Cryptocurrency Markets see Major Developments Amid Regulatory Scrutiny
last week was packed with big moves in teh crypto world. Platforms like Polymarket and kalshi are seeking massive funding,aiming for valuations of up to $9 billion and $5 billion,respectively.
Gemini, a major player, went public, raising $425 million. Shares opened at $37.01,much higher than the predicted price,giving gemini a valuation of around $3.3 billion.
Tether introduced USAT, its first US-regulated stablecoin. It hired Bo Hines, a former White House crypto advisor, to lead its American operations.
Simultaneously occurring,Coinbase is still dealing with regulatory issues. It asked a federal court to investigate deleted texts from former SEC Chairman gary Gensler. Despite this, the SEC dropped its case against Coinbase.
Avalanche Foundation plans to raise $1 billion with AVAX for treasury companies. This move ensures better management of its-token holdings and attracts more institutional investors.
Binance teamed up with Franklin Templeton to create tokenized asset products. This collaboration leverages both firms’ strengths in the crypto space.
Arkham Intelligence exposed that defunct piracy site Movie2K still holds 45,000 Bitcoin, which German authorities failed to seize.
OpenSea is gearing up for its long-awaited token launch. The platform is finalizing reward programs and enhancing its mobile app for smoother transactions.
Michael Saylor’s firm keeps buying Bitcoin. In the latest acquisition, it purchased 1,955 BTC, bringing total holdings to 638,460, solidifying its position as the biggest corporate Bitcoin holder.
HashKey, another major exchange, launched a $500 million fund for digital asset treasuries. This fund focuses on Bitcoin and ethereum, aiming to build a diverse portfolio.
