Web3 Giants Raise War Chests Prediction Market Kalshi Raises $185mn At $2bn Valuation.

Web3 Giants Raise War Chests Prediction Market Kalshi Raises $185mn At $2bn Valuation.

Kalshi, a prediction market and competitor to Polymarket, has reportedly closed a $185 million funding round that values the company at $2 billion, indicating growing investor appetite for the emerging sector.

The round was led by crypto investment company Paradigm, with participation from venture capital companies Sequoia Capital, Multicoin Capital and other investors.

Founded in 2018 by Mansour and Luana Lopes Lara, Kalshi previously raised a total of $156 million in capital, according to PitchBook.

Kalshi’s latest funding comes amid reports that its main competitor, Polymarket, is expected to close a $200 million round at a $1 billion valuation. A key distinction between the two is that Kalshi is federally regulated and authorized to operate in the United States, while Polymarket is not.

Pompliano’s Crypto Firm ProCap Raises $750mn To Go Public Via SPAC.

Anthony Pompliano has raised $750 million to take his crypto firm, ProCap, public in the US by merging with the blank-check firm Columbus Circle Capital Corp.

The combined companies will debut as ProCap Financial Inc. with $1 billion in Bitcoin (BTC) on its balance sheet after the merger, which is expected to close before the end of this year, the companies said on Monday.

Columbus is a Special Purpose Acquisition Company (SPAC), a shell company created to acquire or merge with an existing private company to bring it public, which the the Financial Times reported on June 13 would take Pompliano’s ProCap public.

Digital Asset, Builder Of Privacy-focused Blockchain Canton, Raises $135mn

Digital Asset, the builder of privacy-focused blockchain Canton Network, raised $135 million in a strategic funding round led by DRW Venture Capital and Tradeweb Markets.

The round also included a mix of big-name institutions from traditional finance and crypto, including BNP Paribas, Circle Ventures, Citadel Securities, IMC Trading, Depository Trust & Clearing Corporation (DTCC), Virtu Financial, Paxos and others.

The capital raise will expand the reach of RWAs onto Canton, which currently includes bonds, money market funds, alternative funds, commodities, repurchase agreements (repos), mortgages, life insurance and annuities.

Zama Raises $57mn, Becomes First Unicorn Involved With Fully Homomorphic Encryption.

Zama, a cryptography company pioneering fully homomorphic encryption (FHE) for blockchains, said it raised $57 million in a series B round co-led by Blockchange Ventures and Pantera Capital.

The team said the fundraise pushes Zama’s total capital raised to over $150 million and values it at over $1 billion, making the firm the first unicorn involved with FHE.

The Zama protocol allows developers to build encrypted decentralized applications (dapps) without needing deep cryptographic expertise

Zama’s series A round, in which it raised $73 million, was led by Multicoin Capital and Protocol Labs.

CoinFund-backed Veda Raises $18mn As Stablecoin Yield Becomes ‘Inevitable’.

Decentralized finance protocol Veda has raised $18 million to accelerate the adoption of its vault platform, which enables asset issuers to build crosschain yield products, including yield-bearing stablecoins.

The funding round was led by venture capital firm CoinFund, with additional participation from Coinbase Ventures, Animoca Ventures, BitGo, Mantle EcoFund, GSR, Relayer Capital, PEER VC, Draper Dragon, Credit Neutral, Neartcore and Maelstrom, the company disclosed Monday.

Veda’s angel investors include the co-founders of Anchorage, Ether.Fi and Polygon.

The total monetary value of assets locked on Veda has eclipsed $3.3 billion, according to industry data.

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