Cointelegraph iconCointelegraphOct 2, 2026 ~1 min source read

Crypto’s billions are back, but the premiums aren’t

Kalshi seeks a $40 billion valuation, while Blockchain.com targets an IPO and crypto treasury companies struggle to maintain their once-high valuations. Crypto companies are raising billions again, but investors are no longer handing out premiums indiscriminately.

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.

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.

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The useful part

Kalshi seeks a $40 billion valuation, while Blockchain.com targets an IPO and crypto treasury companies struggle to maintain their once-high valuations. 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.

How it works

  • Meanwhile, Blockchain.com is preparing for an initial public offering (IPO) at a potential $6 billion valuation, well below the $14 billion it commanded during the last crypto boom.
  • The divide is even sharper among digital asset treasury companies, where just four of the 20 largest still trade above the value of their crypto holdings.

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