Kraken Secures $20B Valuation After $800M Funding Round

OpenAI and SoftBank each committed $500 million to SB Energy to build a 1.2 GW Stargate data center in Texas, advancing the $5 trillion Stargate AI infrastructure initiative. The funding underscores growing private capital flows into large-scale AI compute projects and could boost interest in STG-linked assets.

CoinGecko's founder denied reports that the company is considering a roughly $500 million sale and said it has not engaged Moelis as an adviser. The clarification arrives as M&A activity and valuations heat up across the crypto industry.

The US Senate released a draft crypto bill that assigns regulatory responsibilities, creates an ancillary asset classification, and sets minimum standards for exchanges. The proposal aims to reduce legal uncertainty and introduce clearer oversight for digital-asset markets.

A Kraken-backed SPAC is seeking to raise $250 million in an IPO to invest in companies building infrastructure and services for the digital asset ecosystem. The vehicle aims to accelerate consolidation and capital deployment into custody, trading, and middleware providers.

South Korea’s Digital Asset Exchange Alliance (DAXA) has firmly rejected the Financial Services Commission’s proposal to limit how much crypto users can hold on local exchanges. The move escalates tensions between regulators aiming to curb risk and an industry warning of unintended consequences.