Financing Weekly Report | 18 public financing events, the prediction market platform Kalshi completed $1 billion in financing, with a new valuation of $11 billion.

Highlights of this issue

According to incomplete statistics from PANews, there were 18 investment and financing events in the global blockchain sector last week (11.17-11.23), with a total funding scale exceeding 1.334 billion USD; in addition, the total amount of financing for listed companies' cryptocurrency asset reserves exceeded 300 million USD, as summarized below:

• DeFi reported 6 financing events, among which the Solana ecosystem yield trading protocol RateX completed a new financing of $7 million, with participation from Animoca Ventures and others;
• Web3+AI sector announced 2 investment financing events, including AI agent smart data layer ZENi completing $1.5 million seed round financing, led by Waterdrip Capital and Mindfulness Capital;
• Infrastructure & Tools sector announced 3 financing events, among which Layer 1 decentralized autonomous smart chain CratD2C received a $30 million strategic investment from Nimbus Capital;
• Decentralized Finance sector announced 3 investment events, among which the French crypto bank fintech company Deblock completed a 30 million euro Series A financing;
• Other Web3 applications announced 4 funding events, among which the Web3 game WizzWoods completed a $10 million Series A funding round, led by Animoca and IVC;
• In addition, 1 publicly listed company has completed financing for a cryptocurrency treasury strategy: the publicly listed company Onfolio Holdings raised $300 million.

DeFi

The DeFi platform TRONBANK has received strategic investments from multiple institutions, with BlockX leading with an investment of $10 million

The TRONBANK, a provider of infrastructure for the Tron ecosystem, announced that it has secured strategic investments from five international institutions, with BlockX leading the round with $10 million. Other participating institutions include: Sky Venture Labs, K300 Ventures, Blockin.Ventures, and Onebit Ventures. According to reports, TronBank is a DeFi platform on the Tron blockchain, providing energy leasing, TRX staking, and on-chain yield services through secure and transparent smart contracts. TRONBANK is currently focusing on three major areas: energy leasing, TRX staking finance, and yield optimization mechanisms.

Solana ecosystem yield trading protocol RateX completes $7 million in new financing, with participation from Animoca Ventures and others

The Solana ecosystem yield trading protocol RateX has completed a total of $10.4 million in funding over the past two years. The latest funding round raised $7 million, with investors including Animoca Ventures, ECHO, GSR, Crypto.com Capital, Gate, Rzong Capital, BGX Capital, and Summer Capital.

According to the introduction, the protocol helps users trade and manage yields through tokenized financial products, with the recent Mooncake upgrade supporting non-custodial leveraged token trading. In June of this year, the publicly listed company DeFi Development Corp. strategically integrated its staking tokens with the RateX ecosystem to obtain additional yield strategies.

Blockchain trading platform HelloTrade, founded by former BlackRock executives, completes $4.6 million in funding, led by Dragonfly Capital

The blockchain trading platform HelloTrade, founded by former BlackRock executives, has completed a $4.6 million Series A funding round, led by Dragonfly Capital, with participation from Mirana Ventures and several angel investors. The company was co-founded by Kevin Tang, former senior director of BlackRock's digital assets team, and Wyatt Raich, former engineering head of the digital assets lab, aiming to provide convenient access to U.S. stocks and commodities investments for overseas investors in countries like Vietnam and Indonesia through blockchain technology. The platform will support derivatives such as perpetual futures and is expected to launch from the end of this year to early next year.

Mu Digital completes $1.5 million Pre-Seed funding round, focusing on bringing high-yield credit from Asia on-chain

Mu Digital announced that it has completed a $1.5 million Pre-Seed funding round, with investors including UOB Venture Management, Signum Capital, CMS Holdings, Cointelegraph Accelerator, and Echo. Mu Digital focuses on bringing real assets from Asia's $20 trillion credit market on-chain and plans to launch the Monad mainnet on November 24. The products include the Asia Dollar (AZND) which targets a yield of 6–7% and muBOND which offers a yield of up to 15%.

Takadao completes $1.5 million seed round financing and launches LifeCard for stablecoin consumption

The Web3 financial platform Takadao, headquartered in Riyadh, Saudi Arabia, with an office in Singapore, announced the completion of a $1.5 million seed round financing, with participants including Hasan VC (Malaysia), Syla Invest (France), Wahed Ventures (UK), Ice Blue Fund (Japan), Istari Ventures (USA), Adverse (Saudi Arabia), and Draper Associates from Silicon Valley, USA. The total financing has reached approximately $3.1 million (including previous pre-seed rounds and other investments). Additionally, Takadao also launched LifeCard, a prepaid VISA card that allows users to spend stablecoins like cash at any location that supports VISA.

The USD.AI development team Permian Labs announces it has received investment from Coinbase Ventures

The development team of USD.AI, Permian Labs, announced that it has received investment from Coinbase Ventures, although the specific amount has not been disclosed. USD.AI is a structured on-chain credit system that connects decentralized liquidity with real-world financing supported by AI GPU infrastructure. It is reported that Permian Labs is responsible for developing and maintaining the USD.AI protocol, which aims to facilitate on-chain secured lending operations using verifiable productive assets as collateral. USD.AI is also the issuer of the stablecoin USDai and the yield-bearing sUSDai, both of which are foundational tokens of the protocol.

AI

Numerai completes $30 million funding at a valuation of $500 million

The AI-based decentralized hedge fund Numerai has completed a $30 million financing round at a valuation of $500 million, led by university endowment funds, marking a fivefold increase from its previous valuation in 2023. Existing investors, including Union Square Ventures, Shine Capital, and Paul Tudor Jones, also participated in this round of financing.

AI agent smart data layer ZENi completes $1.5 million seed round financing, led by Waterdrip Capital and others

AI agent intelligent data layer ZENi has announced the completion of a $1.5 million seed round financing, led by Waterdrip Capital and Mindfulness Capital, with participation from Rootz Labs, Attention Ventures, DePIN-X, and Metalabs Ventures. According to the introduction, ZENi is an intelligent data layer that supports AI agents and the emerging information financial (InfoFi) economy. It plans to build a data intelligence backbone relied upon by AI agents, transforming online and on-chain signals into structured intelligent information and achieving automated execution.

Infrastructure & Tools

Layer1 Decentralized Autonomous Smart Chain CratD2C Secures $30 Million Strategic Investment from Nimbus Capital

Layer 1 Decentralized Autonomous Smart Chain (DASC) CratD2C has secured a strategic investment of $30 million from the private equity alternative investment group Nimbus Capital. This funding will enhance CratD2C's global infrastructure, expand its “12+1” diverse ecosystem, and accelerate the promotion of flagship products within its network. According to reports, the CratD2C Decentralized Autonomous Smart Chain (DASC) is an EVM-compatible Layer-1 blockchain that supports an interconnected ecosystem covering e-commerce, real estate, DeFi, and asset tokenization. CratD2C is based on a DPoS mechanism and has been audited by CertiK and Hacken.

Compliance Privacy Agreement 0xbow completes $3.5 million seed round financing, led by Starbloom Capital

The compliance privacy protocol developer xbow announced the completion of a $3.5 million seed round financing led by Starbloom Capital, with participation from Coinbase Ventures, Boost VC, Status, and several well-known investors. The privacy protocol Privacy Pools under 0xbow will be launched in March 2025, achieving on-chain privacy and regulatory compliance through zero-knowledge proofs and a real-time compliance layer ASP, and has processed over $6 million in transactions to date. This protocol has recently been integrated into the wallet Kohaku launched by the Ethereum Foundation.

Tether announces investment in Parfin to accelerate the adoption of USDT by institutional users in Latin America

The stablecoin issuer Tether has announced an investment in Parfin, aiming to accelerate institutional adoption of the US dollar stablecoin USDT and enhance access to efficient blockchain settlement solutions in Latin America. Parfin is described as a digital asset custody, tokenization, trading, and management platform in Latin America, providing financial institutions with secure tools to explore the potential of digital assets and blockchain technology.

DAT

(These transactions are not included in the current financing weekly report statistics)

Public company Onfolio Holdings raises $300 million to build a digital asset reserve

Onfolio Holdings Inc. (Nasdaq: ONFO, ONFOW) announced that it has secured up to $300 million in financing through a convertible bond financing arrangement with a U.S. institutional investor. This agreement provides Onfolio with significant long-term capital to build its digital asset reserve ( including Bitcoin, Ethereum, and Solana ), generate yield through staking, strengthen its balance sheet, and accelerate the growth of its operating businesses. The terms of the first transaction are as follows: approximately $6 million in total proceeds will be raised at the initial closing around November 18, 2025 (subject to customary conditions). An additional $2 million is expected to be raised at the second closing approximately 30 days later. Under specific conditions, future potential tranches of financing could reach up to $292 million.

centralized finance

Kraken Receives $200 Million Investment from Citadel Securities, Valuation Rises to $20 Billion

U.S. crypto exchange Kraken has secured a strategic investment of $200 million from Citadel Securities, raising its valuation to $20 billion. This financing follows its $600 million funding completed in September, which had a valuation of $15 billion, with investors including Jane Street, DRW, and Oppenheimer. Kraken plans to use the funds for global expansion and the development of payment products, and to prepare for an IPO next year. Citadel founder Ken Griffin has always maintained a cautious stance on the crypto market, and this move is seen as a key signal of his shifting attitude towards digital assets.

Cryptobank fintech company Deblock completes €30 million Series A financing, led by Speedinvest

French crypto bank fintech company Deblock has completed a €30 million Series A funding round to support its expansion in Europe, with Germany set to be its next core market. This round was led by Speedinvest, with CommerzVentures and Latitude participating, alongside existing investors 20VC, Headline, Chalfen Ventures, and Kraken Ventures. Since its launch in France in April 2024, Deblock has acquired over 300,000 users. It has introduced Europe’s first fully on-chain banking solution, which includes a regulated EMI euro account and a 100% self-custody crypto wallet, allowing users to manage fiat and digital assets on a single platform, enabling unlimited trading of over 100 cryptocurrencies, and can also be used for everyday payments like rent, shopping, and cross-border transfers.

Tether announces a strategic investment in the Bitcoin mortgage market Ledn

Tether announced a strategic investment in the Bitcoin mortgage market Ledn to expand opportunities in Bitcoin mortgage lending. According to reports, Ledn's infrastructure includes custody, risk management, and clearing systems. Since its establishment, Ledn has issued over $2.8 billion in Bitcoin mortgages, with more than $1 billion issued in 2025, setting the strongest annual performance to date. In the third quarter of 2025 alone, Ledn issued $392 million in loans, nearly matching the total for the entire year of 2024. The company now reports that its annual recurring revenue (ARR) has exceeded $100 million, highlighting the growing market demand for secure Bitcoin mortgage products.

Other

Prediction Market:

Kalshi completes $1 billion financing at a valuation of $11 billion, led by Sequoia and CapitalG

The prediction market platform Kalshi has completed a $1 billion financing round, with a new valuation of $11 billion, led by Sequoia and CapitalG. This round of financing comes less than two months after its previous $300 million financing at a $5 billion valuation. Kalshi allows users to bet on various events and operates within legal boundaries, with an annual trading volume exceeding $50 billion. Its main competitor Polymarket is also rumored to be seeking financing at a valuation of $12-15 billion.

FastX Network Completes $3 Million Financing

FastX Network has completed a $3 million funding round, led by IBC Group, Castrum Partner, Alpha Capital, Gemhead, and TBV Partner. FastX Network is an AI-driven decentralized prediction market that uses custom LLM models for crypto predictions and integrates real-time data, accessible via a web page and Telegram bot.

Web3 Games:

Web3 game WizzWoods completes $10 million Series A financing

Web3 game project WizzWoods announced the completion of a $10 million Series A funding round, led by Animoca Brands and Infinity Ventures Crypto (IVC), with participation from several angel investors. This round of funding will accelerate product development and promote WizzWoods' growth in the Web3 gaming sector.

**The blockchain shooting game XOCIETY has raised 1.6 million USD, led by Neoclassic Capital and Winguard

The blockchain shooting game XOCIETY has raised $1.6 million in preparation for the launch of its early access version on the Epic Games Store in November 2025. This round of financing was announced on November 19, led by Neoclassic Capital and Winguard. The funds will be used to expand the infrastructure of the Sui blockchain and support the development of XOCIETY within the broader Web3 gaming ecosystem.

Venture Capital Institution

New crypto incubator Obex has raised $37 million in funding to support yield-bearing stablecoins

The new crypto incubator Obex team stated in an interview that it has raised $37 million in funding to support the construction of the next generation of yield-bearing stablecoins led by Framework Ventures, LayerZero, and the Sky ecosystem. The plan aims to invest in and provide funding for projects that introduce real-world asset collateralization strategies on-chain, bringing institutional-level risk controls and underwriting practices into this rapidly evolving field. Obex will become the latest capital allocation party for Sky, providing financial support to projects, helping them achieve scale expansion from the protocol's vast reserves, and generating yields through strategies.

The program will focus on stablecoins backed by high-quality real-world assets, with an emphasis on three core areas: computational credit (such as tokenized GPU infrastructure), energy assets (such as municipal-level solar and battery deployments), and lending to large fintech companies. This incubator will run a 12-week project for early teams, providing funding, technical resources, and access to Sky infrastructure.