Crypto Weekly Roundup: Kraken and Tether Make Bank, & More

This week in crypto, Kraken announced the completion of a $500 million funding round at a $15 billion valuation. Meanwhile, Tether is also exploring a major fundraising as it eyes a $500 billion valuation in a deal that could make it one of the most valuable companies in the world. Meanwhile, the US Senate has scheduled a hearing to examine the subject of taxation of crypto ￰0￱ are some of the biggest developments of the ￰1￱ Cryptocurrency exchange Kraken has completed a $500 million funding round at a $15 billion ￰2￱ raise comes amid rumors that the exchange is preparing for an initial public offering (IPO). The funding round saw participation from several firms and investors, and did not have a lead ￰3￱ Financial is set to acquire Dunamu, the entity operating Upbit, one of South Korea’s most prominent cryptocurrency ￰4￱ acquisition will be completed via a share-swap deal and will make Dunamu a wholly-owned subsidiary of Naver ￰5￱ , the entity behind USDT, the world’s largest stablecoin, is in talks to raise $20 billion at a $500 billion ￰6￱ the deal goes through, it would make Tether one of the world’s most valuable companies alongside OpenAI and SpaceX.

Web3 Water150 , a project developed by the Longhouse Foundation to reserve access to premium spring water through a transparent, blockchain-based ecosystem of natural water springs, has introduced its first natural water well, Satra ￰7￱ , an on-chain blockchain intelligence platform, has announced the launch of Intel Desk, designed to reward community members for identifying scams, rug pulls, and suspicious activity across the crypto ￰8￱ , a blockchain network for the Machine Economy, has launched the world’s first tokenized vertical ￰9￱ robo-farm, developed in partnership with KanayaAI and tokenization platform DualMint, brings AI-driven automation and real-world assets together in a new model for sustainable, community-driven ￰10￱ CoinStats has integrated the Glider Token Risk, a breakthrough scanning technology from cybersecurity firm ￰11￱ new integration brings advanced token analysis tools to traders ￰12￱ also gives them instant access to over 22 smart contract risks before they ￰13￱ The United States Senate has scheduled a high-profile hearing on October 1 to examine the taxation of crypto ￰14￱ hearing will involve several industry experts, including representatives from Coinbase and Coin Center.

Canada’s FINTRAC has imposed a C$19.6 million ($14.09 million) penalty on Peken Global Limited, the entity operating ￰15￱ states the platform failed to comply with Canadian anti-money laundering policies. However, KuCoin has appealed the decision in ￰16￱ Elizabeth Warren , along with several Democrats and ethics lawyers, has called for an investigation into potential ethics violations related to deals with the United Arab ￰17￱ Trump administration has recently relaxed restrictions on the sale of sensitive national security technology to the United Arab ￰18￱ Commodity Futures Trading Commission (CFTC) plans to allow tokenized assets, including stablecoins, to be used as collateral in derivatives markets.

Disclaimer: This article is provided for informational purposes ￰19￱ is not offered or intended to be used as legal, tax, investment, financial, or other advice