We have collected the most important news from the participants of the crypto industry for the week.
Media: Kraken is in talks to raise more than $100 million on the eve of a possible IPO.Semler Scientific has brought the number of bitcoins on the balance sheet to 828 BTC.OKX has launched a platform for residents of the Netherlands.A group of FTX creditors has challenged the exchange's reorganization plan.Circle entered the Brazilian market in partnership with BTG Pactual and Nubank.Media: Kraken is in talks to raise more than $100 million on the eve of a possible IPO
Kraken, the second largest crypto exchange in the United States, is discussing with potential investors raising over $100 million as part of a so-called pre-IPO by 2025. Bloomberg writes about this with reference to informed sources.
Representatives of the platform refused to discuss the possibility of gaining public status, noting "the constant study of strategic ways for the global adoption of cryptocurrencies."
In April 2021, Coinbase placed shares on Nasdaq under the ticker COIN. Kraken planned to follow in the footsteps of a competitor through a direct listing, but subsequently began to lean towards a more traditional structure. Then CEO Jess Powell announced that he plans to place shares on the stock market in the second half of 2022.
In November 2023, the SEC accused the company of offering unregistered securities in the form of digital tokens on its platform.
In February 2024, Kraken filed a motion with the court to dismiss the Commission's claim, citing the formation of a "dangerous precedent" for the powers of the regulator.
A month later, the organization introduced a custodial service for its Kraken Institutional platform.
Semler Scientific has brought the number of bitcoins on the balance sheet to 828 BTC
Medical equipment manufacturer Semler Scientific, with a stock listing on Nasdaq, bought 247 BTC for ~$17 million.
In total, the company holds 828 BTC on its balance sheet. The company spent $57 million for these purposes. By the time of writing, the investments had generated an income of 4% ($2.22 million).
The management of Semler Scientific intends to raise $ 150 million and direct part of the amount to the purchase of digital gold.
"Bitcoin is an attractive investment and can serve as a reliable means of saving capital. We will continue to adhere to our strategy of buying the first cryptocurrency," commented Doug Murphy—Chutorian, CEO of Semler Scientific.
Earlier, Matt Horn, head of digital asset strategies at Fidelity Investments, recommended sending 1-5% of capital to bitcoin, regardless of beliefs.
OKX has launched a platform for residents of the Netherlands
OKX has expanded into the Netherlands by launching a local trading platform and a Web3 wallet.
CEX allows residents to trade approximately 150 cryptocurrencies, including at least 60 trading pairs denominated in euros. Staking and lending are also available.
OKX has integrated support for the local iDeal payment system to ensure smooth deposit and withdrawal of funds in the single European currency. Deposits and withdrawals are also possible through SEPA.
In April, the company launched its own Ethereum-based L2 network called X Layer. The initiative aims to ensure low fees and compatibility for users interacting with dapps.
FTX group of creditors has challenged the platform's reorganization plan
The FTX creditors group, led by Sunil Kavuri, has filed an objection to the compensation plan. The latter assumed that 98% of customers would receive at least 118% of their requirements.
CAHC has filed a objection to the FTX Plan
1) Plan is unconfirmable as a matter of law
2) Includes releases not in interest of the estate
3) Ignores property rights issue
4) Does not satisfy the best interest test pic.twitter.com/rpXxz0tmP2
According to the applicants, the refund in cash will lead to a taxable event, as a result of which creditors will incur unjustified expenses. An alternative option — in kind — will greatly meet their interests.
In May, representatives of the largest group of creditors, led by Kavuri, pointed to the limitations of the reorganization plan for the possibilities of recipients of funds and the exoneration of some defendants.
Earlier it became known that the amount of approved payments to FTX consultants and lawyers accompanying the bankruptcy exceeded $500 million.
In June, FTX settled a lawsuit by the US Tax Office for $24 billion
Circle entered the Brazilian market in partnership with BTG Pactual and Nubank
The USDC issuer Circle has announced its launch in Brazil. The expansion opens up the opportunity to bring a supported stablecoin and digital asset infrastructure to the market.
The organization stressed that about 90% of the value of cryptocurrency transactions in the country are formed by "stable coins", and the number of users of the Pix instant payment platform exceeded 160 million.
https://forklog.com/news/ceo-circle-sprognoziroval-pervenstvo-ssha-v-regulirovanii-stejblkoinovKey indicators of the DeFi segment
The volume of blocked funds (TVL) in DeFi protocols jumped to $109.2 billion. Lido remains the leader with an indicator of $36.4 billion. EigenLayer is on the second line ($19.9 billion), Aave retains the third ($13.2 billion).
Data: DeFi Llama.TVL in Ethereum applications has increased to $66.5 billion.
The volume of trading on decentralized exchanges (DEX) has increased to $136.3 billion over the past 30 days.
Uniswap continues to dominate — it accounts for 61.9% of total turnover (56.3% a month ago). PancakeSwap, the second DEX by turnover, increased its market share from 18.7% to 20.4%. Curve took the third place (3.2%).
Also on ForkLog:
Mastercard has resumed cooperation with Binance.Robinhood will absorb Bitstamp in the first half of 2025 for $200 million.Coinbase has introduced a "smart" gas-free wallet.Paxos has introduced a 5% annual USDL stablecoin.Changpeng Zhao arrived at the prison to serve his sentence.Mastercard has launched a pilot service for cryptocurrency P2P transfers.The TVL of the EigenLayer protocol has exceeded $20 billion.What should I read on the weekend?
On May 28, the cryptocurrency market was agitated by reports about the movement of Mt.Gox bitcoins worth $ 9.8 billion. In response, the former owner and head of the exchange, Mark Karpeles, hastened to assure that he did not expect a sale of coins distributed among the platform's customers.
In the uncertainty surrounding the process, QCP Capital saw advantages for Ethereum, and Bitfinex allowed a cascade of liquidations of positions in digital gold in an unfavorable scenario.
https://forklog.com/cryptorium/birzha-mt-gox-krupnejshij-vzlom-v-istorii-kriptovalyut