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Kraken

Kraken is a major cryptocurrency exchange offering spot and derivatives trading, expanding via acquisitions into regulated futures, FX, and stablecoin payments.

Known aliases

  • Kraken exchange
  • krakenfx
  • Kraken Pro

Relationships

No evidence-backed relationships are recorded.

Current stories

invest5 publishers

BNY talks to Kraken parent Payward about an infrastructure deal on the Nasdaq model

BNY is in talks with Kraken parent Payward, valued at $21 billion when Nasdaq invested, over a custody, trading and payments partnership, CoinDesk reported. Nothing is signed. One source compares the talks to the infrastructure half of Payward's Nasdaq agreement.

Perspective Coverage

5 publishers
Builder
Builder 24%
Operator
Operator 40%
Investor
Investor 36%

Reality

Evidence40
Adoption15
Hype gap+10
Incentives55
Confidence50
invest3 publishers

OpenPayd lists through Titan to pay for a US launch built on 43 acquired licenses

OpenPayd, a London payments firm with $73 million of revenue, expects its Titan merger to close by year-end and fund a US launch by April 2027. With 43 state licenses already bought, the listing mainly supplies cash and shares for the acquisitions its CEO says come next.

Perspective Coverage

3 publishers
Builder
Builder 17%
Operator
Operator 32%
Investor
Investor 51%

Reality

Evidence62
Adoption40
Hype gap+20
Incentives72
Confidence60
invest6 publishers

Coinbase's new clearinghouse stops short of the leveraged contracts that dominate crypto volume

Coinbase won CFTC registration for its own clearinghouse on September 28, ten months after applying, covering only fully collateralized contracts. Its margined book and planned stock perpetuals still clear through partners, so the leveraged trading that dominates crypto volume stays outside.

Perspective Coverage

6 publishers
Builder
Builder 23%
Operator
Operator 39%
Investor
Investor 38%

Reality

Evidence80
Adoption
Insufficient
Hype gap+25
Incentives60
Confidence75
invest2 publishers

SEC's new pre-IPO fraud cases trace investor money away from the deals it was raised for

SEC says Beyond Alpha Ventures put less than half of nearly $6 million raised for pre-IPO stakes into the deals, in one of two cases announced Wednesday. The Owen Meyer case turns on cash moved out of a fund account, so buyers must check who controls the money as well as who holds the shares.

Reality

Evidence60
Adoption
Insufficient
Hype gap+10
Incentives40
Confidence62
invest4 publishers

Payward turns Bitnomial's decade of licenses into an onshore wrapper for Hyperliquid

Selected Hyperliquid perpetuals would trade inside a CFTC-regulated venue Payward bought for as much as $550 million, which is about 14% of one day of Hyperliquid volume. The contract list is the product.

Perspective Coverage

4 publishers
Builder
Builder 11%
Operator
Operator 38%
Investor
Investor 51%

Reality

Evidence50
Adoption12
Hype gap+25
Incentives65
Confidence55
invest8 publishers

Nasdaq's $100m takes about 0.48% of Kraken's parent at a mark 58% above Deutsche Boerse's April entry

The cheque is small enough to read as a partnership fee, and it arrives with a surveillance contract, a 2027 token launch date, and a quarter in which Payward's adjusted EBITDA fell to $23m on $508m of revenue.

Perspective Coverage

8 publishers
Builder
Builder 14%
Operator
Operator 42%
Investor
Investor 44%

Reality

Evidence66
Adoption22
Hype gap+40
Incentives72
Confidence62
invest3 publishers

Four more weeks at this pace takes Bitmine to 5% of Ethereum's supply

Bitmine holds 5,983,940 ETH, 4.9% of supply, and the 121,060 tokens still missing cost about $325m at its own reference price, a bill its cash balance covers twice over. Tom Lee expects institutions in the fourth quarter.

Perspective Coverage

3 publishers
Builder
Builder 7%
Operator
Operator 17%
Investor
Investor 76%

Reality

Evidence62
Adoption45
Hype gap+22
Incentives80
Confidence65

Earlier coverage

  1. USDG traded 36 times its pooled DEX liquidity in September

    Invest · September 20, 2026 · 1 publisher

  2. A 1.00% month puts tokenized RWAs about $4.8 billion behind their 2026 average pace

    Invest · September 14, 2026 · 1 publisher

  3. Coinbase's tokenized stocks averaged $7.4 million a day in their first month on Base

    Invest · September 12, 2026 · 1 publisher

  4. Hunter Biden's LAPTOP token airdrop targets TRUMP losers, Substack subscribers and friends

    Invest · September 8, 2026 · 10 publishers

  5. Nasdaq buys roughly 0.48% of Payward to put voting shares on a blockchain

    Invest · September 11, 2026 · 1 publisher

  6. Nasdaq invests $100 million in Kraken parent Payward, expands tokenized-stock partnership

    Leadership · September 10, 2026 · 1 publisher

  7. Crypto perps put $2.12 trillion on Anthropic by assuming a billion shares

    Invest · September 9, 2026 · 1 publisher

  8. Kraken moved its Celery queues to a new vhost before touching RabbitMQ 4

    Build · September 8, 2026 · 1 publisher

  9. BSP's draft would close the Philippine payment-licence window for twelve months

    Invest · September 7, 2026 · 1 publisher

  10. Two trillion dollars of RWA perpetual volume pays $400,000 a day in fees

    Invest · September 7, 2026 · 1 publisher

  11. Continuous settlement moves treasury's binding constraint from the clock to the ruleset

    Invest · September 4, 2026 · 1 publisher

  12. Anthropic alone could raise four times what the first half's other 57 IPOs did

    Invest · September 2, 2026 · 1 publisher

  13. Coinbase's retail borrowers now carry a quarter of Morpho's record $5bn loan book

    Invest · September 1, 2026 · 1 publisher

  14. London Stock Exchange hands its 100 biggest listings to Kraken's parent to tokenize

    Invest · September 1, 2026 · 2 publishers

  15. Arkham traces $30M of North Korean bitcoin through the exchange Washington wants inside its perimeter

    Invest · September 1, 2026 · 1 publisher

  16. Stablecoin cards moved 0.35 percent of the float to set an August spending record

    Invest · September 1, 2026 · 1 publisher

  17. THORChain puts its own capital into the Monero pools exchanges walked away from

    Invest · August 30, 2026 · 1 publisher

  18. Tokenized equities turned over their entire float nearly ten times in one month

    Invest · August 29, 2026 · 1 publisher

  19. BitMine is 187,000 ETH from 5% of Ethereum, and 96% of its balance sheet is that one token

    Invest · August 24, 2026 · 1 publisher

  20. Zondacrypto's exit was on-chain for months before the site went dark

    Invest · August 23, 2026 · 1 publisher

  21. Tokenized equities now have a duopoly, and one side holds 85% of the flow

    Invest · August 23, 2026 · 1 publisher

  22. The SEC cut crypto's legal risk using instruments the next chair can withdraw

    Invest · August 21, 2026 · 1 publisher

  23. Two agencies now hold the pen on crypto rules, and Congress is the slower option

    Invest · August 21, 2026 · 1 publisher

  24. Binance gives AI agents their own subaccounts, and no loss limit

    Invest · August 21, 2026 · 1 publisher

  25. The bot returned 4.33%. Doing nothing returned 127.77%. The useful part is why.

    Build · August 20, 2026 · 1 publisher

  26. Copilot built the fake Ledger app. A human still only made 20 lookups in two weeks.

    Invest · August 20, 2026 · 1 publisher

  27. Binance gives agents a trading seat, and gives users the permission slip

    Product · August 20, 2026 · 1 publisher

  28. Kraken's Krak Card is a deposit play wearing a debit card's clothes

    Invest · August 18, 2026 · 3 publishers

  29. Prompts, shell history, a jailbreak: AI assistants turn up inside a crypto-fraud build pipeline

    Security · August 18, 2026 · 1 publisher

  30. Kraken Bought Its Way Out of the Exchange Business for $2.75B

    Invest · August 16, 2026 · 1 publisher