Kalshi has disclosed in a new U.S. Securities and Exchange Commission Form D filing that it has raised about $1.12 billion through private equity sales since April 3, including its $1 billion Series F round completed in May. The filing also shows the company has authorization to raise roughly $1.5 billion in total, leaving about $380 million in remaining capacity. At the same time, reports cited in the source say Kalshi is in deep talks on a new $750 million financing led by Sequoia Capital and Wellington Management at a targeted $40 billion valuation. If completed at that level, the company’s valuation would have climbed sharply from the $22 billion attached to its Series F round less than three months earlier. The source also said Kalshi posted $40 billion in trading volume in July, well above the combined $12.9 billion recorded by Polymarket and Polymarket US. The report framed Kalshi’s regulated structure under the Commodity Futures Trading Commission as a key distinction from competitors and noted that investors are also watching the company’s IPO plans, revenue trajectory, and legal risks, including a lawsuit filed in Connecticut on Aug. 27 over sports contracts.

Thailand’s Securities and Exchange Commission has filed a criminal complaint against crypto exchange Bitkub Online and two former directors, Sakolkorn Sakavee and Thaweesap Rawan, accusing them of submitting false financial reports between May and October 2021. The regulator said Bitkub suffered a cyberattack in May 2021 in which 16 types of digital assets were stolen, with losses exceeding $50 million, but failed to reflect those losses in its daily net capital reports filed from May 10 to Oct. 30, 2021. The case has been referred to Thailand’s Economic Crime Suppression Division for investigation, while prosecutors will decide whether to bring formal charges. In a July 23 statement, Bitkub said current customer holdings remain safe and its accounts are complete. The exchange added that its co-founder purchased replacement assets in the same quantities and token types to absorb the losses, and said the theft had been reported to law enforcement on May 10, 2021.

Thailand’s Securities and Exchange Commission has filed a criminal complaint against crypto exchange Bitkub Online and two former directors, Sakolkorn Sakavee and Thaweesap Rawan, over alleged false financial reporting tied to a 2021 cyberattack. According to the regulator, Bitkub suffered a hack in May 2021 in which 16 types of digital assets worth more than $50 million were stolen. The SEC said those losses were not reflected in the exchange’s daily net capital reports, known as Form DA 1, submitted between May 10 and Oct. 30, 2021. The case has been referred to Thailand’s Economic Crime Suppression Division for investigation, while prosecutors will decide whether to bring formal charges. The SEC said the filings gave the impression that customer assets remained intact and that the company had not incurred financial losses. Although Bitkub later acquired replacement assets in late October 2021, the regulator maintains the interim reports still amounted to false statements. In a July 23 statement, Bitkub said current customer holdings are secure and accounts remain complete, adding that a co-founder purchased replacement assets in the same quantities and token types to absorb the loss.

PANews’ July 25 daily roundup collected a broad set of crypto regulatory, market, project, funding, and data developments, led by two market signals: analysts said stablecoin inflows to exchanges have fallen to their lowest level of 2025, while U.S. spot Bitcoin ETFs recorded a combined net outflow of $240 million on July 24, with BlackRock’s IBIT accounting for $212 million of that figure. The report also covered a Hong Kong court sentencing Xiao Rui, son of former Wuhan supervisory official Xiao Jun, to six years and nine months in prison in a money-laundering case involving more than HK$64 million; Thailand’s SEC filing criminal complaints against Bitkub Online and two former directors over disclosures tied to a 2021 theft; and India’s move to ask GitHub to remove repositories for Bitchat, an offline messaging app backed by Jack Dorsey. On the project and corporate side, PANews highlighted Robinhood’s talks with Crypto.com on prediction markets, Across Protocol’s post-mortem on a relayer incident, LayerZero’s plan to wind down support for 20 low-activity chains, Phantom’s scheduled end of support for Monad, BlackRock’s transfer of about 3,126 BTC to Coinbase Prime, Circle’s mint of 250 million USDC, and World Foundation’s $52.5 million strategic WLD sale led by Pantera Capital. The roundup also included updates on Anduril, LMAX, B2C2, Capital Group, ARK, Kinetic Group, Bitcoin volatility, and Hyperliquid buybacks.

FortisX's parent company filed a Form D with the SEC for up to $950 million in mixed securities, committing to regulatory transparency. The platform offers non-custodial staking and liquidity pools with audited security.

CoinUp released its 2025 annual report, revealing over 10 million users, $5 billion peak daily trading volume, and a Form D filing with the SEC. Second-tier exchanges are closing the gap with top platforms through security, compliance, and sustainable strategies.

Blackrock has filed with the SEC to launch a tokenized investment fund called BUIDL on Ethereum, signaling a deeper push into digital assets as regulatory scrutiny in the U.S. remains intense.

Blackrock submitted Form D to the SEC for a tokenized investment fund named 'BUIDL' with a $100,000 minimum investment. A BUIDL token was created on Ethereum, marking a major step in real-world asset tokenization.