October crypto industry funding reaches $1.65 billion, with Kalshi accounting for 61%

Odaily reports: In October 2026, venture capital funding in the crypto industry reached $1.65 billion, more than doubling from September, primarily driven by Kalshi's completion of a $1 billion Series G round. Kalshi's round accounted for 61% of total funding for the month. Excluding Kalshi, other projects raised $651 million, below September's industry-wide total of $665 million; excluding the month's top two funding projects, remaining funding was $451 million, roughly flat compared to September's $455 million. A total of 46 funding rounds were completed in October, up from 44 in September but below the 116 rounds in the same period of 2025. Seed and Pre-Seed funding rose 8% to $123 million across 20 rounds. The payments sector saw 12 deals totaling $342 million in funding, including Whop's $200 million raise. RWA sector funding totaled $137 million, with Spiko and Meanwhile raising $90 million and $37.5 million respectively. A total of 155 institutions participated in funding in October, up 16% from September; Tether participated in 4 funding rounds, making it the most active institution that month. Sequoia Capital participated in 3 rounds, all as lead investor. The top ten funding projects combined accounted for 91% of total monthly funding. Additionally, 13 M&A transactions were disclosed in the crypto industry in October, one more than in September, with none of the deals disclosing amounts.