BitMine Immersion Technologies · Strategy · Cointelegraph
Crypto’s billions are back, but the premiums aren’t
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Kalshi seeks a $40 billion valuation, while Blockchain.com targets an IPO and crypto treasury companies struggle to maintain their once-high valuations.
Key facts
- Kalshi is reportedly seeking $1 billion at a $40 billion valuation, nearly twice what it was worth
- Bitget initially reported $352 million lost before updating the figure to $388 million
- Prediction market platform Kalshi is reportedly in advanced talks to raise approximately $1 billion in a new funding round at a $40 billion valuation
- The company closed a $1 billion Series F round in May at a $22 billion valuation, doubling its valuation from December
Summary
Crypto companies are raising billions again, but investors are no longer handing out premiums indiscriminately. Kalshi is reportedly seeking $1 billion at a $40 billion valuation, nearly twice what it was worth in May. This week’s Crypto Biz looks at where investors are still willing to pay up, where the old crypto premium has disappeared and how Bitget is dealing with the fallout from a $388 million security breach. The crypto treasury model has largely lost its early advantage, with most digital asset treasury (DAT) companies no longer commanding the premiums that once helped them raise capital and accumulate crypto without diluting shareholders, according to DWF Ventures.