Illustration of Kraken switching wrapped Bitcoin to Chainlink after KelpDAO exploit
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Kraken moves wrapped bitcoin to chainlink after kelp dao exploit

Picha iliyoundwa na AI
Kiswahili

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.

Kraken is deprecating its prior cross-chain provider and routing kBTC through Chainlink CCIP. The 1:1 Bitcoin-backed token allows BTC to operate on networks including Ethereum, Unichain, OP Mainnet, and Ink, with reserves held at Kraken Financial, a Wyoming-chartered depository institution.

Makala yanayohusiana

Illustration depicting DTCC integrating Chainlink for their tokenized collateral platform using blockchain technology.
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DTCC to integrate Chainlink for tokenized collateral platform

Imeripotiwa na AI Picha iliyoundwa na AI

The Depository Trust & Clearing Corporation will use Chainlink technology to power its blockchain-based Collateral AppChain platform. The integration supports 24/7 automated collateral management and is set for a Q4 2026 launch. It builds on prior collaboration between the two firms.

Solv Protocol to migrate $700 million assets to Chainlink

Solv Protocol is shifting more than $700 million in tokenized Bitcoin from LayerZero to Chainlink's CCIP. The move follows Kelp DAO's similar decision after a major exploit.

Kelp blames LayerZero for approving $292 million hack setup

Imeripotiwa na AI

Kelp DAO has accused LayerZero personnel of approving the 1-of-1 verifier setup blamed for a $292 million exploit on its rsETH bridge. The protocol plans to migrate from LayerZero's OFT standard to Chainlink's CCIP. The hack has been linked to North Korea's Lazarus Group.

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A wave of cryptocurrency exchange initial public offerings in 2025 highlighted the sector's maturation, but recent setbacks reveal heavy dependence on Bitcoin's price movements. Gemini's post-IPO struggles and Kraken's frozen listing underscore vulnerabilities to market cycles. Exchanges must prove revenue stability beyond Bitcoin rallies to sustain investor interest.

Starknet launches strkBTC for shielded Bitcoin balances

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Starknet introduced strkBTC on May 12, enabling Bitcoin holders to lock BTC and access shielded balances via an ERC-20 token. The token supports both public and private modes on the Starknet network. Users gain privacy tools but must rely on new intermediaries for the service.

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NYSE announces plans for tokenized securities platform

Imeripotiwa na AI

In January 2026, the New York Stock Exchange and its parent company Intercontinental Exchange announced plans to develop a tokenized securities platform, marking a shift in traditional finance. This move highlights tokenization's transition from experimental crypto applications to core Wall Street operations. However, experts emphasize that building compliant and liquid on-chain markets remains the key challenge.

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