KRAKacquisition Corp., associated with Kraken, is actively seeking acquisition opportunities in the crypto market. The firm is targeting valuations from 2 billion USD to 10 billion USD.
After raising approximately 345 million USD in its IPO, KRAKacquisition aims to focus on crypto-native sectors like stablecoins and DeFi. Kraken is also planning its IPO later this year.
Investment firm Blockchain Capital has transferred its entire position of 276,000 AAVE tokens (valued at approximately $24.8 million) to Coinbase Prime. The move follows a similar exit by ParaFi Capital a week earlier, which sold AAVE and reallocated to SKY. Blockchain Capital accumulated 233,000 AAVE between October 2020 and March 2023 at an average price of $94 per token. The firm had previously sold 16,900 tokens in December 2024 for $5.04 million. If the remaining position is sold at current levels, Blockchain Capital would realize approximately $7.9 million in total gains on the accumulated holdings.
TRUMP trading volume is $22.88m. Market capitalization reaches $883.12m.
Bitcoin, Bittensor (TAO), Pudgy Penguins (PENGU), Neiro (NEIRO), and Pi Network (PI) have maintained consistent trending status on CoinGecko over the past 24 hours. Sustained presence on trending lists typically reflects growing community interest and search volume across the platform. These coins have each recorded three occurrences on the trending tracker, suggesting steady engagement from market participants monitoring these assets.
Senator John Thune indicated the crypto-focused CLARITY Act faces further delays due to unresolved disagreements between banks and stablecoin issuers over regulatory framework. The bill addresses stablecoin regulation and digital asset oversight, key priorities for the crypto industry seeking legislative clarity. Continued delays suggest prolonged uncertainty around US crypto regulatory direction.
Bitcoin demonstrated strength throughout the week, trading near $70,658. However, on-chain data suggests caution: BTC’s tight correlation with technology stocks and reactive spot ETF flows indicate the market may not have fully recovered from bearish pressures. The price action reflects continued dependence on broader equity market sentiment rather than independent strength.
This morning, Grayscale staked a significant amount of 57,600 ETH on Coinbase, showcasing its ongoing investment strategy in the cryptocurrency space.
PIP Labs has laid off approximately 10% of its workforce, which includes 5 full-time employees and 3 contractors, primarily from the Story Foundation and the Poseidon project.
Under the leadership of Andrea Muttoni, the company is now focusing on developing AI intellectual property infrastructures and plans to automate licensing and royalty processes through programmable mechanisms.
Crypto market cap stands at $2.41T with 24h volume of $128.77B. BTC dominance at 58.66% and ETH dominance at 10.45%. Bitcoin trades at $70.8K, down 0.95% in 24h but up 3.75% over 7 days. Ethereum at $2.1K, down 1.92% in 24h and up 5.53% weekly.
Top gainers: TRUMP +28.12%, DEXE +9.96%, TAO +7.91%. Top losers: KITE -8.66%, MORPHO -7.22%, ZRO -7.20%.
Futures sentiment shows strong bullish positioning: BTC long/short ratio 1.21 (54.8% long), ETH 1.69 (62.8% long), SOL 2.14 (68.2% long). Options markets show mixed signals: BTC put/call 0.68 with 58.9% implied volatility, ETH put/call 0.58 with 81.1% IV.
Macro backdrop: 2-year Treasury yield up to 3.76 from 3.64, 10-year yield at 4.27 from 4.21. Gold down 2% to $5,023 on stronger dollar. In DeFi, Babylon Protocol (BABY) TVL dropped 23.1% to $1.8B.
The crypto sector has allocated 271 million USD to influence the upcoming 2026 US midterm elections, signaling its intent to shape political outcomes.
Democratic candidates are divided on crypto, with Juliana Stratton facing 7 million USD in negative ads while Raja Krishnamoorthi advocates for crypto-friendly legislation.