Tekedia Weekend Blockchain and Crypto Roundups

Kraken, a major cryptocurrency exchange, announced its agreement to acquire NinjaTrader, a leading U.S.-based retail futures trading platform, for $1.5 billion. This deal, subject to certain purchase price adjustments, marks a significant move for Kraken to expand its offerings beyond cryptocurrencies into traditional futures trading, leveraging NinjaTrader’s status as a Futures Commission Merchant (FCM) registered with the U.S. Commodity Futures Trading Commission (CFTC). This acquisition enables Kraken to offer crypto futures and derivatives trading to its U.S. customers for the first time while also supporting its broader strategy to become a multi-asset trading platform, with plans that include equities trading and payments.

BOK officials have stressed Bitcoin’s extreme price volatility as a primary deterrent. They’ve noted that the cryptocurrency’s value can experience wild swings—recently trading around $83,500 after dropping 23% from a peak of $108,000 earlier in 2025. They argue that such fluctuations could lead to significant risks for South Korea’s foreign exchange reserves, which currently stand at approximately $410 billion. Specifically, they’ve pointed out that in times of market instability, transaction costs to convert Bitcoin into cash “could rise drastically,” undermining the liquidity and reliability needed for reserve assets.

Goldman Sachs mentioned cryptocurrencies for the first time in its 2024 annual shareholder letter, marking a significant acknowledgment of the growing influence of digital assets in the financial industry. The letter, released in March 2025, highlights the increasing competition driven by new technologies, including cryptocurrencies, blockchain, and artificial intelligence, which are reshaping financial markets.

Specifically, the bank noted that some competitors offer crypto-related financial products that Goldman Sachs currently does not provide, potentially influencing client preferences. This mention reflects a shift in Wall Street’s perspective, driven by factors such as Bitcoin’s success, the approval of spot Bitcoin ETFs, and broader institutional interest in blockchain technology.

Bitcoin’s market capitalization has indeed positioned it as one of the world’s largest currencies when compared to the monetary base of various fiat currencies. Historically, around 2019, it was noted as the 11th largest money supply globally, surpassing currencies like the Australian dollar and South Korean won, based on its market cap at that time. However, these rankings can fluctuate with Bitcoin’s price volatility and changes in the circulating supply of traditional currencies.

The CME Group launched Solana (SOL) futures on March 17, 2025. This initiative introduced two contract sizes: a standard contract of 500 SOL and a micro-sized contract of 25 SOL. These futures are cash-settled, based on the CME CF Solana-Dollar Reference Rate, which provides a daily benchmark price for Solana in U.S. dollars. The launch reflects growing institutional interest in Solana and responds to increasing demand for regulated cryptocurrency products to manage price risk.

Robinhood has recently launched a prediction markets hub in partnership with Kalshi, a regulated exchange under the Commodity Futures Trading Commission (CFTC). This new feature allows Robinhood users to trade contracts based on the outcomes of various real-world events, such as sports, politics, and economic indicators. The hub debuted with offerings like contracts on the Federal Reserve’s target interest rate for May and the men’s and women’s NCAA basketball tournaments, aligning with the timing of March Madness.

Strategy (Nasdaq: MSTR; STRK) announced its intention to launch a new Series A Perpetual Strife Preferred Stock (STRF) offering. Subject to market and other conditions, the company plans to offer 5,000,000 shares in a public offering registered under the Securities Act of 1933. The proceeds from this offering are intended to be used for general corporate purposes, including the acquisition of additional Bitcoin and for working capital. The STRF stock will feature a fixed cumulative dividend rate of 10.00% per annum, payable quarterly starting June 30, 2025, provided the dividends are declared by Strategy’s board of directors.

Cathie Wood, the founder and CEO of Ark Invest, has expressed interest in tokenizing her firm’s investment funds. She has specifically mentioned plans to tokenize funds such as the Ark Venture Fund (ARKVX) and the Digital Asset Revolution Fund once U.S. regulations permit. Wood sees tokenization—converting traditional assets into digital tokens on a blockchain—as a way to enhance financial transparency, increase investor participation, and potentially revolutionize fund management. She believes this could align with Ark Invest’s focus on disruptive innovation, particularly in areas like blockchain technology and digital assets.

The U.S. Securities and Exchange Commission (SEC) has ended its appeal against Ripple Labs Inc. This development stems from a court ruling in July 2023 by U.S. District Judge Analisa Torres, which determined that the XRP token sold by Ripple on public exchanges did not meet the legal definition of a security. The SEC had initially appealed this decision, but recent updates indicate the agency has withdrawn its appeal. The decision to drop the appeal marks a significant moment in the legal battle that began in December 2020, when the SEC accused Ripple of raising over $1.3 billion through an unregistered securities offering by selling XRP.