Kalshi Secures $300 Million to Bring Its Platform to a Global Audience

Presently in cryptocurrency, Bitcoin’s valuation might face increased fluctuations in the upcoming days, with prominent banks such as Bank of America, Goldman Sachs, Deutsche Bank, and Citi entering the stablecoin competition. Concurrently, the prediction platform Kalshi secured $300 million for a worldwide expansion.

Bitcoin may be ‘tossed around a bit’ amid Trump tariff anxieties: Executive

Swan Bitcoin CEO Cory Klippsten mentioned Bitcoin’s price fluctuations might not be finished after the cryptocurrency momentarily dropped to $102,000 on Friday, following US President Donald Trump’s declaration of a 100% tariff on Chinese imports.

“If the overall risk-off sentiment prevails, Bitcoin can be tossed around a bit before it discovers support and begins to decouple again,” Klippsten told Cointelegraph on Friday.

Klippsten noted that Bitcoin enthusiasts should prepare for some volatility in the next few days. “Macro-driven declines like this typically eliminate leveraged traders and weak hands, then reset positioning for the next upward move,” Klippsten articulated.

In the last 24 hours, approximately $2.19 billion in Bitcoin long positions have been liquidated, contributing to an overall total of $8.02 billion in long liquidations across the wider crypto market, according to CoinGlass.

Banks investigate launching a stablecoin connected to G7 currencies

A consortium of banks is engaged in the exploration of stablecoin launches centered around some of the globe’s most significant fiat currencies, including the US dollar, euro, and Japanese yen.

As per a Friday announcement from BNP Paribas, banks such as Bank of America, Goldman Sachs, Deutsche Bank, and Citi stated that they had initiated a project to examine the “issuance of a 1:1 reserve-backed form of digital currency that offers a stable payment asset available on public blockchains” linked to currencies from the Group of Seven (G7) nations: the United States, Canada, the United Kingdom, France, Germany, Italy, and Japan.

“The goal of the initiative is to assess whether a new industry-wide offering could deliver the advantages of digital assets and enhance competition within the market while guaranteeing full compliance with regulatory mandates and best practice risk management,” articulated the banks.

The announcement did not indicate a timeline for the endeavor, which would likely encounter competition from Tether’s USDt (USDT), the most predominant stablecoin by market capitalization.

Among US banks, their undertakings would likely be bolstered by the recent approval of the GENIUS Act, a bill aimed at regulating payment stablecoins, signed into law by US President Donald Trump in July. Although already legislated, GENIUS is not anticipated to take effect for another 15 months, or 120 days after the US Treasury and Federal Reserve finalize regulations regarding the bill.

Kalshi secures $300 million to broaden prediction markets to 140 nations

The US-based prediction marketplace Kalshi wrapped up another significant funding round to expand its platform to over 100 nations globally.

Kalshi finalized a Series D funding round of more than $300 million, spearheaded by Sequoia Capital and Andreessen Horowitz (a16z), with involvement from Paradigm, as announced on Friday.

The platform is now accessible in over 140 nations, Kalshi reported in a statement shared with Cointelegraph, noting that it has now become the “world’s sole unified global prediction market and has instantly added billions of new potential users.”

The recent $300 million funding comes months after Kalshi concluded a separate $185 million funding round in June, led by Paradigm and also included Sequoia.

Kalshi’s Series D funding elevated the firm’s valuation to $5 billion, an increase of $3 billion from its prior raise in June.

Along with Sequoia, a16z and Paradigm, the new funding round attracted additional financiers, including CapitalG, Coinbase Ventures, General Catalyst, and Spark Capital.

In the wake of a fundraising round valuing Kalshi at $5 billion, the platform also disclosed its international expansion with an immediate rollout in multiple new markets.

“International users can now access the platform through the Kalshi website with an identical product experience to American users,” stated the company.