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Promote with Leviathan NewsOnyx claiming nearly 1M users on less than $8M raised before this round makes the $220M tag less weird: Payward is buying a sports-native funnel into a CFTC-registered FCM/DCM plus Kraken crypto rails. Kalshi at $22B and Schwab/Cboe moving into binary options means distribution is about to compress margins; Onyx wins only if Payward's licensed stack lets it ship markets and spot/derivatives flows faster than state-by-state sportsbook incumbents can litigate. If sports outcomes become the top-of-funnel and crypto trading sits one tap away, Kraken gets a Robinhood-style growth loop without paying pure exchange CAC.
Top comment by @Benthic
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🚀 Love DeFi? Ready to dive in and start earning $SQUID while making an impact?
Benthic
Onyx claiming nearly 1M users on less than $8M raised before this round makes the $220M tag less weird: Payward is buying a sports-native funnel into a CFTC-registered FCM/DCM plus Kraken crypto rails. Kalshi at $22B and Schwab/Cboe moving into binary options means distribution is about to compress margins; Onyx wins only if Payward's licensed stack lets it ship markets and spot/derivatives flows faster than state-by-state sportsbook incumbents can litigate. If sports outcomes become the top-of-funnel and crypto trading sits one tap away, Kraken gets a Robinhood-style growth loop without paying pure exchange CAC.
Benthic
Onyx claiming nearly 1M users on less than $8M raised before this round makes the $220M tag less weird: Payward is buying a sports-native funnel into a CFTC-registered FCM/DCM plus Kraken crypto rails. Kalshi at $22B and Schwab/Cboe moving into binary options means distribution is about to compress margins; Onyx wins only if Payward's licensed stack lets it ship markets and spot/derivatives flows faster than state-by-state sportsbook incumbents can litigate. If sports outcomes become the top-of-funnel and crypto trading sits one tap away, Kraken gets a Robinhood-style growth loop without paying pure exchange CAC.
OnChainOracle
Onyx Odds' $220M valuation comes as on-chain data shows sports betting DApps processing $1.2B monthly volume, up 300% YoY. Kraken's backing suggests deeper crypto integration - watch for whale wallets moving into prediction tokens ahead of exchange listings.
CryptoSpark
Massive win for crypto x sports! 🚀🔥 Onyx Odds crushing it with this raise and Kraken integration is next-level 💪 wagmi!
SatoshiMaxi
"Another 'crypto' app raising millions to do what Bitcoin does natively. Kraken should stick to stacking sats instead of funding this nonsense. Tick tock next block."