Cryptocurrency exchange Kraken has pledged $2 million to pro-Trump advocacy groups, marking a significant escalation in the industry’s political engagement. Co-CEO Arjun Sethi announced the donations as a defensive move against what he termed regulatory threats to crypto’s foundational principles. The commitment follows massive political contributions from other crypto leaders, including the Winklevoss twins’ $21 million Bitcoin donation, signaling a strategic shift from traditional lobbying to ideological alignment with constitutional values.
about Kraken Donates $2M to Pro-Trump Crypto PAC
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November 19, 2025 | 17:10
November 19, 2025 | 17:10
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Arjun Sethi
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Crypto Bubble Fears Rise as Leaders Warn of Overvaluation
Concerns about a cryptocurrency bubble are mounting among industry experts, with Kraken co-CEO Arjun Sethi acknowledging short-term bubbles in quarterly trends. The market surge, fueled by pro-crypto regulations under Trump and IPOs from firms like Circle and Bullish, has pushed Bitcoin to record highs and the total crypto market cap above $4 trillion. However, skeptics caution that hype-driven valuations are unsustainable. Data from Architect Partners shows a 15% drop in digital asset treasury stocks last week, while Barry Silbert predicts 99% of cryptocurrencies will go to zero. Investment firm Elliott Management also warns that a bubble collapse could destabilize financial markets, highlighting risks to both investors and the broader economy.
about Crypto Bubble Fears Rise as Leaders Warn of OvervaluationKraken Acquires Breakout to Expand Proprietary Trading
Cryptocurrency exchange Kraken has acquired Breakout, a startup that provides capital to traders based on proven skill rather than financial backing. The deal, announced on Thursday, enables Kraken to enter the proprietary trading space by funding traders who demonstrate strong risk management and strategic discipline through Breakout’s evaluation process. This follows Kraken’s $1.5 billion acquisition of NinjaTrader in May 2025, further expanding its trading infrastructure. Co-CEO Arjun Sethi emphasized the goal of rewarding demonstrated performance over pedigree, aligning with Kraken’s push to innovate capital allocation in trading.
about Kraken Acquires Breakout to Expand Proprietary TradingCrypto Leaders Urge Trump to Block Bank Fees Threatening Open Banking
More than 80 executives from top crypto and fintech firms, including Gemini, Kraken, and Andreessen Horowitz, have urged President Trump to prevent banks from imposing fees on consumer financial data access. In a letter, they warned that these fees, set to take effect in September, would stifle innovation, limit competition, and harm consumer choice. The group accused major banks of consolidating power and undermining progress in crypto, AI, and digital wallets. Kraken’s co-CEO Arjun Sethi called the fees ‘technically backwards’ and a threat to open finance, while Gemini’s Tyler Winklevoss emphasized consumers’ right to control their financial data. The industry warns these fees could cripple fintech innovation and small businesses.
about Crypto Leaders Urge Trump to Block Bank Fees Threatening Open BankingRobinhood & Kraken Report Strong Crypto Gains Amid Volatility
Robinhood and Kraken released their Q2 2025 earnings, showcasing strong crypto performance despite broader market volatility. Robinhood reported a 45% YoY revenue increase to $989 million, with crypto alone contributing $160 million—a 98% YoY surge. The platform expanded its offerings with tokenized equities in Europe and plans for an Arbitrum-based Layer 2 protocol. Kraken, meanwhile, posted $411.6 million in revenue, down 13% QoQ but up 18% YoY, with funded accounts growing 37% YoY. Kraken also strengthened its regulatory standing, securing MiCA authorization in Ireland and a Canadian Restricted Dealer license. Both firms are pushing innovation and compliance to capture more market share.
about Robinhood & Kraken Report Strong Crypto Gains Amid VolatilityJPMorgan’s Fintech Fees Spark Crypto Access Debate
JPMorgan Chase’s plan to impose fees on fintech companies for accessing customer account data has drawn sharp criticism from industry leaders. CEO Jamie Dimon framed the policy as a protective measure, emphasizing user consent and data limits, while acknowledging the costs of maintaining secure APIs. Fintech and crypto executives, including Affirm’s Alex Rampell and Kraken’s Arjun Sethi, warn the fees could restrict money flows into crypto and entrench traditional banks’ dominance. The debate highlights tensions between data ownership, open finance, and competitive barriers in banking infrastructure.
about JPMorgan's Fintech Fees Spark Crypto Access DebateKraken Airdrops $PUMP to Users After Sale Glitches
Kraken is compensating users who experienced order failures during Pump.fun’s $PUMP token sale by airdropping tokens acquired from secondary markets. The sale was oversubscribed within 60 seconds, leaving many unable to participate. Kraken’s co-CEO confirmed eligibility based on verified intent, with automatic distributions planned. Meanwhile, $PUMP trades above its public sale price, meaning users may receive tokens at a premium. Other exchanges like Bybit faced similar technical issues but have yet to announce compensation. Pump.fun’s $500M ICO concluded in just 12 minutes, though not all announced tokens were distributed.
about Kraken Airdrops $PUMP to Users After Sale GlitchesKraken Expands Tokenized Stocks to BNB Chain
Kraken has announced the expansion of its xStocks product to Binance-backed BNB Chain, enabling global users to trade tokenized US equities such as AAPLx and TSLAx. These assets, issued by Backed as BEP-20 tokens, will integrate seamlessly with DeFi platforms like PancakeSwap. Kraken’s co-CEO, Arjun Sethi, emphasized the importance of chain-neutral, always-on capital markets, describing tokenized equities as ‘programmable settlement primitives’ for instant global transfers. The move aligns with a broader industry trend, as firms like BlackRock and Robinhood increasingly explore tokenization—a market projected to hit $30 trillion by 2030. However, Galaxy Digital warns that 24/7 trading could heighten volatility and disrupt traditional exchanges like the NYSE, which may lose market share to blockchain-based platforms offering real-time settlement and decentralized ownership.
about Kraken Expands Tokenized Stocks to BNB ChainSolana’s xStocks Bring Tokenized Equities to Crypto Wallets
Backed’s xStocks enables users to trade tokenized versions of major U.S. equities like Apple, Tesla, and Nvidia on the Solana blockchain, with 1:1 backing by real shares held by a regulated custodian. Available on centralized exchanges Kraken and Bybit in select regions, as well as via decentralized protocols like Jupiter, xStocks allows 24/7 trading, global access, and integration with DeFi. Unlike previous ‘mirrored’ assets, xStocks ensures redeemability and custody of underlying shares. Meanwhile, platforms like Coinbase and Robinhood are also advancing tokenized stock offerings, signaling a growing trend in bridging traditional finance with blockchain technology.
about Solana's xStocks Bring Tokenized Equities to Crypto WalletsKraken Secures MiCA License for EU Crypto Expansion
Kraken has received a regulatory license under the EU’s Markets in Crypto Assets (MiCA) framework, granted by the Central Bank of Ireland. This authorization enables the exchange to offer crypto services across the EU and EEA, reinforcing its commitment to compliant expansion. The move comes shortly after Coinbase secured a similar license in Luxembourg, highlighting the industry’s push to align with MiCA. The euro now accounts for 17.5% of global fiat crypto trading volume, more than double from a year ago. However, concerns remain about firms exploiting lighter-touch jurisdictions under MiCA’s ‘passporting’ system, with ESMA currently reviewing Malta’s licensing practices.
about Kraken Secures MiCA License for EU Crypto Expansion