Crypto changes every single day. It’s easy to miss big news if you don’t keep track. That’s why CryptoDaily and StealthEX bring you a quick weekly recap. No heavy jargon. No endless scrolling. Just the stories that really matter, told in a way that makes sense. Think of it as your shortcut to staying in the loop. Curious about what’s been happening last week? Let’s get started.
Kraken has raised $500 million in fresh capital, giving the exchange a $15 billion valuation. The move comes as talk of an upcoming public listing grows louder in the crypto industry.
Sources told Fortune the round closed without a lead investor, suggesting the firm dictated its own terms. Venture funds, asset managers, and co-CEO Arjun Sethi participated. Sethi invested through Tribe Capital, the fund he co-founded. His growing role at Kraken has been notable since joining last year.
The company has not filed an S-1 with the Securities and Exchange Commission. That document is required for any official public listing. Still, many observers see Kraken’s recent steps as preparation for Wall Street. Founded in 2013, the exchange ranks among the world’s top 15 platforms. CoinMarketCap data shows it processes close to $2 billion in daily trades.
The IPO push comes as competitors make headlines. Gemini’s debut was oversubscribed, raising $425 million and lifting its value to $2.8 billion. Circle, the USDC issuer, raised over $1 billion in June, with shares jumping 167% on day one. Crypto lender Figure also listed this year, with a market cap above $8 billion.
Naver Financial is preparing to acquire Upbit operator Dunamu in a share-swap deal. The transaction will make Dunamu a wholly owned unit of the South Korean fintech giant.
The deal strengthens Naver’s position as a leader in digital finance. Once finalized, the share exchange will give Naver direct control of Upbit, South Korea’s largest crypto exchange. Both companies will remain intact legally, though Dunamu will function under Naver’s umbrella. The agreement follows a July partnership between the two to develop a stablecoin pegged to the Korean won.
Reports indicate a joint task force is finalizing details. Naver will issue new stock in return for shares held by Dunamu’s current investors. The structure consolidates operations while aligning strategic goals.
This move comes as the government develops a legal framework for digital assets. Lawmakers are advancing a bill to establish won-based stablecoins, which could launch by year-end. The Democratic Party has also formed a digital asset committee to guide regulations.
For Upbit, tighter integration with Naver could strengthen resilience after recent regulatory challenges. The exchange previously faced a three-month suspension tied to compliance issues. A stronger corporate structure may help Upbit avoid similar setbacks as oversight grows in South Korea.
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Tether is reportedly in talks to raise as much as $20 billion, valuing the company at around $500 billion. The stablecoin issuer is offering investors a 3% stake through a private placement.
CEO Paolo Ardoino confirmed the plans, noting that Cantor Fitzgerald is advising the round. The company aims to attract a select group of high-profile backers. While insiders caution that the final figures could fall short of the headline number, even a partial success would place Tether among the world’s most valuable firms.
Ardoino explained the raise would support expansion across multiple sectors, including AI, commodities, and media. The funding could also bolster distribution of Tether’s stablecoin, USDT, which remains the dominant dollar-backed token. USDT holds a market capitalization above $170 billion and accounts for more than half of the global stablecoin supply.
Despite its low public profile, Tether has become a profit machine. The firm reported $4.9 billion in profit in the second quarter alone, pushing year-to-date gains beyond $5.7 billion. By comparison, rival Circle is valued at $30 billion.
The raise comes as the U.S. pushes new rules under the GENIUS Act. The law sets standards for stablecoin issuers, a development that could ease Tether’s return to the American market.
peaq has partnered with KanayaAI and DualMint to launch a tokenized vertical farm in Hong Kong. The project combines AI-driven robotics with blockchain-based ownership.
The farm will produce vegetables such as lettuce and kale across 12 annual harvests. Traditional farms usually manage only three or four. Robotics and hydroponics will handle 80% of labor, cutting costs while increasing yield by 20%. The vertical design allows for ten times more land efficiency and uses only one-tenth of the water.
Ownership rights are represented by NFTs minted through DualMint. Token holders will earn revenue-based yields, projected at 20% annually. A waitlist is now open through the peaq portal.
Executives emphasize the system’s resilience compared with volatile crypto markets. Demand for groceries remains constant regardless of token prices. The model highlights how real-world demand can anchor Web3 innovations.
The project aligns with Hong Kong’s push for sustainability while also showcasing blockchain’s role in physical infrastructure. For urban communities, tokenization offers a way to co-own farms and secure fresh produce subscriptions.
DualMint plans to expand the model with additional robotic systems. peaq sees this as the start of a broader Machine Economy, where communities share income from automated assets instead of leaving value concentrated in corporate hands.
Bubblemaps has launched Intel Desk, a platform rewarding users for uncovering scams and exploits across the crypto space. The tool, now in beta, is already tracking major incidents.
Investigators have used it to document a $113 million exploit of $UXLINK and suspicious activity around $SFUND. Each case includes detailed timelines, transaction maps, and preserved on-chain records. Unlike social media threads that vanish quickly, Intel Desk creates a lasting, structured archive.
The initiative formalizes what independent researchers have done for years. By offering recognition and token incentives, it encourages broader participation. Contributions are evaluated through a rating system that favors speed, accuracy, and impact.
Central to the model is the $BMT token. Community members can stake support behind cases, boosting visibility and rewards. Bubblemaps also plans bounty pools funded in BMT for urgent investigations.
Founder Nicolas Vaiman explained that scams are multiplying while oversight lags behind. Intel Desk gives the industry a collective response system. Early testers include high-profile sleuths like ZachXBT, alongside everyday users.
By coordinating efforts, the platform aims to strengthen transparency and accountability. As new tokens flood the market daily, a permanent intelligence layer could help protect investors from costly traps.
CoinStats has integrated Glider Token Risk, a contract-scanning engine built by cybersecurity firm Hexens. The tool analyzes tokens for more than 22 categories of risk.
The integration comes as scams rise sharply. Last year, 74,000 malicious tokens appeared, draining nearly $10 billion from traders. Many contained built-in exploit logic from the start.
Glider works by decomposing smart contract code. It examines every function and path to detect vulnerabilities. Common risks include blockable transfers, hidden fees, centralized minting, and upgradeable contracts. Each flagged issue includes a clear explanation, helping traders without technical skills understand the threats.
For CoinStats, the update shifts the app from a portfolio tracker into a full security platform. It offers education, analysis, and real-time warnings before traders commit funds.
The tool supports Ethereum, BNB Chain, Polygon, Arbitrum, Optimism, Avalanche, Base, and more. Subscribers on the Degen plan can access the scanner across iOS, Android, and web.
With token launches accelerating, the feature could build safer trading habits. Not every low-trust project is a scam, but clear visibility into contract risks gives traders a stronger defense.
The U.S. Senate Finance Committee will hold a hearing on October 1 to examine crypto taxation. Lawmakers will hear testimony from policy experts, lawyers, and industry leaders.
Scheduled speakers include Coinbase Vice President Lawrence Zlatkin, Coin Center’s Jason Somensatto, and Andrea Kramer of ASK Kramer Law. Annette Nellen from the American Institute of CPAs will also participate. The session will take place at the Dirksen Senate Office Building.
The debate comes amid calls to modernize outdated tax rules. Senator Cynthia Lummis introduced legislation in July aimed at clarifying digital asset taxation. The White House has also urged Congress to provide clear guidance on stablecoin payments and small-scale mining or staking rewards.
One major point of contention is the corporate alternative minimum tax, introduced under the Inflation Reduction Act. Critics say the provision forces companies to pay on unrealized gains, creating burdens for crypto firms. Senators Lummis and Bernie Moreno have asked Treasury Secretary Scott Bessent to exempt digital assets from the calculation.
How the hearing unfolds could shape the future of tax treatment for millions of U.S. crypto users. For exchanges and businesses, it may define obligations that directly affect profitability and compliance.
KuCoin has been fined C$19.6 million ($14 million) by Canada’s financial regulator FINTRAC for anti-money laundering failures. The exchange is appealing the decision in federal court.
According to FINTRAC, KuCoin operator Peken Global failed to register as a foreign money service business. The regulator also accused the firm of not reporting large transactions above C$10,000 and neglecting suspicious activity reports.
FINTRAC director Sarah Paquet said the agency aims to protect Canadians and the economy. She added that while regulators work with businesses on compliance, penalties will be enforced when firms fall short.
KuCoin disputes the claims, stating the penalty is excessive. In a statement, the exchange said it does not consider itself a foreign money service business under Canadian law. The appeal seeks to overturn both the classification and the fine.
The exchange has faced penalties abroad as well. In the United States, it paid $300 million last year for operating an unlicensed money service business. Despite the challenges, KuCoin says its services remain unaffected and user funds remain secure.
Founded in 2017, KuCoin serves over 40 million users worldwide. The outcome of the case may influence how regulators treat foreign crypto platforms in Canada.
Senator Elizabeth Warren and fellow Democrats are calling for an investigation into possible conflicts of interest involving Trump administration officials. The focus is on technology deals with the United Arab Emirates.
Warren and Representative Elissa Slotkin sent letters to several inspector generals. They want scrutiny of David Sacks, Trump’s AI and crypto adviser, and Steve Witkoff, special envoy to the Middle East. Both men reportedly played roles in easing restrictions on advanced AI exports to the UAE.
Lawmakers allege financial ties to Sheikh Tahnoon bin Zayed Al Nahyan, who invested $2 billion in Trump’s USD1 stablecoin. Reports suggest Witkoff and Sacks could have profited personally from policy decisions.
Critics argue this represents a clear conflict of interest. Witkoff holds a stake in World Liberty Financial, while his son brokered a UAE-backed deal linked to USD1. Sacks manages a fund with Emirati backing that invests in USD1 infrastructure.
Warren said the pattern raises national security concerns. She warned that crypto-linked corruption should not undermine U.S. foreign policy. Democrats argue the case underscores the need for transparency as Congress considers new digital asset legislation.
The U.S. Commodity Futures Trading Commission is considering allowing stablecoins and other tokenized assets as collateral in derivatives markets. Acting chair Caroline Pham confirmed the agency is seeking feedback.
Pham described stablecoin collateral as a natural evolution for markets. She called it a “killer app” for tokenized finance. If adopted, regulated stablecoins such as USDT and USDC could be treated like cash or Treasury bonds.
The move follows the passage of the GENIUS Act, which sets a legal framework for U.S.-issued stablecoins. Executives from Circle, Coinbase, Ripple, and Tether have voiced support. Circle’s Heath Tarbert said using trusted stablecoins as collateral could cut costs and unlock global liquidity.
Coinbase legal chief Paul Grewal added that tokenized collateral would modernize U.S. markets and strengthen competitiveness. Ripple’s Jack McDonald said clear rules on custody and settlement will help institutions trust the system.
The proposal is part of the CFTC’s wider “crypto sprint,” which includes consultations with executives and pilots for tokenized assets. SEC chair Paul Atkins has also hinted at temporary relief measures to help crypto companies innovate.
The decision could mark a turning point for the integration of digital assets into traditional finance.
This article is not supposed to provide financial advice. Digital assets are risky. Be sure to do your own research and consult your financial advisor before investing.
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