Kraken Launches KRAK
Kraken launched a peer-to-peer payments app today that enables users to send and receive funds in both crypto and fiat. The move not only represents an attempt of financial diversification before an upcoming IPO, but a shot across the bow of other neobanks and money transfer apps like Revolut, Block’s Cash App and PayPal’s Venmo. Read more →
Galaxy raises $175 million for first venture fund
While Galaxy $GLXY ( ▲ 5.57% ) has for years invested in digital assets and crypto-native companies using capital from its own balance sheet, for the first time ever the it is taking outside capital to invest in startups. The $175 million fund has already deployed ~$50 million in companies including Monad and the synthetic dollar stablecoin Ethena. Read more →
Crypto to be Counted as Mortgage Collateral
The Federal Housing Finance Agency (FHFA) has directed Fannie Mae and Freddie Mac to treat bitcoin and other digital assets held on US exchanges as eligible assets when sizing up a borrower’s mortgage risk. Until now, homebuyers had to convert their crypto into dollars before closing. Read more →
