BitGo Files To Go Public
BitGo, the crypto custodian that was almost acquired by Galaxy Digital (GLXY) in 2022, has confidentially filed for a U.S. listing, joining a wave of companies looking to capitalize on strong market momentum. Founded in 2013 and best known for safeguarding digital assets for exchanges, funds, and corporates, BitGo did not disclose the size of the offering or proposed price range. The company's platform reportedly has over $100 billion in assets under custody. Read more →
Welcome Back, Polymarket
Just weeks after prosecutors shut down a probe of the company, Polymarket has acquired QCEX, a small CFTC-regulated exchange and clearinghouse for $112 million, paving the way for the popular predictions market to re-enter the US market. Polymarket’s success up to this point is somewhat symbolic. It’s leveraged crypto’s tech to outshine traditional forecasting and has turned regulatory setbacks into a comeback. For crypto enthusiasts, its also more evidence that today’s administration actually wants leading tech back onshore. Read more →
FBI Drops Probe of Kraken founder
Two years ago, federal agents raided the home of Jesse Powell, the outspoken founder of crypto exchange Kraken, amid a Justice Department crackdown on the industry. The twist? It wasn’t about Kraken. The probe targeted a petty dispute with Verge, an arts non-profit Powell founded in 2008. Powell claims Verge executives conspired to oust him, while the FBI searched his house over alleged “hacking and cyber-stalking.” Now, the Justice Department has dropped the case, returned his seized devices, and left lingering questions about their aggressive tactics and a leak to the NYT. Read more →
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