Data: October crypto industry funding reached $1.65 billion, with Kalshi accounting for 61%

BlockBeats news, November 9 — according to CryptoRank data, crypto industry venture capital funding reached $1.65 billion in October 2026, more than doubling from September, primarily driven by prediction market platform Kalshi completing a $1 billion Series G funding round. Excluding Kalshi, funding for other projects totaled $651 million, below September's industry-wide $665 million, indicating that the funding recovery was concentrated in a few large deals.

The industry completed 46 funding rounds in October, only a slight increase from 44 rounds in September and far 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 was the most active, with 12 deals totaling $342 million in funding, including Whop raising $200 million. RWA sector funding totaled $137 million, with Spiko and Meanwhile raising $90 million and $37.5 million respectively. Institutional participation rebounded for the second consecutive month, with 155 institutions participating in funding in October, up 16% from September but still far below the 353 institutions in the same period last year.

Tether participated in 4 funding rounds, making it the most active institution of the month; Sequoia Capital participated in 3 rounds and led all of them. Funding concentration remained high, with Kalshi's single round accounting for 61% of the month's total venture capital funding, and the top ten funding projects combined accounting for 91%.

Excluding the month's top two funding projects, remaining funding totaled $451 million, roughly flat with September's $455 million. In addition, the crypto industry disclosed 13 M&A transactions in October, one more than in September, but none of the transactions disclosed their amounts.