Kraken secures EU license to dominate crypto derivatives market across 27 countries

Kraken Secures License to Enter EU Derivatives Market

Crypto exchange Kraken has successfully obtained a Markets in Financial Instruments Directive (MiFID) license in the European Union, as reported by CoinDesk. This achievement was made possible through the acquisition of a Cypriot investment firm licensed by the Cyprus Securities and Exchange Commission (CySEC). The license allows Kraken to offer crypto derivatives products across the 27 EU member states. The company stated that it plans to meet the necessary conditions to launch these products in local EU markets in the coming months. This move is part of Kraken's broader expansion strategy in Europe, which also included the acquisition of Crypto Facilities, a UK-based crypto futures platform, in 2019.

Trump Media Ventures into Crypto with Truth.Fi

According to Forbes, Trump Media and Technology Group (TMTG) has announced the launch of Truth.Fi, a financial services brand aimed at supporting the "Patriot Economy." The initiative, in partnership with brokerage Charles Schwab, plans to invest $250 million in American growth sectors, including manufacturing and energy, as well as in cryptocurrencies like Bitcoin. Following the announcement, TMTG shares rose by 8%. This development aligns with the group's broader strategy to diversify its portfolio and strengthen its financial services arm.

Shiba Inu Sees Massive Trading Volume on Binance

U.Today reports that over 10 trillion Shiba Inu (SHIB) tokens were traded on Binance, the world's largest crypto exchange, within 24 hours. This surge in trading volume has sparked speculation about potential sell-offs or strategic positioning by traders. SHIB's price rose by 6.83% during this period, trading at $0.00001571. The Shiba Inu ecosystem has also seen a significant increase in its burn rate, with over one billion tokens sent to dead wallets in the past week. The community is eagerly awaiting an announcement from Shytoshi Kusama, the project's lead figure, which could further impact SHIB's market performance.

Coinbase Becomes UK's Largest Crypto Exchange

Benzinga reports that Coinbase has secured registration as a Virtual Asset Service Provider (VASP) from the UK's Financial Conduct Authority. This milestone makes Coinbase the largest registered cryptocurrency exchange in the UK, a key market for the company. The announcement follows Coinbase's acquisition of Spindl, an on-chain advertising platform, aimed at enhancing its Ethereum layer-2 network, Base. Coinbase's shares saw a slight increase in after-hours trading, reflecting investor confidence in its international expansion strategy.

WhiteBIT Group Reaches 35+ Million Users

Morningstar highlights the impressive growth of WhiteBIT Group, which now serves over 35 million users globally. In 2024, the platform achieved a record annual trading volume of $2.7 trillion and became the largest crypto exchange in Europe by traffic. WhiteBIT also received the highest-level certification under the Cryptocurrency Security Standard (CCSS), emphasizing its commitment to security. The company plans to expand into Italy, Croatia, and Kazakhstan in 2025, further solidifying its position as a leader in the crypto industry. WhiteBIT's ecosystem includes a centralized exchange, decentralized exchange, gaming marketplace, and its native WhiteBIT Coin (WBT), which saw its value rise from $10 to $28 last year.

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