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Exchange

A magnifying glass shows a fingerprint displayed on a background of ones and zeroes.

Kraken Raises $500M in Funding Round Valuing Crypto Exchange at $15B: Fortune

by admin September 26, 2025

Popular cryptocurrency exchange Kraken closed a $500 million funding round, setting the stage for a long-awaited IPO now expected in 2026, Fortune reported.

The round did not feature a lead investor and was closed on Kraken’s terms valuing the firm at $15 billion, Fortune said, citing a person who was not authorized to discuss the matter publicly. Backers included investment managers, venture capitalists and Kraken co-CEO Arjun Sethi, who also participated via his Tribe Capital investment firm.

Founded in 2011, Kraken had reportedly raised only $27 million in venture capital funding until this year. It generated $411 million in revenue and nearly $80 million in post-Ebitda earnings in the second quarter, according to the report.

Much of Kraken’s transformation over the last year has been steered by Sethi, who, despite sharing the CEO title with Dave Ripley, is widely seen as the company’s strategic leader.

Under him, Kraken acquired U.S. futures platform NinjaTrader for $1.5 billion, expanding its customer base by 2 million and bolstering its presence in traditional finance.

Behind the scenes, Kraken has seen a wave of executive turnover, with four senior executives recently leaving the company as it trims jobs ahead of the planned initial public offering.

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September 26, 2025 0 comments

NFT Gaming

Crypto Exchange KuCoin Hit With Record Anti-Money Laundering Penalty in Canada

by admin September 25, 2025

In brief

KuCoin was assessed a penalty of $19.5 million CAD ($14M USD) for failing to comply with Canadian anti-money laundering policies.
The exchange has appealed the decision in Canadian Federal Court.
KuCoin pleaded guilty to operating an unlicensed money-transmitting business in the U.S. in January, paying $300 million in fines and forfeitures.

Peken Global Limited, which operates as crypto exchange KuCoin, is facing a $14 million—over $19.5 million CAD—anti-money laundering penalty from Canada’s Financial Transactions and Reports Analysis Centre (FINTRAC), the agency announced on Thursday.

The Seychelles-based firm was hit with the penalty—the largest ever imposed by FINTRAC, according to Reuters—in July for failing to comply with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, FINTRAC said.

“Canada’s Anti-Money Laundering and Anti-Terrorist Financing Regime is in place to protect the safety of Canadians and the security of Canada’s economy,” said FINTRAC Director and CEO Sarah Paquet, in a statement.

“FINTRAC works with businesses to help them understand and comply with their obligations under the Act,” she added. “We are also firm in ensuring that businesses continue to do their part, and we will take appropriate actions when they are needed.”

According to the release, KuCoin failed to register as a foreign services money business, did not report large virtual currency transactions above $10,000 CAD, and failed to report suspicious transaction reports even when there was grounds to do so.

KuCoin has always strived to work constructively with regulators worldwide. We disagree with this decision on both substantive and procedural grounds, and we have pursued legal avenues by submitting an appeal before the Federal Court of Canada to ensure a fair outcome for KuCoin.…

— BC Wong (@BC_KuCoin) September 25, 2025

“While KuCoin respects the decision-making process and remains committed to regulatory compliance and transparency, it disagrees with both the finding that KuCoin is a Foreign Money Services Business and the penalty imposed, which KuCoin maintains is excessive and punitive in nature,” the exchange said in a statement.

The firm submitted an appeal before Canada’s Federal Court on substantive and procedural grounds.

In January, KuCoin pleaded guilty to operating an unlicensed money transmitting business in the U.S. and agreed to pay almost $300 million in fines and forfeitures in a settlement.

Its co-founders Chun Gan and Ke Tang were ordered to forfeit $2.7 million in cash, as well, and each left the firm after the settlement.

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September 25, 2025 0 comments

Crypto Trends

Crypto Exchange Giant Kraken Wraps Up $500 Million Funding Round

by admin September 25, 2025

IPO plans
Unconventional CEO

According to a recent report by Fortune, cryptocurrency exchange Kraken has closed a massive $500 million funding round at a staggering $15 billion valuation.

To put this massive raise into perspective, it is worth noting that the exchange raised only $27 million in venture capital funding during its first decade.

IPO plans

Kraken has been considering going public for roughly five years. Then-CEO Jesse Powell first divulged the company’s IPO plans in 2021 during a major bull run.

However, Kraken’s plans to go public were likely postponed due to the cryptocurrency winter that came in 2022.

In March, Bloomberg reported that Kraken was planning to go public in 2026. This was followed by the company’s acquisition of futures trading platform NinjaTrader.

Unconventional CEO

Co-CEO Arjun Sethi is currently spearheading the exchange in a rather unorthodox way.

Sethi operates one of the world’s largest exchanges out of his home in Menlo Park, combining business with his personal life.

He is primarily focused on merging crypto with traditional finance, with Kraken’s recent tokenization efforts being part of this push.

With xStocks, which are tokenized versions of US equities, Kraken aims to increase its appeal for retail traders.

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September 25, 2025 0 comments

NFT Gaming

Shiba Inu Exchange Reserves Shrink to 84.7 Trillion

by admin September 25, 2025

Shiba Inu has continued to raise doubts among traders following consistent rejection of expected breakouts. While its price has remained on the downside, crucial on-chain data provided by CryptoQuant suggests there’s still hope for a breakout soon.

The data shows that a massive 84,734,500,000,000 SHIB are currently held across all crypto exchanges as of September 25, a decent decline from the reserve recorded the previous day.

What does this mean for SHIB?

The massive 84.7345 trillion SHIB that is currently held in exchange reserves is flashing a positive sign, despite the 5% decline being witnessed in the price of the asset.

While exchange reserves basically measure an asset’s liquidity and accessibility, they also play crucial roles in predicting an asset’s potential price action.

According to the data, the total number of SHIB held in all supported crypto exchanges has reduced to 84.7345 trillion, suggesting that traders have become more interested in withdrawing their tokens off exchanges during the period.

Notably, a decline in the value of a crypto asset in reserve indicates lesser selling pressure, which implies growing confidence in the potential price action of the concerned asset. While SHIB has continued to plunge hard, the decreasing reserve shows that traders are increasingly buying off the tokens from the exchanges into cold storage amid surging interest to hold the assets on a long-term basis.

While the declining metric also spans across all derivative exchanges offering SHIB-related options, the decline in the reserve of the derivative exchanges may not directly predict SHIB’s price potential, as traders might be opening both long and short positions. Meanwhile, a rise in reserves across derivatives exchanges would have predicted high price volatility for the token.

Nonetheless, the Shiba Inu momentum has continued to fade, despite the hype surrounding its community engagement. Its recent price action, which saw its price fall as low as $0.00001156, has wiped out gains for short-term traders, while long-term holders appear to be struggling to retain resilience.

With SHIB’s recent on-chain metrics suggesting that bears are taking over its ecosystem, investors are gradually losing optimism, and the possibility of the asset removing another zero is currently threatened.

Nonetheless, a potential breakout in the price of the asset is expected to restore momentum. While a SHIB exec has recently explained that the asset is ready for an ETF review, investors are still confident that SHIB might return to the spotlight soon.

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September 25, 2025 0 comments

GameFi Guides

South Korean Internet Giant Naver to Buy Crypto Exchange Upbit: Report

by admin September 25, 2025

South Korean crypto exchange Upbit is about to be acquired by internet giant Naver, according to a report.

The deal would bring Upbit’s parent Dunamu under the umbrella of Naver Financial, making Dunamu a full subsidiary of Naver’s financial arm, the report said.

Upbit is one of the largest crypto exchanges in the crypto friendly country, while Naver operates multiple internet based services in South Korea, including Naver Pay.

The deal is likely to be a stock swap deal with Naver Financial issuing new shares in the crypto exchange for Dunamu’s current shares, the report added.

Shares of Naver jumped over 7% to korean won 246,000 ($175) after reports of the Upbit acquisition came out.

Reports of the deal come in the wake up of the South Korean government pushing to establish a framework for won-pegged stablecoins in the country.

Naver and Dunamu were not immediately available for comment.

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September 25, 2025 0 comments

NFT Gaming

Shuttered ShapeShift Crypto Exchange Settles Sanctions Violations for $750K

by admin September 23, 2025

In brief

Shuttered crypto exchange ShapeShift will pay $750,000 to settle alleged sanctions violations from the U.S. Treasury Department.
The Treasury Department alleges that the exchange allowed users from sanctioned countries like Cuba to make transactions.
ShapeShift, founded by crypto O.G. Erik Voorhees, closed down in 2021.

Defunct crypto exchange ShapeShift has agreed to pay $750,000 to settle violations of the Office of Foreign Assets Control, the U.S. Department of the Treasury said Tuesday.

The government department said that the exchange—founded by early crypto entrepreneur Erik Voorhees—took money from users based in sanctioned countries Cuba, Iran, Sudan, and Syria.

Feds alleged that ShapeShift had “no sanctions compliance program in place to screen users or transactions for a nexus to sanctioned jurisdictions,” and processed over $12.5 million in crypto transactions by users from sanctioned countries between December 2016 and October 2018.

“Only after ShapeShift received an administrative subpoena from OFAC did it adopt a sanctions compliance program,” the Treasury Department’s announcement read.

“ShapeShift had reason to know that such users were located in sanctioned jurisdictions, including on the basis of IP address data,” the Treasury Department continued, adding that the exchange “conveyed economic benefit to persons in several jurisdictions subject to OFAC sanctions and thereby harmed the integrity of multiple OFAC sanctions programs.”

It said that the fine was small as ShapeShift is a shuttered exchange with limited assets. ShapeShift closed in 2021.

The exchange—founded in 2014, incorporated in Switzerland, and run out of Denver, Colorado before it shut down—allowed users to swap digital coins and tokens without having to sign up with typical know-your-customer or KYC details, such as addresses or bank details. Clients could therefore trade cryptocurrencies like Bitcoin and Ethereum with a degree of anonymity.

ShapeShift received early funding from early crypto bigwigs like Roger “Bitcoin Jesus” Ver and Digital Currency Group CEO Barry Silbert.

But the exchange ran into trouble when the Securities and Exchange Commission started investigating the platform for not registering as a broker or exchange.

ShapeShift last year agreed to a cease-and-desist order and a $275,000 fine to settle allegations from the SEC.

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September 23, 2025 0 comments

GameFi Guides

Shiba Inu (SHIB) Recorded -485,685,800,000 Crypto Exchange Netflow: Details

by admin September 23, 2025

Sellers not ready?
Exchange flows are suspicious

Although Shiba Inu is still struggling close to critical support, new on-chain data indicates a startling change in the market’s dynamics. After breaking below its symmetrical triangle pattern, the price is currently hovering at $0.00001224, but exchange flows show that selling pressure is still noticeably lacking.

Sellers not ready?

Within a 24-hour period, SHIB experienced an astounding 485.6 billion SHIB in exchange net outflows, according to CryptoQuant. In other words, rather than being deposited for sale, almost half a trillion tokens were removed from centralized exchanges. This implies that both retail and whale holders are moving their tokens into self-custody, thereby lowering the immediate risk of significant liquidations. Such outflows typically tighten the supply available on trading platforms and serve as a bullish indicator.

SHIB/USDT Chart by TradingView

The technical architecture of SHIB, however, is weak. The asset is currently hovering near oversold territory at 41.99 after breaking below the triangle support and showing weak momentum on the Relative Strength Index (RSI). Additionally, there has been no significant support from the 50, 100 and 200-day moving averages, suggesting that the overall downward trend is still in place.

Exchange flows are suspicious

The resulting paradox is that exchange flows indicate a different picture than price action, which suggests weakness and a possible continuation toward 2025 lows. In spite of the unfavorable chart structure, holders appear unwilling to give up their positions. With fewer tokens easily accessible on exchanges, it increases the risk of a supply squeeze in the event that demand resurfaces without warning.

Looking ahead, SHIB is still at a turning point. The lack of exchange supply may increase upward volatility if demand even slightly increases. Notwithstanding the robust outflow data, the token might find it difficult to recover if general market sentiment stays pessimistic, especially in light of the corrections that Ethereum and Bitcoin are experiencing.

Generally, market participants are showing some upside potential on the SHIB market, but whether or not this patience results in a recovery will depend on outside demand. One thing is clear for the time being: nobody is selling.

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September 23, 2025 0 comments

GameFi Guides

Poland Joins The Bitcoin ETF Wave With Warsaw Stock Exchange Debut

by admin September 20, 2025

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Poland’s main bourse has opened a new door for investors who want Bitcoin exposure without buying the coin directly. The Warsaw Stock Exchange (GPW) has listed the Bitcoin BETA ETF, a fund that gives exposure to crypto via futures contracts rather than holding spot Bitcoin.

Bitcoin Futures And Currency Protection

Based on reports, the fund is managed by AgioFunds TFI SA and gains exposure by trading BTC futures listed on the Chicago Mercantile Exchange (CME).

The arrangement means investors are buying a regulated product tied to derivatives, not a direct claim on coins.

The prospectus for the fund was approved by Poland’s Financial Supervision Authority (KNF) on June 17, 2025, according to filings. The fund also uses FX hedging to help offset swings between the US dollar and the Polish zloty.

🚨 BREAKING 🚨

🇵🇱 Poland’s Warsaw Stock Exchange just launched its first Bitcoin ETF — the Bitcoin Beta ETF! 🔥💹

Another country joins the global Bitcoin adoption wave. 🌍⚡#Bitcoin #ETF #Poland #Crypto #BullRun pic.twitter.com/N6vLLd9cD9

— Murt Crypto (@Murtaza_Saraf) September 18, 2025

Market Making And Listing Details

Reports have disclosed that Dom Maklerski Banku Ochrony Środowiska S.A. (BOŚ) will serve as the market maker for the ETF on GPW.

That local brokerage is tasked with helping maintain orderly trading and a visible spread between buy and sell orders.

The listing brings a regulated option for Polish retail and institutional investors who prefer to trade through local brokers and their existing brokerage accounts.

How This Fits Into The Exchange’s ETF Suite

According to exchange data and industry reports, the BETA ETF joins a wider set of funds already traded on GPW — increasing the total number of ETFs on the exchange to around 16.

BTCUSD now trading at $115,945. Chart: TradingView

That includes funds tracking domestic indexes and several global benchmarks. The new product is positioned as another choice for investors looking to diversify within regulated markets.

Investor Takeaways And Risks

Investors should note that futures-based ETFs can behave differently from spot Bitcoin. Roll costs, futures curve dynamics, and management fees can affect returns over time.

The fund’s FX hedge will reduce currency drag for zloty-based investors, but hedging itself can add to fund costs. Reports suggest the prospectus and risk disclosures outline these points for buyers to review before investing.

Why This Matters

In short, this listing gives Polish investors a regulated route to Bitcoin exposure inside the traditional brokerage ecosystem.

The product is aimed at those who want market access without handling wallets or private keys, and who prefer trading on a local exchange. It may also nudge other regional markets to consider similar regulated vehicles.

Featured image from Unsplash, chart from TradingView

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September 20, 2025 0 comments

FTX founder Sam Bankman-Fried (Nikhilesh De/CoinDesk)

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IG Group Buys Majority Stake in Australian Crypto Exchange Independent Reserve for $72M

by admin September 20, 2025

Online trading platform IG Group has acquired a majority stake in Australian cryptocurrency exchange Independent Reserve for 109.6 million Australian dollars ($72.4 million).

The deal, the company said, aims to strengthen IG’s position in Asia-Pacific’s fast-growing crypto markets and complements its recent crypto rollouts in the U.K. and U.S.

Independent Reserve is one of Australia’s oldest regulated crypto platforms, IG’s managing director for Asia Pacific and the Middle East, Matt Macklin, said. It also supports trading in 34 cryptocurrencies across Australian and Singaporean markets.

IG will initially acquire 70% of the company, with the option to buy the remaining 30% based on future performance. The deal is subject to regulatory approvals and expected to close in early 2026 for a total of 178 million Australian dollars ($117.6 million).

Independent Reserve CEO Adrian Przelozny said the transaction gives the exchange a bigger platform to grow while staying aligned with its goal of secure, regulated trading.

The move fills a regional product gap for IG, giving the firm “immediate access” to Australia and Singapore.

Independent Reserve reported revenue of $23.3 million for the fiscal year ending June 2025, up 88% year-over-year, the announcement adds. The platform also saw a 60% increase in monthly active users, reaching around 11,600, and has $1.12 billion in assets under custody from 129,400 funded accounts.

IG Group said the deal will be accretive to earnings starting in fiscal year 2027. Its shares are down 1.8% in today’s trading session.

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September 20, 2025 0 comments

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Bankrupt Crypto Exchange to Repay $1.6B on Sep. 30 in Latest Redistribution

by admin September 19, 2025

FTX’s bankruptcy estate is set to release $1.6 billion of funds to creditors at the end of the month, marking the third major payout following the crypto exchange’s implosion nearly three years ago.

The FTX Recovery Trust, which oversees the bankruptcy process, announced on Friday that payments will begin on September 30 for creditors who have completed verification steps on the FTX claims portal. Funds will be routed through service providers BitGo, Kraken or Payoneer and are expected to land in accounts within three business days.

U.S. customer claims will receive 40% in the latest round, bringing their total recovery so far to 95%, the press release said. “Dotcom” customers, users of the exchange’s international arm, will see an additional 6% payout, for 78% in cumulative distributions. General unsecured and digital asset loan claims are set for a 24% payout, raising recoveries to 85%. Convenience claims will be paid out at 120%, exceeding the face value of what was owed.

The September distribution follows earlier rounds that has returned over $6 billions to creditors, part of a process aimed at recovering assets to users of the once-prominent crypto exchange, which collapsed in November 2022 pushing the crypto industry into a deep bear market. Sam Bankman-Fried, the founder and CEO of the exchange, is currently serving a 25-year sentence after he was convicted of seven counts of fraud and conspiracy.

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September 19, 2025 0 comments