Crypto Funding Reaches $1.65 Billion in October, Kalshi Accounts for 61%

Crypto venture funding totaled $1.65 billion in October 2026, more than double September’s amount, with Kalshi’s $1 billion Series G round accounting for 61% of the monthly total. According to Odaily, funding excluding Kalshi was $651 million, below the $665 million raised across the entire industry in September. Excluding the month’s two largest fundraises, funding was $451 million, roughly level with September’s $455 million. The industry recorded 46 funding rounds in October, up from 44 in September but below the 116 rounds in the same month of 2025. Seed and pre-seed funding rose 8% to $123 million across 20 rounds. Payments companies recorded 12 deals totaling $342 million, including a $200 million round for Whop. RWA funding totaled $137 million, with Spiko raising $90 million and Meanwhile raising $37.5 million. A total of 155 institutions participated in funding rounds, up 16% from September. Tether participated in four rounds, the most of any institution, while Sequoia Capital took part in three rounds, leading each. The 10 largest fundraises accounted for 91% of October’s total. The industry also disclosed 13 mergers and acquisitions, one more than in September; none of the deal values were disclosed.