We have compiled the most significant news from the crypto industry over the past two weeks.<\/p>\n
The second-largest cryptocurrency exchange in the United States, Kraken, is reportedly discussing with potential investors to raise more than $100 million as part of a pre-IPO<\/a> by 2025. This was reported by Bloomberg<\/a>, citing informed sources.<\/p>\n Representatives of the platform declined to discuss the possibility of going public, noting their “ongoing exploration of strategic paths for global cryptocurrency adoption.”<\/p>\n In April 2021, Coinbase listed its shares on Nasdaq under the ticker COIN. Kraken had planned to follow its competitor through a direct listing but later leaned towards a more traditional structure. At that time, CEO Jesse Powell announced plans to list shares on the stock market in the second half of 2022.\u00a0<\/p>\n In November 2023, the SEC<\/span> accused the company of offering unregistered securities in the form of digital tokens on its platform.\u00a0<\/p>\n In February 2024, Kraken filed a motion<\/a> to dismiss the Commission’s lawsuit, citing the creation of a “dangerous precedent” for the regulator’s authority.<\/p>\n A month later, the organization introduced<\/a> a custodial service for its institutional platform, Kraken Institutional.\u00a0<\/p>\n Medical device manufacturer Semler Scientific, listed on Nasdaq, purchased an additional 247 BTC<\/a> for approximately $17 million.\u00a0<\/p>\n In total, the company holds 828 BTC on its balance sheet. The firm spent $57 million on these acquisitions. At the time of writing, the investments have yielded a 4% return ($2.22 million).<\/p>\n Semler Scientific’s management plans to raise $150 million, with a portion allocated for purchasing digital gold.<\/p>\n “Bitcoin is an attractive investment and can serve as a reliable store of value. We will continue to adhere to our strategy of purchasing the first cryptocurrency,”<\/em> commented Semler Scientific CEO Doug Murphy-Chutorian.<\/p>\n<\/blockquote>\n Previously, Matt Horn, head of digital asset strategies at Fidelity Investments, recommended allocating 1\u20135% of capital to bitcoin, regardless of beliefs.<\/p>\n OKX expanded<\/a> into the Netherlands by launching a local trading platform and Web3 wallet.<\/p>\n The CEX<\/span> allows residents to trade approximately 150 cryptocurrencies, including at least 60 trading pairs denominated in euros. Staking and lending are also available.<\/p>\n OKX integrated support for the local payment system iDeal to ensure seamless deposits and withdrawals in the single European currency. Deposits and withdrawals are also possible through SEPA<\/a>.<\/p>\n In April, the company launched<\/a> its own Ethereum-based L2 network called X Layer. The initiative aims to provide low fees and compatibility for users interacting with dapps<\/span>.<\/p>\n Led by Sunil Kavuri, a group of FTX creditors filed an objection to the compensation plan. The plan proposed<\/a> that 98% of clients would receive at least 118% of their claims.\u00a0<\/p>\n CAHC has filed a objection to the FTX Plan<\/p>\n 1) Plan is unconfirmable as a matter of law \u2014 Sunil (FTX Creditor Champion) (@sunil_trades) June 6, 2024<\/a><\/p><\/blockquote>\n Semler Scientific Increases Bitcoin Holdings to 828 BTC<\/strong><\/h2>\n
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OKX Launches Platform for Dutch Residents<\/strong><\/h2>\n
FTX Creditors Challenge Platform’s Reorganization Plan<\/strong><\/h2>\n
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2) Includes releases not in interest of the estate
3) Ignores property rights issue
4) Does not satisfy the best interest test pic.twitter.com\/rpXxz0tmP2<\/a><\/p>\n