[Afternoon News Briefing] Crypto Asset Investment Funding Surges 83.5% in October, Among Other Topics

October fundraising in the crypto sector jumped 83.5% month-over-month, with RootData tallying 53 disclosed primary-market deals totaling $1.954 billion, though a single $1 billion raise by prediction-market platform Kalshi accounted for 51.2% of the monthly total. Separately, Italy's draft 2027 budget includes a proposal to tax unrealized gains of wealthy individuals holding over €800,000 in financial assets who have been Italian tax residents for at least six of the past ten years, with Criptovaluta.it reporting that crypto holdings could fall within the tax's scope. The US Treasury also moved against individuals allegedly aiding North Korean IT workers in cashing out virtual assets. The fundraising rebound suggests renewed investor appetite for crypto ventures, though the heavy concentration in one deal warrants caution on breadth. Watch for how Italy's unrealized-gains tax proposal evolves through the budget process and further US enforcement actions tied to North Korean crypto laundering.