{"id":11951,"date":"2025-09-28T13:11:09","date_gmt":"2025-09-28T13:11:09","guid":{"rendered":"https:\/\/bitunikey.com\/news\/kraken-raises-500m-pre-ipo-chinas-digital-yuan-center-tether-funding-round-weekly-recap\/"},"modified":"2025-09-28T13:11:14","modified_gmt":"2025-09-28T13:11:14","slug":"kraken-raises-500m-pre-ipo-chinas-digital-yuan-center-tether-funding-round-weekly-recap","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/kraken-raises-500m-pre-ipo-chinas-digital-yuan-center-tether-funding-round-weekly-recap\/","title":{"rendered":"Kraken raises $500m pre-IPO, China\u2019s digital yuan center, Tether funding round | Weekly Recap"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">From billion-dollar funding talks to courtroom drama and token turbulence, the past week in crypto packed a punch. <\/p>\n<p class=\"is-style-default\">Investment activity intensified across the cryptocurrency sector as SoftBank and Ark Investment entered discussions for Tether\u2019s multibillion-dollar funding round. At the same time, Kraken completed a $500 million raise ahead of its planned 2026 public offering.<\/p>\n<p>Let us dive into this week\u2019s edition of the weekly recap.<\/p>\n<div class=\"wp-block-rank-math-toc-block\" id=\"rank-math-toc\">\n<p>Table of Contents<\/p>\n<nav>\n<ul>\n<li><a rel=\"nofollow\" target=\"_blank\" href=\"#soft-bank-and-ark-explore-tether-investment\">SoftBank, Ark explore Tether investment<\/a><\/li>\n<li><a rel=\"nofollow\" target=\"_blank\" href=\"#kraken-secures-pre-ipo-funding-at-15-billion-valuation\">Kraken secures pre-IPO funding at $15B valuation<\/a><\/li>\n<li><a rel=\"nofollow\" target=\"_blank\" href=\"#aster-exchange-compensates-users-after-token-incident\">Aster exchange compensates users<\/a><\/li>\n<li><a rel=\"nofollow\" target=\"_blank\" href=\"#china-establishes-digital-yuan-international-center\">China establishes Digital Yuan International Center<\/a><\/li>\n<li><a rel=\"nofollow\" target=\"_blank\" href=\"#south-korean-actress-receives-suspended-sentence\">South Korean actress receives suspended sentence<\/a><\/li>\n<li><a rel=\"nofollow\" target=\"_blank\" href=\"#ku-coin-appeals-canadian-enforcement-action\">KuCoin appeals to Canadian enforcement action<\/a><\/li>\n<li><a rel=\"nofollow\" target=\"_blank\" href=\"#european-banks-collaborate-on-mi-ca-compliant-stablecoin\">European banks collaborate on stablecoin<\/a><\/li>\n<li><a rel=\"nofollow\" target=\"_blank\" href=\"#australia-proposes-comprehensive-crypto-licensing\">Australia proposes crypto licensing<\/a><\/li>\n<li><a rel=\"nofollow\" target=\"_blank\" href=\"#ftt-token-surges-on-bankman-fried-social-media-activity\">FTT token surges on Bankman-Fried social media activity<\/a><\/li>\n<li><a rel=\"nofollow\" target=\"_blank\" href=\"#bnb-chain-proposes-transaction-cost-reductions\">BNB Chain proposes cost reductions<\/a><\/li>\n<li><a rel=\"nofollow\" target=\"_blank\" href=\"#zhao-denies-y-zi-labs-fundraising-reports\">Zhao denies YZi Labs fundraising reports<\/a><\/li>\n<li><a rel=\"nofollow\" target=\"_blank\" href=\"#ftx-recovery-trust-sues-genesis-digital-assets\">FTX Recovery Trust v. Genesis Digital Assets<\/a><\/li>\n<li><a rel=\"nofollow\" target=\"_blank\" href=\"#uxlink-suffers-major-security-breach\">UXLINK suffers security breach<\/a><\/li>\n<li><a rel=\"nofollow\" target=\"_blank\" href=\"#world-liberty-financial-announces-debit-card-plans\">World Liberty Financial\u2019s debit card plans<\/a><\/li>\n<\/ul>\n<\/nav>\n<\/div>\n<h2 class=\"wp-block-heading\" id=\"soft-bank-and-ark-explore-tether-investment\">SoftBank and Ark explore Tether investment<\/h2>\n<ul class=\"wp-block-list\">\n<li>Tether, the world\u2019s largest stablecoin issuer, is attracting interest from prominent technology financiers. <\/li>\n<li>Masayoshi Son\u2019s SoftBank and Cathie Wood\u2019s Ark Invest are reportedly among several high-profile firms engaged in early discussions on what\u2019s expected to be Tether\u2019s most significant external fundraising<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\" id=\"kraken-secures-pre-ipo-funding-at-15-billion-valuation\">Kraken secures pre-IPO funding<\/h2>\n<ul class=\"wp-block-list\">\n<li>Kraken, the Cheyenne, Wyoming-based cryptocurrency exchange, completed a $500 million funding round, establishing terms that valued the company at $15 billion. Participants included investment managers, venture capitalists, and co-CEO Arjun Sethi through his Tribe Capital firm.<\/li>\n<li>Sethi also announced that the exchange has committed $2 million to two crypto-aligned political action committees.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\" id=\"aster-exchange-compensates-users-after-token-incident\">Aster exchange compensates users<\/h2>\n<ul class=\"wp-block-list\">\n<li>The BNB Chain-based decentralized exchange <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/Aster_DEX\/status\/1971382643909591467\" target=\"_blank\" rel=\"nofollow\">refunded<\/a> users who experienced losses during \u201cabnormal price movements\u201d on the newly launched XPL token Thursday.<\/li>\n<li>Following multiple compensation rounds, Aster (ASTER) announced complete user reimbursement in USDT stablecoin.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\" id=\"china-establishes-digital-yuan-international-center\">China establishes Digital Yuan International Center<\/h2>\n<ul class=\"wp-block-list\">\n<li>The People\u2019s Bank of China <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.scmp.com\/economy\/china-economy\/article\/3326928\/will-chinas-digital-yuan-centre-be-step-forward-internationalisation\" target=\"_blank\" rel=\"nofollow\">inaugurated<\/a> an international operations center for its central bank digital currency in Shanghai on Thursday.<\/li>\n<li>The facility focuses on improving settlement efficiency while creating infrastructure for broader e-CNY integration across international markets.<\/li>\n<\/ul>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\" id=\"south-korean-actress-receives-suspended-sentence\">South Korean actress receives suspended sentence<\/h2>\n<ul class=\"wp-block-list\">\n<li>Hwang Jung-eum received a two-year suspended prison sentence from Jeju District Court Thursday for embezzling $3 million from her agency to fund cryptocurrency investments.<\/li>\n<li>The court ruled that she violated Korea\u2019s Act on the Aggravated Punishment of Specific Economic Crimes. However, she will avoid jail time unless she commits another crime within the next four years.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\" id=\"ku-coin-appeals-canadian-enforcement-action\">KuCoin appeals Canadian enforcement action<\/h2>\n<ul class=\"wp-block-list\">\n<li>The exchange is <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/fintrac-canafe.canada.ca\/new-neuf\/nr\/2025-09-25-eng\" target=\"_blank\" rel=\"nofollow\">challenging<\/a> a $19 million penalty from Canada\u2019s Financial Transactions and Reports Analysis Centre for failing to register as a money-services business<\/li>\n<li>Seychelles-based Peken Global Limited, operating as KuCoin, allegedly failed to report large cryptocurrency transactions and flag suspicious activities that could involve money laundering or terrorist financing.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\" id=\"european-banks-collaborate-on-mi-ca-compliant-stablecoin\">European banks collaborate on MiCA-compliant stablecoin<\/h2>\n<ul class=\"wp-block-list\">\n<li>Nine major European financial institutions, including ING, UniCredit, and CaixaBank, have united to launch a euro-denominated stablecoin under the Markets in Crypto Assets regulatory framework.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\" id=\"australia-proposes-comprehensive-crypto-licensing\">Australia proposes comprehensive crypto licensing<\/h2>\n<ul class=\"wp-block-list\">\n<li>Treasury officials released draft proposals requiring cryptocurrency firms to obtain financial service licenses and receive treatment as financial products under securities\u2019 regulator oversight.<\/li>\n<li>Digital asset platforms and tokenized custody platforms would face the same licensing and consumer protection requirements as other financial intermediaries.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\" id=\"ftt-token-surges-on-bankman-fried-social-media-activity\">FTT token surges on Bankman-Fried social media activity<\/h2>\n<ul class=\"wp-block-list\">\n<li>The defunct FTX exchange\u2019s native token experienced a 60% price increase in under 15 minutes following an unexpected social media GM post from former CEO Sam Bankman-Fried.<\/li>\n<li>The surge proved temporary, with FTT (FTT) retracing to $0.98 shortly after the initial pump.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\" id=\"bnb-chain-proposes-transaction-cost-reductions\">BNB Chain proposes transaction cost reductions<\/h2>\n<ul class=\"wp-block-list\">\n<li>Validators have <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/BNBCHAIN\/status\/1970504591117897786\" target=\"_blank\" rel=\"nofollow\">proposed<\/a> cutting minimum gas prices from 0.1 Gwei to 0.05 Gwei while reducing block intervals from 750 to 450 milliseconds.<\/li>\n<li>The changes target average transaction costs of approximately $0.005.<\/li>\n<\/ul>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\" id=\"zhao-denies-y-zi-labs-fundraising-reports\">Zhao denies YZi Labs fundraising reports<\/h2>\n<ul class=\"wp-block-list\">\n<li>Former Binance CEO Changpeng Zhao rejected Financial Times reporting that YZi Labs could accept external investors, calling the coverage \u201cfalse news with fake\/wrong\/made-up info.\u201d<\/li>\n<li>Zhao stated that \u201cYZi Labs is not raising an external fund,\u201d contradicting reports suggesting the rebranded venture arm was \u201copen to the possibility of converting into an investment fund.\u201d<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\" id=\"ftx-recovery-trust-sues-genesis-digital-assets\">FTX Recovery Trust sues Genesis Digital Assets<\/h2>\n<ul class=\"wp-block-list\">\n<li>The bankruptcy trust filed suit against the bitcoin mining firm, alleging former CEO Sam Bankman-Fried used commingled funds to invest in the company before FTX\u2019s collapse.<\/li>\n<li>The lawsuit describes Alameda Research\u2019s investment in Genesis Digital Assets as \u201cone of Bankman-Fried\u2019s most reckless investments with commingled and misappropriated funds.\u201d<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\" id=\"uxlink-suffers-major-security-breach\">UXLINK suffers major security breach<\/h2>\n<ul class=\"wp-block-list\">\n<li>The Web3 social platform experienced a compromise of its multi-signature wallet, resulting in tens of millions of dollars in potential losses and a 70% decline in token price.<\/li>\n<li>Security firm Cyvers identified the attack method, noting the hacker executed a delegatecall, removed admin privileges, and transferred at least $4 million in USDT along with additional cryptocurrency holdings.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\" id=\"world-liberty-financial-announces-debit-card-plans\">World Liberty Financial\u2019s debit card plans<\/h2>\n<ul class=\"wp-block-list\">\n<li>Zak Folkman, co-founder of the Trump-backed crypto firm, revealed the project will launch a debit card \u201cvery soon\u201d during Korea Blockchain Week. It will allow users to integrate USD1 with Apple Pay functionality.<\/li>\n<li>The card will complement an upcoming retail application described as \u201cVenmo meets Robinhood,\u201d combining peer-to-peer payments with trading capabilities.<\/li>\n<\/ul>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>From billion-dollar funding talks to courtroom drama and token turbulence, the past week in crypto packed a punch. Investment activity intensified across the cryptocurrency sector as SoftBank and Ark Investment&hellip;<\/p>\n","protected":false},"author":1,"featured_media":11952,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-11951","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/11951","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=11951"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/11951\/revisions"}],"predecessor-version":[{"id":11953,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/11951\/revisions\/11953"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/11952"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=11951"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=11951"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=11951"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}