Crypto funding surged 408% month-over-month to $3.5 billion in May 2026, according to data from Invezz. The total exceeded April 2026's roughly $690 million and marked one of the strongest months for crypto venture financing in more than a year. The rebound was driven by mega-rounds from prediction market platform Kalshi and South Korean crypto exchange operator Dunamu. Kalshi closed a $1 billion Series F round led by Coatue, while Dunamu secured over $1 billion in combined investments from Samsung affiliates and Hana Bank.
Kalshi Raises $1 Billion Series F at $22 Billion Valuation
Prediction market platform Kalshi reported a $1 billion Series F financing round in May 2026, led by Coatue. Invezz reports the deal to be worth $1.2 billion. The raise pushed Kalshi's valuation to approximately $22 billion. Combined monthly volume across Kalshi and Polymarket reached around $24 billion in April 2026, compared with less than $5 billion in September 2025. According to the company, Kalshi will use the new capital to scale adoption across hedge funds, asset managers, proprietary trading firms, and insurance companies.
Dunamu Secures Over $1 Billion from Samsung and Hana Bank
Dunamu, the operator of South Korea's largest cryptocurrency exchange Upbit, received over $1 billion in investments during May 2026. Samsung affiliates agreed to acquire a 4% stake in Dunamu for $408 million, with Samsung Securities taking a 2% stake while Samsung SDS and Samsung Card each acquired 1%. The transaction valued Dunamu at roughly $10.2 billion. Hana Bank also announced its plan to buy a roughly $670 million stake in the crypto-exchange operator within the same month.
Venture Deal Activity Remains Concentrated in Mega-Rounds
According to data from The Tie, nearly half of May 2026's crypto funding came from Kalshi alone. Approximately 50 crypto venture deals were completed during the month, levels that resemble the pre-2021 market rather than the frenzy seen during the previous bull cycle. Market observers noted that a handful of nine-figure transactions accounted for most of the increase, while overall venture deal activity remained relatively subdued.
FAQ
What was the total crypto funding raised in May 2026?
Crypto funding reached $3.5 billion in May 2026, representing a 408% month-over-month increase from April 2026's roughly $690 million, according to data from Invezz.
How much did Kalshi raise in its Series F round?
Kalshi reported a $1 billion Series F financing round in May 2026, led by Coatue, which pushed the company's valuation to approximately $22 billion. Invezz reports the deal to be worth $1.2 billion.
