- Unchained Daily
- Posts
- Kraken Woos Wall St. 🥰
Kraken Woos Wall St. 🥰
🏦 Trump Media and Crypto.com to launch ETFs, 📊 Kraken mulls $1B debt raise before possible IPO, 🚀 Polymarket launches on SOL, 💰 Dogecoin Foundation sets up DOGE reserve, and more!
Adrian Zmudzinski
March 25, 2025
Hi! In today’s edition:
💱 Trump Media, Crypto.com team up for ETFs
💰 Kraken mulls a $1 billion fundraise
💹 Polymarket expands to Solana
🏦 Dogecoin Foundation creates DOGE reserve
It’s never been easier to get rewarded in crypto!
We’re inviting you to try RockWallet, a multi-currency wallet that’s easy, quick, and secure. New accounts that make $50 purchases of a supported coin can earn up to $250 in LTC.
By Tikta
Trump Media and Crypto.com to Launch ETFs
Trump Media and Technology Group has signed a non-binding agreement with Crypto.com to launch a series of exchange-traded funds and exchange-traded products through its Truth.Fi brand.
The ETFs will comprise digital assets, which are expected to include a basket of tokens such as BTC and Crypto.com’s native token, CRO, alongside other securities with a "made in America" focus.
Crypto.com will provide the backend technology and custody for the funds, which will be made available through exhange’s broker, Foris Capital.
The firms plan to launch the ETFs late this year, subject to regulatory approval. Trump Media began laying the groundwork for their launch in early February.
On Feb. 6, the firm behind Truth Social registered trademarks for six funds, including the Truth.Fi Made in America ETF and the Truth.Fi Bitcoin Plus ETF.
Kraken Mulls $1B Debt Raise Ahead of Potential IPO: Report
Crypto exchange Kraken is working with Wall Street banking giants Goldman Sachs and JPMorgan Chase on a debt raise of $200 million to $1 billion, according to a report by Bloomberg that cited unnamed sources with knowledge of the matter.
The sources told Bloomberg that discussions were still in their preliminary stages, but that the two banks had started talks with other banks and direct lenders. The funds would be funneled into boosting Kraken’s growth rather than its operations, they said.
Kraken is also said to be considering an initial public offering during the first quarter of next year.
Earlier this month, the firm acquired leading U.S. retail futures trading platform NinjaTrader for $1.5 billion in the largest-ever deal combining traditional finance and crypto.
Polymarket Enables SOL Deposits
Polymarket has officially launched on the Solana blockchain, giving users the option to make deposits using Solana’s native token, SOL.
The expansion allows Polymarket to move beyond Circle-issued stablecoin USDC, upon which it mainly relied for deposits. However, trades on the prediction market will still be executed on the Polygon network.
The Solana community celebrated the development. One benefit of allowing direct Solana deposits on Polymarket is the fact that funding is streamlined while maintaining Polygon for trades, potentially leading to more efficient liquidity routing.
The Solana integration could further diversify Polymarket’s user base and the types of markets in which they participate.
Solana has more than $7.6 billion of deposits in DeFi protocols — over 10 times those of Polygon.
Dogecoin Foundation Sets Up 10M DOGE Reserve
The Dogecoin Foundation, through its newly formed corporate arm, the House of Doge, has launched an official Dogecoin reserve with an initial purchase of 10 million DOGE valued at around $1.82 million.
The immediate goal is to create a proof of concept that shows the Dogecoin blockchain is capable of facilitating “seamless and efficient” transactions, the House of Doge said.
It envisions Dogecoin becoming popularized, leveraging its low transaction fees and inflationary mode.
Its plans include strategic partnerships in the coming months that aim to showcase DOGE’s real-world utility.
DOGE, once the OG memecoin that dominated headlines and comprised a chunk of some trading portfolios, is currently trading 75% below its all-time high of $0.738.
Mantle is building the largest sustainable hub for on-chain finance. Launching three new core innovation pillars: Enhanced Index Fund, Mantle Banking and MantleX.
✒️ Kentucky Governor Andy Beshear on Monday signed into law a "Bitcoin Rights" bill safeguarding crypto users' rights to self-custody, node operation, and mining, while similar Bitcoin reserve legislation is advancing in Oklahoma, Arizona, and Missouri.
📈 Binance today suspended a Binance Wallet employee suspected of insider trading by front-running token trades using confidential information obtained from an earlier role at BNB Chain, and is considering further legal action.
💱 Bankrupt crypto exchange Mt. Gox has transferred 11,501 Bitcoin worth more than $1 billion in its third major movement this month, fueling speculation about imminent creditor payouts.
💰 Two Arizona bills aimed at creating state-managed strategic reserves of digital assets, including Bitcoin, cleared the House Rules Committee on Monday and are now headed for a full House vote, although they face a potential veto by Democratic Governor Katie Hobbs.
🕵️ Massachusetts regulators launched an investigation into Robinhood's newly introduced prediction markets, citing concerns over promoting gambling-like activities to younger investors.
💲 Circle will officially launch its USDC stablecoin in Japan on March 26 through SBI VC Trade after receiving regulatory approval, with plans to expand listings to other major Japanese exchanges soon.
💸 Bhutan, leveraging its hydroelectric power to mine Bitcoin since 2019, recently moved $63 million of Bitcoin, and is now holding $889.9 million in total crypto investments — equivalent to 30.7% of its GDP.
🥸 Less than two weeks after its shutdown by international law enforcement, the sanctioned Russian crypto exchange Garantex, known for aiding ransomware gangs and oligarchs, has reportedly rebranded itself as Grinex, rapidly transferring liquidity and users.
✒️ Abu Dhabi Global Market on Monday signed a memorandum of understanding with Chainlink to integrate blockchain data with traditional finance, aiming to promote innovation and bolster Abu Dhabi's role as a regional financial and crypto hub.
💎 A major Bitcoin whale added $200 million of Bitcoin after previously selling over 11,400 BTC amid recent price fluctuations, coinciding with similar significant movements by other major investors such as BlackRock and long-dormant Bitcoin wallets.
🏦 Dubai-based DWF Labs on Monday launched a $250 million Liquid Fund targeting strategic investments between $10 million and $50 million to accelerate the adoption of mid- to large-cap blockchain projects.
