News linked to both this project and an event.
: Crypto exchange Kraken has opened subscription for Jersey Mike's planned IPO to retail investors. Eligible U.S. users can apply to subscribe to book-entry shares at the IPO price, while users in over 110 countries and regions can apply for tokenized stock JMKEx. JMKEx is backed 1:1 by the underlying stock and custodied with regulated institutions. Allocation results are determined by the IPO underwriters, and a successful allocation is not guaranteed; after the IPO completion, JMKEx will be tradable on Kraken and participating xStocks Alliance platforms 24 hours a day, 5 days a week. Kraken stated that the tokenized stock can be transferred between platforms participating in the xStocks Alliance, on-chained, and accessed via compatible decentralized finance applications. Jersey Mike's is a U.S. sandwich chain brand with over 3,300 stores. Its expected IPO price is between $21 and $25 per share, and it will be listed on the New York Stock Exchange under the ticker JMKE.
According to on-chain analyst Yu Jin's monitoring, the MakerDAO initial team/investor address (claim address 0x74B...F0E, sell address 0xE26...7dc) sold 1,050 MKR that had been held for 10 years 20 minutes ago, swapping them for 1.316 million USDC and transferring the funds to Kraken. This address claimed the 1,050 MKR in April 2016. Since then, aside from the MKR token upgrade migration in 2018, the relevant MKR had remained unmoved.
According to CoinDesk, Kraken's parent company Payward announced it will expand its tokenized stock platform xStocks to markets outside the United States, planning to partner with investment infrastructure provider GTN to bring listed stocks from Hong Kong, the UK, Europe, and South Korea on-chain, with further expansion to other asset classes subject to regulatory approval. Currently, xStocks supports over 500 tokenized securities, with cumulative trading volume exceeding $35 billion and nearly 200,000 holders, but the product is not currently open to US investors.
According to an official post from Midnight Foundation (@midnightfdn), the Wanchain Cardano<>BNB cross-chain bridge suffered a security attack. Currently, multiple major exchanges including KuCoin, Kraken, Binance, Bybit, OKX, and MEXC have responded rapidly, taking preventive measures to restrict the flow of stolen assets, including freezing relevant accounts and addresses, blacklisting the attacker's wallets, and suspending NIGHT token deposit and withdrawal services. The exchanges confirmed that this incident is an isolated third-party bridge vulnerability and is unrelated to the Midnight Network mainnet and the NIGHT asset itself.
the Midnight Foundation has provided an update on the handling of the cross-chain bridge attack event involving Wanchain Cardano and BNB. Multiple exchanges including KuCoin, Kraken, Binance, Bybit, OKX, Gate, and MEXC have coordinated risk control actions, temporarily freezing the involved accounts and associated addresses, adding the hacker wallet to a blacklist, and pausing NIGHT token deposits and withdrawals as needed to curb the transfer and cashing out of stolen assets.The Foundation specifically noted that this security incident is an isolated incident related to a third-party cross-chain bridge, and the Midnight mainnet and native NIGHT assets have not been affected. The project team continues to collaborate with major exchanges and ecosystem partners to advance traceability investigations, reminding the community to rely on official disclosures for information and to be cautious of misinformation.
Odaily News: Cryptocurrency exchange Kraken has launched USD-settled BTC and ETH options on Kraken Pro, initially available via Request for Quote (RFQ), with the European market to follow soon. Kraken plans to further expand the product through an order book, broader regional coverage, and additional assets. It noted that existing crypto options products are primarily geared toward institutional investors, with insufficient retail participation.
Kraken Institutional has announced a partnership with on-chain yield platform Upshift, allowing eligible institutional clients to earn yields on idle Bitcoin, Ethereum, stablecoins, and other crypto assets directly within Kraken's compliant custody framework. Upshift will build dedicated customized vaults for each client, designed according to their investment strategies, risk parameters, liquidity requirements, and asset portfolios. Assets will be allocated to these non-custodial vaults and subsequently deployed to selected on-chain contracts, with clients' segregated Kraken custody accounts receiving receipt tokens.
As the tokenization of capital markets intensifies, the Securities Transfer Association (STA) recently submitted a comment letter to the U.S. Securities and Exchange Commission (SEC), warning that stock tokens issued by third-party entities could undermine market integrity. The association is calling on regulators to prioritize tokenized securities authorized by listed companies in future rulemaking.The STA represents numerous Wall Street transfer agents, whose members argue that genuine tokenized stocks should be formally authorized by the issuing company and recorded on the official shareholder register, rather than consisting of "wrapped" token products created by independent platforms.The association points out that third-party stock tokens could confuse investors regarding their actual holdings and expose them to platform credit, custody, and operational risks, without establishing a direct legal relationship with the listed company. Therefore, any innovation exemptions, pilot programs, or permanent regulatory frameworks for tokenized securities should be prioritized for the issuer-supported model. The STA also urges the SEC to reform the existing Direct Registration System (DRS), arguing that the current U.S. securities depository system struggles to meet the real-time transfer and settlement demands of on-chain securities. It recommends that regulators collaborate with the Depository Trust & Clearing Corporation (DTCC) to optimize the digital securities infrastructure.Currently, the global tokenized stock market, valued at approximately $2 billion, is predominantly led by the third-party model, including products launched by Ondo Finance and Kraken, while institutions like Securitize and Figure adopt the issuer-authorized model. (CoinDesk)
Kraken has begun allowing eligible users to use select tokenized stocks and ETFs as collateral for futures and margin trading, enabling them to open leveraged positions without selling their existing holdings.The initial offering includes 10 tokenized stocks and ETFs, featuring Apple, Nvidia, Tesla, Strategy, SPDR S&P 500 ETF, and Invesco QQQ Trust. This feature is currently only available to eligible users outside the United States.Kraken has also set collateral limits for different assets, with a maximum collateral value of $1 million for large-cap ETFs, $250,000 for most individual stocks, and $100,000 for tokenized gold and Circle stock. The platform stated that collateral limits and haircut rates will be reviewed periodically and may be adjusted based on market conditions. (Cointelegraph)
Barry Silbert, Founder and CEO of Grayscale's parent company DCG, disclosed via a repost on X that Kraken is about to list Bittensor subnet Alpha tokens. The first batch of listed tokens includes: Chutes, Targon, Score, Ridges AI, Hippius, etc.
The House Financial Services Committee held a hearing on Wednesday to discuss the changing roles of banks and fintech companies, with a key focus being the "skinny master account" option under consideration by the Federal Reserve, which would allow certain crypto banks and fintech companies limited direct access to the Fed's payment system.A Federal Reserve master account allows financial institutions to directly use the Fed’s payment network and gain the most direct access to the U.S. dollar monetary system. Institutions without such an account typically rely on partner banks that hold master accounts to provide services. The so-called "skinny account" is a version with limited functionality, intended to provide restricted access for new types of financial institutions.Republican Representative Dan Meuser stated during the hearing that access to the Fed’s payment system is no small matter, and the core issue is which institutions should be permitted to directly use these critical payment rails. Traditional institutions like community banks worry that crypto and fintech companies are not subject to the same stringent regulations, and granting them direct access could pose safety and soundness risks.The crypto industry generally supports the proposal, arguing that direct access to the Fed’s payment system is long overdue, as it would help reduce reliance on intermediary banks and foster innovation. In May, former President Trump signed an executive order requiring the Federal Reserve to evaluate policies for opening central bank payment rails to fintech companies, including crypto firms.Previously, in March, the Kansas City Fed approved Kraken’s parent company, Payward, for a "limited purpose account," sparking discussions about the extent to which crypto and fintech companies should have direct access to Fed services. A representative from Anchorage Digital stated during the hearing that if the U.S. is to remain the global financial center, it must allow for innovative federal and state-level regulatory frameworks.
Ink, an Ethereum Layer 2 network incubated by Kraken, has reached a multi-year infrastructure agreement with Optimism, upgrading to OP Enterprise Fully Managed.Under the agreement, Optimism will be responsible for running Ink's production infrastructure, while the Ink Foundation will focus on ecosystem growth and new financial products. Additionally, Ink will serve as a deep design partner for OP Enterprise, jointly advancing roadmap plans including programmable block construction, one-day Ethereum withdrawals, and sequencer-level compliance tools.Currently, applications built on the Ink network generate nearly $40 million in annual revenue. This partnership makes Ink another exchange-related blockchain network to join the fully managed layer service, following Bitpanda's Vision Chain. (The Block)
Odaily Chicago Mercantile Exchange Group has filed a lawsuit against the U.S. Commodity Futures Trading Commission (CFTC) and its Chairman Michael Selig in the U.S. District Court for the District of Columbia, concerning the agency's routine approval of cryptocurrency perpetual futures. The lawsuit stems from the CFTC’s May 29 approval of a perpetual futures contract linked to the spot price of Bitcoin by prediction market platform Kalshi, and the issuance of a no-action position for a similar product on the Coinbase exchange. In the filing, CME argues that the CFTC's treatment of "futures" with expiration dates as "swaps" violates directives from the U.S. Congress and the Commodity Exchange Act, and requests the court to invalidate the relevant perpetual futures actions. CME also claims that Selig acted unilaterally without a full panel of five commissioners. A CFTC spokesperson stated that CME is waging a "legal battle" against the agency and the government’s crypto policy, calling the lawsuit "frivolous." Kraken has also announced the launch of perpetual futures trading for U.S. users via the CFTC-regulated platform Bitnomial.
According to The Block, Kraken officially launched its on-chain DEX trading functionality on June 18, enabling users to directly access thousands of tokens within the Solana ecosystem through Kraken’s main app—without leaving their familiar interface. This launch is powered by Kraken’s embedded wallet infrastructure Privy and several leading Solana DEX protocols. DEX assets will be displayed alongside existing assets in the Portfolio view, and users can trade using their USD or USDC balances. Kraken stated that it plans to expand DEX functionality to additional ecosystems in the future.
Avalanche announced the launch of the Avalanche Payments Collective, with 28 organizations already joining the coalition to build payment infrastructure on the Avalanche network. The coalition aims to integrate multiple domains, including settlement, stablecoins, capital infrastructure, foreign exchange, asset management, compliance, and global payments. Members include Franklin Templeton, VanEck, WisdomTree, Paxos, Kraken, Anchorage Digital, Ethena, and the Wyoming Stablecoin Committee.
According to The Block, Kraken has launched cryptocurrency perpetual futures trading in the U.S., with the related products available via Kraken Pro. This launch follows Kraken’s acquisition of Bitnomial—a CFTC-licensed exchange, clearinghouse, and broker—in May.
Nata, an official from Kraken, stated on the X platform that Kraken did not receive the expected Pre-IPO quota from SpaceX's underwriters, resulting in only partial fulfillment of customer orders today. Unfulfilled portions will be fully refunded with no fees charged.Today, Kraken launched trading of SpaceX equity and tokenized SpaceX (SPCXx) for eligible clients on its platform. Demand for SpaceX Pre-IPO access on xStocks has been extremely high. IPO quotas are entirely determined by the issuer's underwriters, and global demand for this issuance has been exceptionally strong.Payward is well-positioned to secure IPO quotas, having attracted over $1 billion in Pre-IPO demand during the week before the listing. Clients will be notified in the coming weeks about opportunities to participate in future IPO Access offerings. Following SpaceX's public listing, Kraken will list SpaceX equity and xStock for eligible clients today. xStocks remains the only platform offering continuous trading of tokenized SpaceX, with trading also available during the first post-listing weekend.
the Bitcoin treasury company Nakamoto officially announced that it generated approximately $48 million in net proceeds by selling about 600 BTC and related derivative positions, thereby repaying approximately $45 million in outstanding debt to Kraken. This move is expected to reduce annual financing costs by approximately $4 million.Following the transaction, the company signed a new loan term sheet with Kraken for the remaining 165 million USDT, with a principal of 105 million USDT deferred to June 30, 2027, and an annual interest rate that can be reduced to 7.75% upon meeting the Bitwise custodied wallet collateral threshold. Additionally, the company’s board of directors has authorized a share repurchase program of up to $25 million. Currently, the company still holds approximately 4,467 BTC on its balance sheet. Furthermore, according to a notice from Nasdaq, the company has regained compliance with listing requirements.
Odaily Odaily Reports: Blockchain oracle and market data provider Pyth Network has announced the launch of continuous price indices for U.S. stocks and commodities, aiming to support around-the-clock trading products in the crypto market. The initial coverage includes U.S. stocks such as Nvidia, Tesla, Apple, Circle, and Strategy, as well as commodities like gold, silver, WTI crude oil, and Brent crude oil.It is reported that Coinbase, Kraken, dYdX, and Nado have been the first to integrate these indices to build new trading markets. This pricing system can provide continuous reference prices for perpetual contracts, tokenized assets, prediction markets, derivatives settlement, and ETF benchmarks, even updating data during traditional exchange closures.Additionally, Pyth is collaborating with MarketVector (a VanEck-owned index provider) to develop sector index futures covering themes such as artificial intelligence, defense, and technology. (Cointelegraph)
According to reports, SpaceX, the aerospace company led by Elon Musk, has attracted over $250 billion in investment demand for its IPO, surpassing its planned fundraising target of $75 billion. The offering is nearly 4 times oversubscribed, valuing the company at $1.8 trillion. Bankers and investors noted that long-term funds have submitted large orders. Pricing is expected to be finalized on Thursday, though demand figures could still change before orders are placed by major institutional investors. SpaceX's growth narrative is primarily tied to its satellite internet business, Starlink, which has become a significant source of revenue and profit for the company. SpaceX also highlighted that its artificial intelligence products address a market opportunity worth $23 trillion. Cryptocurrency exchanges including Binance, Coinbase, Kraken, and Bybit have listed pre-IPO perpetual futures for SPCX this month. Binance's related product has accumulated a trading volume of $2.1 billion over 18 days, covering over 130 countries. Decentralized exchange Hyperliquid recorded a trading volume of $70 million in the past 24 hours, with open interest exceeding $115 million. (Cointelegraph)