{"id":16897,"date":"2025-10-11T13:42:41","date_gmt":"2025-10-11T11:42:41","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=16897"},"modified":"2025-10-11T13:42:41","modified_gmt":"2025-10-11T11:42:41","slug":"kalshi-secures-300-million-to-bring-its-platform-to-a-global-audience","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/10\/11\/kalshi-secures-300-million-to-bring-its-platform-to-a-global-audience\/","title":{"rendered":"Kalshi Secures $300 Million to Bring Its Platform to a Global Audience"},"content":{"rendered":"

“`html<\/p>\n

\n

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.<\/p>\n

Bitcoin may be \u2018tossed around a bit\u2019 amid Trump tariff anxieties: Executive<\/h2>\n

Swan Bitcoin CEO Cory Klippsten mentioned Bitcoin\u2019s price fluctuations<\/a> might not be finished after the cryptocurrency momentarily dropped to $102,000 on Friday, following US President Donald Trump\u2019s declaration of a 100% tariff on Chinese imports.<\/p>\n

\u201cIf the overall risk-off sentiment prevails, Bitcoin can be tossed around a bit before it discovers support and begins to decouple again,\u201d Klippsten told Cointelegraph on Friday.<\/p>\n

Klippsten noted that Bitcoin enthusiasts should prepare for some volatility in the next few days. \u201cMacro-driven declines like this typically eliminate leveraged traders and weak hands, then reset positioning for the next upward move,\u201d Klippsten articulated.<\/p>\n

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<\/a> to CoinGlass.<\/p>\n

Banks investigate launching a stablecoin connected to G7 currencies<\/h2>\n

A consortium of banks is engaged in the exploration of stablecoin launches<\/a> centered around some of the globe\u2019s most significant fiat currencies, including the US dollar, euro, and Japanese yen.<\/p>\n

As per a Friday announcement from BNP Paribas, banks such as Bank of America, Goldman Sachs, Deutsche Bank, and Citi stated<\/a> that they had initiated a project to examine the \u201cissuance of a 1:1 reserve-backed form of digital currency that offers a stable payment asset available on public blockchains\u201d linked to currencies from the Group of Seven (G7) nations: the United States, Canada, the United Kingdom, France, Germany, Italy, and Japan.<\/p>\n

\u201cThe 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,\u201d articulated the banks.<\/p>\n

The announcement did not indicate a timeline for the endeavor, which would likely encounter competition from Tether\u2019s USDt (USDT), the most predominant stablecoin by market capitalization.<\/p>\n

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<\/a> 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.<\/p>\n

Kalshi secures $300 million to broaden prediction markets to 140 nations<\/h2>\n

The US-based prediction marketplace Kalshi wrapped up another significant funding round<\/a> to expand its platform to over 100 nations globally.<\/p>\n

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.<\/p>\n

The platform is now accessible in over 140 nations, Kalshi reported in a statement shared with Cointelegraph, noting that it has now become the \u201cworld\u2019s sole unified global prediction market and has instantly added billions of new potential users.\u201d<\/p>\n

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

Kalshi\u2019s Series D funding elevated the firm\u2019s valuation to $5 billion, an increase of $3 billion from its prior raise in June.<\/p>\n

Along with Sequoia, a16z and Paradigm, the new funding round attracted additional financiers, including CapitalG, Coinbase Ventures, General Catalyst, and Spark Capital.<\/p>\n

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.<\/p>\n

\u201cInternational users can now access the platform through the Kalshi website with an identical product experience to American users,\u201d stated the company.<\/p>\n