The crypto world is never short of surprises, and this week was no exception. From major institutional Bitcoin purchases to regulatory updates and cross-market expansions, the digital asset space continues to evolve. In this recap, we highlight the top developments that shaped the crypto landscape over the past week.
Strategy Adds 3,459 Bitcoin Worth $292 Million
Kicking off the week on a bullish note, Strategy, formerly known under a different name, added another 3,459 BTC to its growing portfolio. This marks the third consecutive Monday where the company has revealed a major purchase.
As a result, its total Bitcoin holdings now stand at 531,644 BTC, with a current valuation of $45.07 billion. The firm paid approximately $82,618 per Bitcoin for this latest batch, totaling around $292 million.
Clearly, Strategy is solidifying its position as one of the largest institutional holders of Bitcoin. Moreover, this continued accumulation reflects their unwavering confidence in BTC as a long-term asset.
Kraken Expands into Stocks and Forex Markets
Meanwhile, crypto exchange Kraken made a significant move by stepping into the traditional finance space. The platform now offers commission-free trading of stocks and ETFs across select U.S. states and the District of Columbia.
In addition, Kraken has introduced perpetual futures contracts for GBP/USD and EUR/USD pairs, allowing up to 20x leverage through its Derivatives platform. This bold expansion shows Kraken’s commitment to becoming a multi-asset trading hub, not just a crypto-only exchange.
Consequently, this move may attract a broader audience, including traditional investors seeking exposure to both fiat and crypto markets in one place.
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SEC Drops Investigation into CyberKongz
On the regulatory front, the SEC officially closed its investigation into the CyberKongz NFT project. The team shared the news via X (formerly Twitter), signaling a fresh chapter ahead. Following this announcement, CyberKongz also revealed plans for a major rebrand.
Notably, this closure comes amid rising scrutiny over NFTs and securities laws. Therefore, this outcome could be seen as a positive sign for similar projects under the SEC’s microscope.
Semler Scientific Plans $500M Bitcoin-Backed Offering
In other institutional news, Nasdaq-listed Semler Scientific (SMLR) filed a $500 million registration statement with the SEC. The company plans to use the proceeds to purchase Bitcoin, among other strategic purposes.
This move echoes the bold strategies of companies like Strategy and MicroStrategy. As such, it further reinforces Bitcoin’s emerging role as a corporate treasury asset.
OKX Announces U.S. Market Entry
On the international front, Seychelles-based exchange OKX announced plans to launch in the United States. The company is set to introduce a centralized trading platform along with its OKX Wallet to American users.
To support this, OKX has established a regional headquarters in San Jose, California, and appointed Roshan Robert, a former Morgan Stanley and Barclays executive, as its U.S. CEO.
Undoubtedly, this strategic expansion highlights the growing demand for compliant and user-friendly crypto services in the U.S. market.
China’s Local Governments Selling Seized Crypto
Interestingly, a Reuters investigation revealed that Chinese local governments are selling confiscated crypto assets through private entities. Despite the country’s strict ban on crypto trading, these authorities are converting seized tokens into fiat to boost public finances.
Consequently, this contradiction underscores the complex stance China holds toward digital currencies — banning their use while still leveraging their value for economic purposes.
Mantra CEO Burns Tokens After OM Crash
After a massive 90% drop in the value of its OM token, Mantra CEO John Patrick Mullin announced he would burn all team-allocated tokens that were scheduled to vest in 2027.
This proactive step aims to restore trust within the community and stabilize the token’s future trajectory. Additionally, token burns are often perceived as deflationary, which can support price recovery over time.
DWF Labs Invests $25M in World Liberty Financial
Meanwhile, market maker DWF Labs made headlines by acquiring $25 million worth of WLFI tokens from World Liberty Financial — the Trump-backed crypto project.
Furthermore, DWF tied this move to its expansion into New York City and revealed plans to support liquidity for USD1, the upcoming stablecoin associated with the project. With this, political and financial narratives continue to intertwine in the crypto world.
Binance Assists Governments on Crypto Regulation
A report from the Financial Times confirmed that Binance is working closely with multiple governments to develop crypto regulation frameworks and national Bitcoin reserves.
Accordingly, Binance’s influence now extends far beyond the retail sector, positioning the exchange as a key advisor in shaping the future of digital economies.
North Korean Hackers Targeting Crypto Executives
In security news, Manta Network’s Kenny Li shared on X that he was targeted by North Korea’s Lazarus Group via a Zoom phishing attempt. These hackers are increasingly using fake meetings, malware, and stolen identities to exploit individuals in the crypto space.
Thus, the incident highlights the growing sophistication of state-sponsored cybercrime and the need for heightened security measures across all levels of the industry.
eXch Exchange to Shut Down After Alleged Hack Links
In a surprising move, privacy-focused exchange eXch announced it will cease operations by May 1. The platform faces allegations of involvement in the $1.4 billion Bybit hack and possible cooperation with the Lazarus Group.
Although the platform denies wrongdoing, the decision to shut down suggests mounting legal pressure and reputational risk.
Canary Capital Files for TRON Staking ETF
Closing out the week, Canary Capital submitted a filing with the SEC for a TRON-based staking ETF — the Canary Staked TRX ETF. The ETF, if approved, would use BitGo Trust Company as its custodian.
This filing represents a growing trend in crypto-financial products focused on passive income generation through staking mechanisms.
Final Thoughts
To sum up, this week showcased a diverse mix of institutional adoption, platform innovation, and regulatory movement. From Bitcoin buys to ETF filings and government crypto strategies, the industry is expanding its footprint in nearly every direction.
Going forward, expect even more integrations between traditional finance and digital assets — with regulators, investors, and innovators all playing crucial roles.
