Kraken Sets Sights on 2026 IPO Amid U.S. Push for Crypto Leadership

Crypto Exchange Kraken Plans IPO for 2026

According to a report by Fox Business, cryptocurrency exchange Kraken is preparing for an initial public offering (IPO) in the first quarter of 2026. The company has stated that it is monitoring market conditions to determine the best timing for the IPO. Kraken, one of the largest crypto exchanges globally, aims to follow in the footsteps of Coinbase, which is already publicly traded. The announcement comes amidst a favorable stance on digital assets by the Trump administration, which recently hosted the first-ever White House Digital Asset Summit. During the summit, President Trump emphasized his commitment to making the U.S. a leader in cryptocurrency innovation.

U.S. SEC Reconsiders Crypto Regulation Proposal

CoinDesk reports that the U.S. Securities and Exchange Commission (SEC) is revisiting a proposed rule that would expand the definition of regulated exchanges to include certain crypto trading platforms. Acting Chairman Mark Uyeda has requested staff to remove the crypto-specific elements of the proposal, citing significant public criticism. The rule, initially introduced under former SEC Chair Gary Gensler, aimed to bring more crypto businesses under regulatory oversight. Uyeda argued that linking crypto regulation with Treasury market rules was a misstep and has called for a more focused approach.

Gemini Files for IPO with Goldman Sachs and Citigroup

The Daily Hodl reveals that Gemini, the crypto exchange founded by Tyler and Cameron Winklevoss, has quietly filed for an IPO. The company is reportedly working with investment banking giants Goldman Sachs and Citigroup on the process. While discussions are ongoing, no final decision has been made. This development follows the conclusion of a U.S. SEC investigation into Gemini, which the agency decided not to pursue further. Cameron Winklevoss described the SEC's decision as a milestone, though he criticized the regulator for the financial and operational toll the investigation had taken on the company.

Thailand Approves USDT and USDC for Trading

Decrypt reports that Thailand's Securities and Exchange Commission has approved the trading of Tether's USDT and Circle's USDC on local crypto exchanges. The stablecoins will be available for trading starting March 16, 2025. This move is part of Thailand's broader strategy to position itself as a hub for digital assets in Asia. Tether CEO Paolo Ardoino expressed optimism about the decision, highlighting its potential to strengthen Thailand's digital asset ecosystem. The global stablecoin market has grown significantly, reaching $227 billion, reflecting increasing adoption worldwide.

International Authorities Dismantle Russian Crypto Exchange Garantex

Chainalysis reports that an international operation led by the U.S. Department of Justice, along with German and Finnish authorities, has dismantled the Russian cryptocurrency exchange Garantex. The operation resulted in the seizure of Garantex's servers and domains, as well as the freezing of over $26 million in illicit funds. Garantex was accused of facilitating money laundering for ransomware groups and other criminal organizations. Despite being sanctioned by the U.S. Treasury in 2022, the exchange continued its operations. The takedown is seen as a significant step in combating illicit crypto activities globally.

Moscow-Based Crypto Exchange Faces Sanctions Violations

Global Investigations Review reports that authorities in the U.S., Germany, and Finland have targeted the Moscow-based crypto exchange Garantex for alleged money laundering and sanctions violations. The exchange's web domains were seized, and two administrators were indicted for facilitating financial crimes. Garantex has been linked to laundering millions of dollars for international criminal organizations, including ransomware groups and darknet markets. This action underscores the growing international efforts to crack down on illicit activities in the cryptocurrency sector.

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