Kraken Halts IPO: Shifts to Acquisitions and Client Growth Amid Regulations

Kraken Delays IPO Plans Amid Regulatory Challenges

Kraken, a leading U.S.-based cryptocurrency exchange, has announced that it is not in a hurry to go public. Co-CEO Arjun Sethi stated during the Axios 2025 What's Next Summit that the company will only consider an IPO if it aligns with the interests of its clients. Despite speculation about a potential IPO in early 2026, Sethi declined to confirm any specific timeline.

Kraken has been focusing on strategic acquisitions, including its recent $1.5 billion purchase of Ninja Trader, a futures trading platform. Sethi emphasized that the global regulatory environment for cryptocurrencies has become more favorable, which could influence future decisions.

"The overall regulatory environment, worldwide, not just in the United States, has become a lot more favorable," said Sethi.

Key Takeaways:

Kraken is not rushing its IPO plans, prioritizing client interests.
The company recently acquired Ninja Trader for $1.5 billion.
Global regulatory conditions for crypto are improving.

Source: Axios

Bitcoin Market Stability: Experts Divided

Bitcoin's price has shown signs of stabilization, trading at approximately $88,000 as of Tuesday. However, experts remain divided on whether the cryptocurrency has reached its market bottom. Factors such as U.S. trade policies under President Donald Trump and uncertainties surrounding tariffs have contributed to market volatility.

Analysts from Compass Point noted that Bitcoin's long-term holders are no longer unwinding positions, and inflows into Bitcoin exchange-traded funds have resumed. Despite this, resistance at the $93,000 level is expected. Arthur Hayes, co-founder of BitMEX, recently revised his short-term Bitcoin price prediction to $110,000, citing improved market conditions.

Key Takeaways:

Bitcoin is trading around $88,000, with resistance expected at $93,000.
Market sentiment is improving, with long-term holders retaining positions.
Arthur Hayes predicts a short-term price increase to $110,000.

Source: Decrypt

BlackRock Launches Bitcoin ETP in Europe

BlackRock, the world's largest asset manager, has introduced its first Bitcoin exchange-traded product (ETP) in Europe. The 'iShares Bitcoin ETP' is domiciled in Switzerland and listed in Paris, Amsterdam, and Frankfurt. This move follows the success of similar products in the U.S., which have attracted over $50 billion in investments.

The ETP is managed in partnership with Coinbase as the custodian and Bank of New York Mellon as the administrator. BlackRock's entry into the European market highlights the growing demand for cryptocurrency exposure among institutional investors.

Key Takeaways:

BlackRock's Bitcoin ETP is listed in major European markets.
The product is managed in collaboration with Coinbase and Bank of New York Mellon.
Over $50 billion has been invested in similar U.S. products.

Sources: TradingView, Reuters

Trump’s SEC Chair Nominee Faces Scrutiny Over FTX Ties

President Donald Trump's nominee for SEC chair, Paul Atkins, is under scrutiny for his past ties to the now-bankrupt crypto exchange FTX. Atkins, who is the CEO of Patomak Global Partners, disclosed assets worth at least $327 million, including stakes in Patomak and other investments in the crypto sector.

Atkins has pledged to divest any conflicting interests if confirmed. His nomination comes amid heightened regulatory focus on the crypto industry, following the conviction of FTX founder Sam Bankman-Fried on multiple fraud charges.

Key Takeaways:

Paul Atkins disclosed combined assets of $327 million.
He has pledged to divest conflicting interests if confirmed as SEC chair.
FTX founder Sam Bankman-Fried was sentenced to nearly 25 years in prison.

Source: TheStreet

BTCC Enhances VIP Program for High-Volume Traders

BTCC, one of the oldest cryptocurrency exchanges, has revamped its VIP program to cater to its 6.8 million global users. The new program offers competitive trading fees as low as 0.007%, enhanced liquidity with daily withdrawal limits of up to 2,500,000 USDT, and exclusive rewards such as trading vouchers and luxury vacation packages.

SVIP users also benefit from personalized support and a grace period to maintain their status during reduced trading activity. BTCC aims to provide a secure and rewarding trading environment for its most active users.

Key Takeaways: