US Targets Houthi Crypto Wallets, Kraken's Bold Expansion in Canada

US Sanctions Crypto Wallets Linked to Garantex and Yemeni Houthis

The United States Treasury Department has imposed sanctions on eight cryptocurrency wallet addresses associated with the Russian crypto exchange Garantex and the Yemeni Houthi movement. These sanctions follow blockchain forensic investigations by Chainalysis and TRM Labs, which revealed nearly $1 billion in funds linked to Houthi operations. Two of the sanctioned addresses are deposit addresses on major crypto platforms, while the remaining six are privately controlled.

Slava Demchuk, a consultant for the United Nations Office on Drugs and Crime, emphasized the growing role of cryptocurrency in geopolitical conflicts and terrorism financing. He noted that this development reshapes the regulatory landscape, bringing crypto firmly into the realm of international security concerns. The Houthis, a Yemeni political and armed movement, have been involved in attacks on military and civilian vessels in the Red Sea, further escalating tensions in the region.

"The inclusion of Houthi-linked wallets reflects a broader recognition of crypto’s role in geopolitical conflicts and terrorism financing." – Slava Demchuk

Garantex, previously sanctioned and shut down in March, has been accused of facilitating money laundering. The platform attempted to rebrand as "Grinex" but faced further legal challenges, including the arrest of its alleged founder, Aleksej Bešciokov, on charges of conspiracy to commit money laundering and other violations.

Key Takeaways:

Sanctions target eight crypto wallets linked to nearly $1 billion in illicit funds.
Funds were primarily used to support Houthi operations in Yemen and the Red Sea.
Garantex faces ongoing legal and regulatory challenges.

Kraken Registers as Restricted Dealer in Canada

Kraken, a U.S.-based cryptocurrency exchange, has officially registered as a restricted dealer in Canada. This milestone follows a rigorous process to meet the Ontario Securities Commission's (OSC) compliance standards. The exchange has also appointed Cynthia Del Pozo as its new general manager for North America, signaling its commitment to expanding operations in Canada.

Kraken announced that it has exceeded CAD 2 billion ($1.42 billion) in client assets over the past two years. The platform has also doubled its team size and monthly transacting users during this period. To enhance accessibility, Kraken now offers free Interac e-Transfer deposits for Canadian users. Cynthia Del Pozo highlighted that Canada is at a pivotal moment for crypto adoption, with increasing recognition of digital assets as a key component of the financial future.

"This Restricted Dealer registration is testament to the high bar Kraken has always set for consumer protection, client service, and robust security." – Cynthia Del Pozo

Key Takeaways:

Kraken secures restricted dealer status in Canada.
Client assets exceed CAD 2 billion, with significant user growth.
Free Interac e-Transfer deposits introduced for Canadian users.

SEC and Gemini Request 60-Day Pause in Crypto Lawsuit

The U.S. Securities and Exchange Commission (SEC) and crypto exchange Gemini have jointly requested a 60-day pause in their ongoing lawsuit. The case revolves around allegations that Gemini and Genesis Global Capital offered unregistered securities through the Earn program. The pause aims to allow both parties to explore a potential resolution, conserving judicial resources in the process.

Gemini had previously agreed to pay at least $1.1 billion to Earn program customers as part of a settlement with the New York State Department of Financial Services. This request follows a broader trend of the SEC seeking to resolve crypto-related litigations outside of court. Notably, the SEC has recently closed investigations into several major crypto firms without enforcement actions.

Key Takeaways:

SEC and Gemini seek a 60-day pause to explore resolution options.
Gemini previously settled with NYDFS for $1.1 billion.
SEC shows a trend of resolving crypto cases outside of court.

Crypto Platforms Outperform Nasdaq with Record Returns

Centralized crypto exchanges (CEXs) have outperformed traditional stock markets, with new token listings generating an average return of over 80% in the past six months, according to CoinMarketCap. This performance surpasses major indices like the Nasdaq and Dow Jones, as well as established cryptocurrencies like Bitcoin and Ethereum.

Seven major platforms, including Binance, Coinbase, and KuCoin, have been instrumental in this success. Approximately 68% of new listings on these platforms yielded positive returns, compared to 54% of IPOs on the New York Stock Exchange. Despite criticisms of the listing process, platforms like Binance are innovating with community voting systems to enhance transparency.

Key Takeaways:

New token listings on CEXs average over 80% returns.
68% of listings show positive ROI, outperforming traditional IPOs.
Platforms innovate to address criticisms and improve processes.

CoinEx Recognized Among Top Crypto Exchanges for 2025

CoinEx has been named one of the "Top Crypto Exchanges 2025" by U.Today, highlighting its commitment to security and user-friendly services. The platform has introduced features like PreToken Trading and enhanced staking services, while also strengthening its security protocols. CoinEx now serves over 10 million users across 200 countries.

Haipo Yang, CEO of CoinEx, expressed pride in the recognition, emphasizing the platform's focus on innovation and user experience. CoinEx continues to expand its ecosystem, aiming to shape the future of digital asset trading.

Key Takeaways: