Kraken has introduced Bitcoin Vault, a new product that lets users earn bitcoin-denominated rewards on their holdings through DeFi strategies.
The product, part of Kraken Earn, allows long-term bitcoin holders to generate passive yield without selling their assets or managing positions across multiple platforms. It maintains full exposure to bitcoin's price while deploying funds automatically into lending protocols.
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Kraken announced it is switching its wrapped Bitcoin token kBTC to Chainlink's Cross-Chain Interoperability Protocol. The move follows the KelpDAO exploit that resulted in a $292 million loss and heightened concerns over bridge security in DeFi. The exchange will make CCIP the exclusive cross-chain infrastructure for kBTC and future wrapped assets.
Payward, the parent company of crypto exchange Kraken, announced a partnership with asset manager Franklin Templeton to develop a range of blockchain-based investment products for institutional investors.
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Kraken expects to launch Bitcoin perpetual futures trading for US institutions within 30 days. The move follows CFTC approval of such contracts for institutional participants.
Tokenized U.S. Treasuries climbed to a new high of 15.35 billion dollars in value locked on May 13. Bitcoin held above 80,000 dollars but showed limited upside as traders weighed rising odds of a Federal Reserve rate increase. The shift comes ahead of key inflation data and political meetings.
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A federal case is unfolding over $71 million in frozen cryptocurrency following the Kelp DAO exploit, as Aave seeks to release the funds for DeFi recovery. Victims of decades-old North Korean terrorist acts have filed a restraining notice against Arbitrum DAO, claiming the 30,765 ETH as DPRK-linked property. The dispute pits recent hack victims against long-standing terrorism judgment holders.
Rising US Treasury yields reached 5.18 percent on May 20, pressuring Bitcoin prices below $80,000. Spot Bitcoin ETFs recorded net outflows of about 14,000 BTC in the latest week.
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Payward, the parent of crypto exchange Kraken, announced plans to let retail investors participate in U.S. IPOs at the offering price using tokenized shares.