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Project Overview
Kraken is one of the largest and oldest crypto exchanges in the world, founded in 2011. It is dedicated to making cryptocurrency accessible and available to the world and enabling people from all walks of life to invest in their independence. In September 2020, the state of Wyoming granted Kraken a license to create a crypto bank in the state, making it the first US crypto exchange to do so.
Blockworks completes Series A extension funding at $192 million valuation, betting on the integration of crypto data and information infrastructure
Blockworks has announced the completion of a Series A extension funding round, achieving a post-money valuation of $192 million. The round was co-led by ParaFi Capital and Reciprocal Ventures, with support from Coinbase Ventures, MoonPay Ventures, and several other institutions and industry participants. The funding also attracted investments from over 20 founders and operators of ecosystem projects including Solana, LayerZero, Arbitrum, and Kraken, though the specific amount raised has not been disclosed.The company stated that while the crypto market has grown to a trillion-dollar scale lacking traditional capital market infrastructure, it still faces issues such as fragmented data, inconsistent disclosure standards, and a lack of investor communication mechanisms. Blockworks aims to fill this gap through a "data + disclosure + investor relations" tripartite architecture. (CNBC)
Pantera and Other Investors Push Satsuma to Sell $50 Million Bitcoin Reserve
Odaily Odaily Planet Daily reports that investors including Pantera Capital Management are pushing UK Bitcoin reserve company Satsuma to sell its $50 million Bitcoin reserve. In August 2025, Satsuma shifted to an "AI-driven" Bitcoin reserve strategy, successfully raising £164 million (approximately $221 million) through convertible loan notes. The round was led by ParaFi Capital, with participation from Pantera, Digital Currency Group (DCG), Kraken, Arrington Capital, and others.It is reported that Satsuma confirmed that some shareholders have "demanded a return of capital," but did not disclose the specific identities of those shareholders. In an email statement, Satsuma's Executive Chairman Ranald McGregor-Smith said the company is exploring options to facilitate these requests while protecting the interests of all shareholders. (The Block)
Kraken’s parent company Payward acquires derivatives exchange Bitnomial for up to $550 million
According to CoinDesk, Payward, Kraken’s parent company, announced the acquisition of digital asset derivatives platform Bitnomial for up to $550 million in cash and stock. The deal values Payward at approximately $20 billion. Bitnomial is the first crypto-native platform in the U.S. to hold all three key regulatory licenses: a Designated Contract Market (DCM), a Derivatives Clearing Organization (DCO), and a Futures Commission Merchant (FCM). Following the acquisition, Payward will instantly obtain all regulatory authorizations required to operate a full derivatives business in the U.S., significantly accelerating its path to compliance compared to building such capabilities organically. Post-integration, the combined platforms will launch spot margin, perpetual futures, and options products for U.S. customers. Through Payward Services’ B2B infrastructure, these regulated U.S. derivatives offerings will be made available to banks, fintech firms, and brokers via a single API. This acquisition marks Payward’s second major deal following its $1.5 billion acquisition of NinjaTrader in 2025. The transaction is expected to close in the first half of 2026.
Kraken Secretly Files for U.S. IPO, Valuation Drops to $13.3 Billion
According to CNBC, Arjun Sethi, Co-CEO of global major cryptocurrency exchange Kraken, confirmed on April 14 that the company has confidentially filed its initial public offering (IPO) application with the U.S. Securities and Exchange Commission (SEC). This IPO filing formally advances a plan first announced in November last year. Data shows Kraken’s latest valuation stands at approximately $13.3 billion—significantly down from $20 billion in November 2025. Previously, Kraken had paused its IPO plans amid a crypto market downturn. Earlier reports indicated that Deutsche Börse Group has committed to invest $200 million in exchange for a 1.5% fully diluted ownership stake in Kraken.
Deutsche Börse Invests $200 Million in Kraken
According to Bloomberg, Deutsche Börse has invested $200 million in Payward Inc., the parent company of cryptocurrency exchange Kraken. This transaction will grant Deutsche Börse a fully diluted 1.5% stake in the company. The investment aims to advance Frankfurt Stock Exchange’s provision of broader securities services via blockchain technology and is expected to close in the second quarter, subject to regulatory approval. Previously, Kraken was valued at $20 billion in a share sale in November 2025.
PrimePiper Launches Prime Broker Dedicated to AI Agents, Enabling Multi-Exchange Connectivity, Cross-Venue Reconciliation, and Risk Control & Audit Capabilities
PrimePiper has launched an enterprise-grade prime broker platform for AI agents, designed to address challenges including fragmented account management, inadequate risk control, inability to reconcile across venues, and insufficient compliance auditing in AI-driven automated trading. According to the company, its infrastructure supports unified connectivity to multiple trading venues—including Hyperliquid, OKX, Tiger Brokers, and Interactive Brokers (IBKR). For risk control, PrimePiper offers enterprise-grade API key management, spending limits, and circuit-breaker mechanisms to constrain AI agent trading behavior. At the execution layer, it enables automated strategy execution via SDK or the Model Context Protocol (MCP). For compliance and auditing, it provides audit-grade reporting capabilities tailored for funds and traders. PrimePiper has been selected for the latest cohort of Founders Inc’s accelerator program; its product is currently in the Alpha stage. Team members hail from Galois Capital, Kraken, DRW, and AWS.
Coinbase and Other Crypto Institutions Send Joint Letter to U.S. Senate Urging Passage of the CLARITY Act
the crypto advocacy groups Blockchain Association and CCI, together with over 120 industry institutions including Coinbase, Ripple, Kraken, and Circle, have sent a joint letter to the U.S. Senate Banking Committee, urging an accelerated review process for the CLARITY Act. The industry parties stated that the United States needs to establish a unified regulatory framework for digital asset markets, clarify regulatory responsibilities, and strengthen investor protection. They emphasized that relying solely on enforcement-based regulation cannot create a long-term stable environment. The institutions warned that prolonged policy ambiguity will lead to an outflow of capital, talent, and technology, weakening America's strategic advantages. They also called for the development of tailored federal unified regulatory rules for stablecoins, tokenized assets, and decentralized technologies.
Over 100 Crypto Companies Urge U.S. Senate to Advance the Clarity Act
According to CoinDesk, over 100 U.S. crypto companies and industry organizations sent a letter to the Senate Banking Committee urging advancement of the Clarity Act’s consideration to establish a federal regulatory framework for digital asset markets. Signatories include Coinbase, Ripple, Kraken, Andreessen Horowitz, Paradigm, and Consensys. Their core demands include clarifying the regulatory division of responsibilities between the SEC and the CFTC, protecting developers of non-custodial tools, simplifying disclosure requirements, and preventing fragmentation across state-level regulatory standards. The signatories warn that without a comprehensive crypto regulatory framework in the U.S., investment, jobs, and development activity may shift overseas.
Kraken Urges U.S. Congress to Enact Minimum Threshold Tax Exemption for Crypto and Allow Timing Election for Staking Rewards Taxation
TechFlow News, April 22: According to CoinDesk, Kraken stated that it has filed 56 million cryptocurrency transaction tax forms with the U.S. Internal Revenue Service (IRS) for the 2025 tax year. Of these, approximately 18.5 million forms report transactions under $1, 74% report amounts under $50, and only 8.5% exceed $600. Kraken noted that the absence of a de minimis exemption threshold for cryptocurrency payments—and the current treatment of staking rewards as ordinary income upon receipt—are imposing a significant reporting burden on investors. Kraken is urging the U.S. Congress to enact broader, inflation-indexed de minimis exemption rules and to allow taxpayers to elect whether staking rewards are taxed upon receipt or upon sale.
ZachXBT Questions Kraken’s Listing Review Process for Memecore, Citing Anomalous Fund Flows
On-chain investigator ZachXBT questioned Kraken’s due diligence process for listing $M (Memecore) spot trading on July 3, 2025, noting that approximately 7.9 million $M were withdrawn from Kraken to 18 newly created addresses; these addresses collectively now hold roughly 11.7 million $M—valued at approximately $39.8 million at current prices. He also stated that addresses suspected to belong to the Memecore team received 200 million $M during the token generation event (TGE) and transferred 5.3 million $M to Kraken’s deposit address on July 3, 2025.
Kraken’s parent company Payward acquires derivatives exchange Bitnomial for up to $550 million
According to CoinDesk, Payward, Kraken’s parent company, announced the acquisition of digital asset derivatives platform Bitnomial for up to $550 million in cash and stock. The deal values Payward at approximately $20 billion. Bitnomial is the first crypto-native platform in the U.S. to hold all three key regulatory licenses: a Designated Contract Market (DCM), a Derivatives Clearing Organization (DCO), and a Futures Commission Merchant (FCM). Following the acquisition, Payward will instantly obtain all regulatory authorizations required to operate a full derivatives business in the U.S., significantly accelerating its path to compliance compared to building such capabilities organically. Post-integration, the combined platforms will launch spot margin, perpetual futures, and options products for U.S. customers. Through Payward Services’ B2B infrastructure, these regulated U.S. derivatives offerings will be made available to banks, fintech firms, and brokers via a single API. This acquisition marks Payward’s second major deal following its $1.5 billion acquisition of NinjaTrader in 2025. The transaction is expected to close in the first half of 2026.
A whale deposited SOL withdrawn from Kraken 11 months ago into Binance, facing an unrealized loss of $17.62 million
According to Onchain Lens monitoring, a whale deposited 211,694 SOL into Binance today, worth $177,700. The whale withdrew 200,010 SOL from Kraken 11 months ago, when it was worth $353,900. Based on current prices, the whale is facing a loss of $17.62 million.
A whale withdrew 4,361 ETH from Kraken, valued at approximately $9.98 million
According to Lookonchain monitoring, a whale withdrew 4,361 ETH from Kraken five hours ago, valued at approximately $9.98 million, after three months of inactivity. Another new address withdrew 2,000 ETH from Binance one hour ago, valued at approximately $4.58
A whale withdrew $9.98 million worth of ETH from Kraken
According to Onchain Lens monitoring, a whale withdrew 4,361 ETH from Kraken in the past 30 minutes, worth approximately $9.98 million.The address currently holds a total of 4,383 ETH, worth about $10 million.
A dormant whale transfers all 2,301 ETH to Kraken after three years
According to on-chain analyst Onchain Lens (@OnchainLens), a dormant whale has transferred all 2,301 ETH held in its wallet to Kraken; valued at approximately $5.5 million at current prices.
Data: Last week, 16,000 BTC flowed out of crypto exchanges, bringing their combined balance down to 2.4477 million BTC.
According to Coinglass, major cryptocurrency exchanges collectively saw a net outflow of 15,952.91 BTC over the past week, with Coinbase Pro experiencing an outflow of 6,269.08 BTC, Kraken an outflow of 5,734.42 BTC, and OKX an outflow of 4,353.49 BTC. Currently, the total Bitcoin balance held by crypto exchanges stands at 2.4477 million BTC.
Abraxas Capital deposited 4,835 BTC—worth approximately $378 million—to Kraken in the past hour.
According to on-chain analytics platform Lookonchain (@lookonchain), Abraxas Capital deposited 4,835 BTC—worth approximately $378 million—into Kraken within the past hour. Simultaneously, it transferred 6,000 XAUT—valued at roughly $28 million—to Binance, Bybit, OKX, and Bitfinex.
Kraken Extorted by Criminal Group; Refuses to Comply and Cooperates with Law Enforcement Investigation
According to CoinDesk, cryptocurrency exchange Kraken was extorted by a criminal group that threatened to publicly release videos of its internal systems. Kraken stated that it had previously identified and addressed two incidents involving unauthorized access by internal personnel, affecting limited customer data from approximately 2,000 accounts—0.02% of its total user base—but emphasized that its systems were never breached and customer funds remained secure at all times. Nick Percoco, Kraken’s Chief Security Officer, explicitly affirmed the company would not capitulate to criminals. Kraken has notified affected users, enhanced security controls, and is cooperating with law enforcement authorities to advance the investigation; it believes existing evidence is sufficient to identify and apprehend those responsible. Separately, Galaxy Digital recently experienced a similar cybersecurity incident, though it likewise resulted in no loss of customer funds or data.
Kraken’s Approval for a Federal Reserve Master Account Sparks Systemic Risk Concerns
According to Reuters, Kraken has become the first cryptocurrency exchange approved for a Federal Reserve master account. However, the account is restricted: it only permits Kraken’s banking operations to access the Fedwire payment system and hold limited balances—earning no interest and ineligible for emergency lending. This move has raised concerns in the U.S. financial system regarding risk and transparency, including a call from Maxine Waters, Chair of the House Financial Services Committee, for greater disclosure of account details. Regulatory experts warn that lightly regulated crypto firms gaining direct access to the Federal Reserve’s payment system could pose operational and financial stability risks. The Federal Reserve stated that these restrictions are intended to mitigate liquidity shocks and credit risk; however, banks caution that they may impair banking system liquidity and exacerbate money laundering and operational vulnerabilities. Kraken says its bank reserves are fully backed and that it complies with bank-level anti-money laundering (AML) and customer identification requirements.
Blockworks completes Series A extension funding at $192 million valuation, betting on the integration of crypto data and information infrastructure
Blockworks has announced the completion of a Series A extension funding round, achieving a post-money valuation of $192 million. The round was co-led by ParaFi Capital and Reciprocal Ventures, with support from Coinbase Ventures, MoonPay Ventures, and several other institutions and industry participants. The funding also attracted investments from over 20 founders and operators of ecosystem projects including Solana, LayerZero, Arbitrum, and Kraken, though the specific amount raised has not been disclosed.The company stated that while the crypto market has grown to a trillion-dollar scale lacking traditional capital market infrastructure, it still faces issues such as fragmented data, inconsistent disclosure standards, and a lack of investor communication mechanisms. Blockworks aims to fill this gap through a "data + disclosure + investor relations" tripartite architecture. (CNBC)
PrimePiper Launches Prime Broker Dedicated to AI Agents, Enabling Multi-Exchange Connectivity, Cross-Venue Reconciliation, and Risk Control & Audit Capabilities
PrimePiper has launched an enterprise-grade prime broker platform for AI agents, designed to address challenges including fragmented account management, inadequate risk control, inability to reconcile across venues, and insufficient compliance auditing in AI-driven automated trading. According to the company, its infrastructure supports unified connectivity to multiple trading venues—including Hyperliquid, OKX, Tiger Brokers, and Interactive Brokers (IBKR). For risk control, PrimePiper offers enterprise-grade API key management, spending limits, and circuit-breaker mechanisms to constrain AI agent trading behavior. At the execution layer, it enables automated strategy execution via SDK or the Model Context Protocol (MCP). For compliance and auditing, it provides audit-grade reporting capabilities tailored for funds and traders. PrimePiper has been selected for the latest cohort of Founders Inc’s accelerator program; its product is currently in the Alpha stage. Team members hail from Galois Capital, Kraken, DRW, and AWS.
ZachXBT Questions Kraken’s Listing Review Process for Memecore, Citing Anomalous Fund Flows
On-chain investigator ZachXBT questioned Kraken’s due diligence process for listing $M (Memecore) spot trading on July 3, 2025, noting that approximately 7.9 million $M were withdrawn from Kraken to 18 newly created addresses; these addresses collectively now hold roughly 11.7 million $M—valued at approximately $39.8 million at current prices. He also stated that addresses suspected to belong to the Memecore team received 200 million $M during the token generation event (TGE) and transferred 5.3 million $M to Kraken’s deposit address on July 3, 2025.
Kraken’s Approval for a Federal Reserve Master Account Sparks Systemic Risk Concerns
According to Reuters, Kraken has become the first cryptocurrency exchange approved for a Federal Reserve master account. However, the account is restricted: it only permits Kraken’s banking operations to access the Fedwire payment system and hold limited balances—earning no interest and ineligible for emergency lending. This move has raised concerns in the U.S. financial system regarding risk and transparency, including a call from Maxine Waters, Chair of the House Financial Services Committee, for greater disclosure of account details. Regulatory experts warn that lightly regulated crypto firms gaining direct access to the Federal Reserve’s payment system could pose operational and financial stability risks. The Federal Reserve stated that these restrictions are intended to mitigate liquidity shocks and credit risk; however, banks caution that they may impair banking system liquidity and exacerbate money laundering and operational vulnerabilities. Kraken says its bank reserves are fully backed and that it complies with bank-level anti-money laundering (AML) and customer identification requirements.
Related news
Blockworks completes Series A extension funding at $192 million valuation, betting on the integration of crypto data and information infrastructure
Blockworks has announced the completion of a Series A extension funding round, achieving a post-money valuation of $192 million. The round was co-led by ParaFi Capital and Reciprocal Ventures, with support from Coinbase Ventures, MoonPay Ventures, and several other institutions and industry participants. The funding also attracted investments from over 20 founders and operators of ecosystem projects including Solana, LayerZero, Arbitrum, and Kraken, though the specific amount raised has not been disclosed.The company stated that while the crypto market has grown to a trillion-dollar scale lacking traditional capital market infrastructure, it still faces issues such as fragmented data, inconsistent disclosure standards, and a lack of investor communication mechanisms. Blockworks aims to fill this gap through a "data + disclosure + investor relations" tripartite architecture. (CNBC)
A whale deposited SOL withdrawn from Kraken 11 months ago into Binance, facing an unrealized loss of $17.62 million
According to Onchain Lens monitoring, a whale deposited 211,694 SOL into Binance today, worth $177,700. The whale withdrew 200,010 SOL from Kraken 11 months ago, when it was worth $353,900. Based on current prices, the whale is facing a loss of $17.62 million.
A whale withdrew 4,361 ETH from Kraken, valued at approximately $9.98 million
According to Lookonchain monitoring, a whale withdrew 4,361 ETH from Kraken five hours ago, valued at approximately $9.98 million, after three months of inactivity. Another new address withdrew 2,000 ETH from Binance one hour ago, valued at approximately $4.58
A whale withdrew $9.98 million worth of ETH from Kraken
According to Onchain Lens monitoring, a whale withdrew 4,361 ETH from Kraken in the past 30 minutes, worth approximately $9.98 million.The address currently holds a total of 4,383 ETH, worth about $10 million.
Polymarket Q1 Visits Reach 122 Million, Ranking First Among Crypto Application Websites
According to Similarweb data, in Q1 2026, Polymarket ranked first in crypto application website traffic with 122 million visits, surpassing Robinhood (118 million visits).In addition, Coinbase ranked third (78.8 million visits), Kalshi ranked sixth (34.8 million visits), Kraken ranked eighth (22 million visits), Hyperliquid ranked ninth (12.8 million visits), Pump.fun ranked eleventh (8.2 million visits), and Uniswap ranked twelfth (5 million visits).
A dormant whale transfers all 2,301 ETH to Kraken after three years
According to on-chain analyst Onchain Lens (@OnchainLens), a dormant whale has transferred all 2,301 ETH held in its wallet to Kraken; valued at approximately $5.5 million at current prices.