Another DAT bites the dust

Kraken parent Payward won a $22 million arbitration award against their previous auditor, Mazars. after suing the company for walking away from a nearly complete audit at the height of Operation Choke Point 2.0 (the widely used term to cover the Biden administration’s unofficial pressure campaign against the crypto industry). Congrats to Kraken. They (and their founder) have been through a lot so it’s nice to see them win. Read more →

Regardless of the fact that India is one of the largest crypto markets in the world – with 39 million traders who hold $2.1 billion in digital assets – the industry continues to exist in a bit of a grey area. So it’s a bit concerning when India’s central bank has renewed its push for crypto policy that is "leaning towards prohibition," while the country's tax department warned that trading via offshore exchanges is hard ‌to track. We’ve covered India’s back-and-forth crypto policy over the years after multiple large exchanges have attempted to acquire stakes in the main exchanges there. Read more →

A Cantor Fitzgerald-backed SPAC (CEPO) and Adam Back’s Bitcoin investment company, BSTR Holdings, have scrapped the original terms of their planned merger and will negotiate a revised deal. The announcement marks a reversal for one of the largest bitcoin treasury deals to potentially reach public markets. The goal was to launch with 30,021 BTC, a stake worth more than $3 billion at the time, increasing ultimately to 50,000 BTC. Read more →

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