The week of November 16-22, 2025, recorded $1.42 billion in crypto VC funding across 16 projects.
- 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
1/ We’ve officially raised $37M in a round led by @hiFramework, @LayerZero_Core, and @SkyEcosystem.
$2.5B will also be deployed by Sky into projects incubated by Obex.
Our mission: Provide teams with capital to launch innovative, yield-seeking stablecoin projects on Sky.
🧵👇 pic.twitter.com/2mjYMRLvGy
— Obex (@obexincubator) November 18, 2025
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
Today, we’re excited to announce our €30m Series A funding round.
Led by @speedinvest , along with @commerzventures and Latitude, and supported by existing investors Shapers, @HeadlineVC, Chalfen Ventures, and @triton_xyz (formerly Kraken Ventures), this round will enable us to… pic.twitter.com/4nn3oVWjYi
— Deblock (@DeblockApp) November 19, 2025
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
Read our last week’s crypto VC funding report from here.