlement occurs asynchronously. This enables stablecoins and onchain assets to function more like everyday money across existing card and payment rails.
Liquorice raised undisclosed amount in a funding round from YZi Labs (ex Binance Labs).
Liquorice is a DeFi protocol offering one-sided lending pools integrated with a MEV-free trading engine, tailored to facilitate liquidity in intent-based trading systems. The platform addresses inventory issues in DeFi by providing per-asset lending pools utilized by Private Market Makers (PMMs). Liquorice simplifies access to DeFi for PMMs by integrating with core aggregators like 1inch, Uniswap X, and CoW Swap, ensuring optimal liquidity. The offchain engine selects the best quotes from connected market makers, enabling gasless and efficient transactions.
XHunt raised undisclosed amount in a funding round from YZi Labs (ex Binance Labs).
XHunt is an AI-powered cryptocurrency analytics platform that provides coin screening, social sentiment tracking, and data-driven insights for crypto projects. It combines AI models with social and market data to evaluate KOL influence, monitor project discussions, identify emerging narratives, and analyze cryptocurrency trends. XHunt helps investors, creators, KOLs, and Web3 teams discover opportunities and make informed decisions through AI search, token research, community intelligence, and influencer analytics.
Neutral Trade raised undisclosed amount in a funding round from YZi Labs (ex Binance Labs).
Neutral Trade is an on-chain, multi-strategy hedge fund platform designed to democratize access to sophisticated trading strategies. Built by experienced quants and traders from Goldman Sachs and a top global hedge fund, it offers a range of quantitative strategies and structured products aimed at maximizing risk-adjusted returns.
ElfomoFi raised undisclosed amount in a funding round from YZi Labs (ex Binance Labs).
ElfomoFi is a hybrid proprietary AMM (Prop-AMM) built for EVM networks, designed to bring CEX-like pricing and execution onchain. The protocol uses market-aware, oracle-driven pricing and actively managed liquidity, with order flow routed through DEX aggregators and solvers. ElfomoFi also offers public vaults that give users access to delta-neutral market-making strategies and yield-bearing el-Tokens. Its curator infrastructure enables external trading firms to deploy and operate their own Prop-AMMs without building the underlying execution, routing, vault, and smart contract stack from scratch.
Hertzflow raised undisclosed amount in a Angel funding round from Cedric, Leo Zhang, Mirror Tang, Richard Liu, Ryan Li, Shane Qiu, Wee Kee, Winchman Renaiss, Xin Yan, Henry, Yisi Liu.
Hertzflow is a decentralized leverage trading platform that lets users create and trade permissionless leveraged markets for a wide range of assets — including crypto, forex, equities, indices, and commodities — directly from wallets. It uses a unified liquidity pool (HzLP) to ensure deep liquidity and low‑friction execution, allowing traders to enter and exit large leveraged positions confidently. Liquidity providers earn real yield from trader P&L and fees.
Fasset raised $68M in a Series C funding round from SBI Holdings (SBI Group)*.
Fasset is a fast-growing onchain neobank and stablecoin-powered Islamic digital banking platform designed for emerging markets. It offers USD accounts, global payments, crypto spending cards, digital asset trading, staking, and access to tokenized real-world assets. Built fully on blockchain infrastructure, Fasset delivers interest-free financial services that bridge traditional banking and digital assets for individuals and businesses worldwide.
entropy.io raised $14M in a funding round from Ribbit Capital*.
Entropy is a decentralized perpetual futures exchange on Hyperliquid focused on instruments tracking private startup equity and other real-world assets. Built as a HIP-3 market deployer, it brings traditionally hard-to-access markets onchain, enabling crypto-native traders to gain exposure to private companies such as Anthropic. Entropy leverages Hyperliquid’s trading infrastructure and liquidity to expand access to frontier markets, including private companies, equities, commodities, and indices.
* fund, that lead investment round

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