NEW: Kraken Eyes Funding Options Before IPO Launch, Bloomberg Reveals

Kraken, a prominent crypto exchange, is reportedly considering a fresh funding round that could exceed $100 million as it prepares for a potential initial public offering (IPO), according to Bloomberg sources. This move comes amid increasing investor enthusiasm for cryptocurrencies, highlighted by a significant rally in token prices and over $5.6 billion invested in crypto firms this year.

The exchange could finalize this pre-IPO funding by year’s end, signaling robust confidence in the crypto sector’s growth prospects. Kraken’s strategic focus remains on fostering the widespread adoption of cryptocurrencies, a goal supported by their plans to recruit a high-profile company to their board.

This surge in funding and strategic expansions by Kraken underscores the rising investor confidence in cryptocurrencies, hinting at a broader acceptance and integration of digital assets in mainstream finance.

Bloomberg

Oslo Freedom Forum Witnesses Global Momentum For Bitcoin And Activism

On Wednesday, social-minded Bitcoin proponents from Kenya to Canada to Russia convened on the final day of the 2024 Oslo Freedom Forum as part of the Financial Freedom Track event to offer their insights on how Bitcoin can be a tool for those around the world who need it most.

Alex Gladstein, Chief Strategy Officer for the Human Rights Foundation (HRF), the organization that puts on the Oslo Freedom Forum, kicked off the day by discussing why Bitcoin is essential in a human rights context. He then read two pertinent passages from Lyn Alden’s book Broken Money: Why Our Financial System Is Failing Us And How We Can Make It Better before inviting the author, an esteemed macroeconomic…

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Biden Vetoes Bipartisan Bill To Overturn SEC’s Crypto Custody Rules

On Monday, President Joe Biden has vetoed a bipartisan resolution aimed at overturning the Securities and Exchange Commission’s (SEC) crypto custody guidance. The resolution passed both the House and the Senate and sought to invalidate the SEC’s Staff Accounting Bulletin (SAB) 121.

Presidential Veto Explained

In a letter to the House of Representatives, Biden stressed the importance of the SEC’s guidance in safeguarding investors. “SAB 121 reflects considered technical SEC staff views regarding the accounting obligations of certain firms that safeguard crypto-assets,” Biden stated. He emphasized that the resolution would “inappropriately constrain the SEC’s ability to set forth…

Read more on Benzinga

LATEST: Binance Resumes Crypto Purchases Using Mastercard Payments

Binance, the leading global cryptocurrency exchange, has reactivated the option for users to buy cryptocurrencies using Mastercard. This move marks a significant step for smooth financial operations, allowing transactions up to €5,000 or approximately $5,440, and up to $20,000 for U.S. dollar transactions. The company is also planning to integrate more regulated fiat payment options to simplify crypto purchases further.

Following an intensive compliance review, Mastercard has decided to reinstate its services for Binance, reflecting confidence in the exchange’s enhanced controls and processes. This development comes after a series of regulatory challenges and the recent discontinuation of Binance’s Visa card services in the European Economic Area.

Despite past regulatory hurdles, including allegations by the SEC and other legal challenges against its founder, Binance’s latest partnership with Mastercard signals a potentially stabilizing period for the platform and its users, promoting broader accessibility to cryptocurrencies.

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