Kalshi Targets $40B Valuation as Revenue Hits $4B | CoinDesk Daily

**Jennifer Sanasie** (0:00)
Kalshi is raising at a $40 billion valuation, and the CEO of a collapsed crypto lender gets 15 years in prison. This is CoinDesk Daily.
RealFi, a smarter stablecoin backed by real world assets. Join the testnet now at realfi.co. Kalshi is in talks to raise $750 million at a $40 billion valuation, nearly double the $22 billion it hit just three months ago. Sequoia Capital and Boston Asset Manager Wellington are considering leading the round. Kalshi's annualized revenue jumped to $4 billion in July, driven mostly by World Cup betting. That's nearly four times rival Polymarket. The CEO of Collapsed Crypto lender, Delio, has been sentenced to 15 years in a South Korean prison for a $50 million fraud that affected more than 1,100 people. Delio took Bitcoin and Ether deposits, promised high yields, then locked customers out of their funds overnight in June 2023
It's the latest in a string of Korean crypto fraud cases following DoKwon's Terra Collapse and the $1.7 billion V Global Scheme. And Japanese Bitcoin treasury company MetaPlanet has launched a new bond program it's calling BitBonds. The first sale raised about $1.3 million across four private series, with three-year notes paying 4% to 4.3% interest. The launch comes as the CEO denied rumors of a Bitcoin sale with its holdings still standing at 43,000 Bitcoin. Get more updates on coindesk.com.
RealFi.
A smarter stablecoin backed by real world assets. Join the testnet now at realfi.co.