Markets

Kraken, one of the oldest and largest cryptocurrency exchanges in the United States, is orchestrating a large funding round before a potential initial public offering next year, according to a new report from Bloomberg. Sources contacted by the outlet say the exchange likely aims to raise $100 million before the move. Kraken To Go Public? If Kraken were to follow through, it would become the second publicly traded pure-play crypto exchange in the world after Coinbase, its...

SEC Chair Gensler has voiced concern over unethical conduct within crypto exchanges, noting that the introduction of spot Ethereum ETFs will require additional time. Gensler’s comments were made during a June 5 interview on CNBC, where he also responded to Jim Cramer’s inquiries about potential exchange-traded products for cryptocurrencies beyond Bitcoin and Ethereum. Gensler Criticizes Crypto Exchanges Gensler stated that while the SEC had approved the associated 19-4b...

Robinhood, the stock trading platform, has agreed to acquire Bitstamp, a massive UK-based crypto exchange. The deal is set to close next year for a whopping $200 million. It will elevate Robinhood’s crypto arm to new markets, taking its presence outside the US and allowing it to service customers in the UK, Europe, and many other jurisdictions where the exchange holds licenses. Bitstamp is one of the most used exchanges in Europe, and its acquisition will help Robinhood strategically grow in...

Following the recent recovery in the market, certain altcoins have become appealing to buyers, with wealthy investors even beginning to stockpile these assets before prices potentially surge. Cardano (ADA), Shiba Inu (SHIB), and JasmyCoin (JASMY) are experiencing notable price surges, each seemingly driven by increased whale activity. Whales Pile In This week, transactions exceeding $100k on these networks have more than doubled compared to their average figures for 2024,...

The volatile nature of the cryptocurrency market has prompted many smart investors to adopt the age-long investment strategy of diversifying their crypto holdings to reduce risk. This diversification, however, poses a new problem as users find it difficult to keep track of their crypto assets, especially as they grow in value. Crypto portfolio trackers have become essential tools for everyone looking to prevent the possible consequences of losing track of their investments....

Turkey is not going to impose taxes on profits from trading crypto assets and stocks, clarified an official from the country’s finance ministry. The clarification comes after news reports mentioning Ankara’s plans to impose crypto taxes started making rounds few days ago. According to news reports from earlier this week, Mehmet Simsek – Turkey’s treasury and finance minister announced plans to put the country on the path of economic recovery.  Taxing income from cryptocurrency and stock...

Paxos Trust Company, the issuing entity behind famous stablecoins PayPal USD (PYUSD), Pax Dollar (PUSD), Pax Gold (PAXG), and the now defunct Binance USD (BUSD), has introduced its new stablecoin – the USD Lift (USDL). The stablecoin will be distributed by Paxos’ UAE-based affiliate, Paxos International. USDL is a yield-generating stablecoin that allows users to accrue interest as they hold the asset, thus working as a “savings product than a checking account product,” said Charles...

A group of U.S. lawmakers has called on President Joe Biden to intervene in the detention of Tigran Gambaryan, a high-ranking executive at Binance, who has been held by Nigerian authorities for nearly three months. The appeal, led by House Foreign Affairs Committee Chair Michael McCaul (R-Texas) and supported by 11 other congressional leaders, demands that the situation be treated as a hostage crisis and that immediate action be taken to secure Gambaryan’s release. U.S....

Chainlink (LINK), the native token of the decentralized blockchain oracle network built on Ethereum, has emerged once more as the top real-world asset with the most development activity in the last 30 days. According to a tweet by Santiment, LINK is followed by Synthetix (SNX), Centrifuge (CFG), and Oraichain (ORAI). Top RWAs With the Most Development Real-world assets are cryptocurrencies that represent physical assets like properties and objects. Like other crypto assets,...

Bitpanda, one of the leading European crypto trading and brokerage platforms has announced that it has deepened its relationship with Deutsche Bank. The latest development allows the Austrian crypto platform to offer a better experience to its users, especially those in Germany. The relationship between Bitpanda and Deutsche Bank is not exactly new. Deutsche Bank has been acting as the former’s European Hausbank for cross-currency solutions in Austria and Spain for a while now. The latest...