Crypto Treasury Firms Go on $8B Buying Spree in Historic Week

Collector Crypt launched a digital system on Solana where people can buy NFT packs linked to real graded Pokémon cards. Buyers can either keep the NFT or claim the actual card, bringing together digital collecting and physical items.
Marti, a Turkish ride-hailing company, has put 20% of its cash into Bitcoin and plans to increase that to 50%. The move is part of a long-term plan to use crypto as a store of value while keeping its main business growing.
Pumpfun will launch its PUMP token on 12 July, aiming to raise $600 million by selling 15% of its supply across its own site and Gate.com. Despite the hype, the platform’s revenue and user activity have dropped sharply, while rival LetsBonk is gaining ground.
North Korea-linked hackers stole $3.2 million in crypto from Solana wallets and moved the funds to Ethereum. They laundered nearly $2 million using Tornado Cash, with over $1 million still sitting in an Ethereum wallet.
Invesco and Galaxy filed for a Solana ETF, aiming to give investors regulated access to the SOL token. Another filing proposes a new ETF mixing memecoins and NFTs from the Pudgy Penguins collection, marking a first of its kind in the market.
Sol Strategies, a Canadian crypto investment firm, has applied to list on Nasdaq after heavily investing in Solana tokens and staking operations. Despite a recent $3.5 million loss, the company aims to raise more capital and grow its presence in the US market.
The SEC has asked Solana ETF issuers to quickly update their filings, speeding up the approval process with decisions possible within weeks. This includes allowing staking features, which could boost investor interest and confidence in Solana.
Dubai’s VARA has signed an MoU with the Solana Foundation to advance blockchain innovation and talent development. Despite this, SOL remains over 2% down in the past 24 hours and below its January peak although it saw a slight uptick during the recent Bitcoin-led market pullback.
The SEC raised legal concerns about new Ethereum and Solana ETFs that include staking rewards, saying they may not qualify under current investment rules. REX and Osprey must address these issues before the funds can launch.
The SEC has filed a complaint against Kraken, alleging the cryptocurrency platform operated without necessary registrations, combining multiple roles without proper approval. The accusations include providing a marketplace for securities transactions, acting as an unregistered exchange, and commingling customer funds with its own. Kraken's CEO disputes the claims, sparking a broader debate on the SEC's role in regulating cryptocurrency exchanges and the industry's future.
The crypto market’s steady growth since the start of 2023 was checked by pronounced losses this week.
Bloomberg reported that the investigation was at an “advanced stage” and “could lead to a settlement in coming days.”
In response to a poor cryptocurrency market, Kraken has chosen to cease operations in Japan for a second time.
According to a recent report, Kraken's new CEO, Dave Ripley, announced that he does not intend to register Kraken with SEC.
Jesse Powell, Kraken CEO, talks more in detail about why he decided to shut down Kraken’s headquarters in San Francisco. ...
Jesse Powell said that starting in 2022, the exchange will expand into a marketplace for non-fungible tokens and NFT-backed loans.
Kraken was previously aiming to implement the BItcoin Lightning Network in 2021 after officially announcing the plan in late 2020.