Coinbase Eyes major Derivatives Acquisition
Coinbase is reportedly in talks to acquire Deribit, a global derivatives platform. This move could considerably boost Coinbase’s market position.Deribit, based in Dubai, was valued at $4-5 billion earlier this year.The acquisition could lead to a strong bearish breakout for Coinbase stock in the coming weeks.
Meanwhile, Kraken, another crypto exchange, has agreed to buy NinjaTrader, a U.S. retail futures trading platform, for $1.5 billion. This acquisition aims to expand Kraken’s services to include 24/7 trading for both traditional and crypto futures.
dubai Launches Real Estate Tokenization
The Dubai Land Department has initiated a property tokenization pilot program. This initiative uses blockchain technology for property title deeds, marking the first such program by a property registration authority in the Middle East.
South Korea Targets Unregistered Crypto Exchanges
South Korean authorities are preparing sanctions against unregistered cryptocurrency exchanges. The financial Intelligence Unit (FIU) is targeting exchanges that fail to register as Virtual Asset Service Providers (VASPs).
Regulators Lift Tornado Cash Sanctions
The U.S. Treasury has lifted sanctions against Tornado Cash,a cryptocurrency mixer. Previously, it was accused of aiding North Korea’s Lazarus Group in laundering stolen funds. This decision reflects a shift in regulatory stance.
Strategy Raises Capital for Bitcoin Purchases
Strategy has raised approximately $711.2 million through an upsized preferred stock offering.The company plans to use this capital for continued Bitcoin purchases. Between March 10-16, Strategy bought an additional 130 Bitcoin for about $10.7 million.
LG Shuts Down NFT Platform
LG has announced the closure of its NFT platform, LG Art Lab, after three years. The company plans to shift focus and explore new opportunities, indicating a strategic reevaluation of its digital asset initiatives.
Ripple Resolves SEC Legal Battle
ripple’s four-year legal dispute with the U.S. Securities and Exchange Commission has concluded. Ripple CEO Brad Garlinghouse confirmed the resolution on X, stating, “It’s over.” This outcome follows several partial legal victories for Ripple.
Gemini Appoints New CFO
Cryptocurrency exchange Gemini Trust has appointed Dan Chen as its new Chief Financial officer. Chen, formerly of Affirm, announced his appointment on LinkedIn and X. This timing coincides with reports that Gemini is preparing for an initial public offering.
