The cryptocurrency has entered uncharted territory, but a Standard Chartered Bank digital assets researcher says this is exactly what he predicted. BTC Breaches $112K; Is $120K the Next Stop? Bitcoin surged to an all-time peak of $112K on Bitstamp this afternoon and has been hovering around $111.7K as it gradually advances to the $120K target
Traders were betting on BTC hitting $120K and $130K price targets by May or September.
Key Takeaways: Kraken’s move into tokenized equities expands the role of crypto exchanges in delivering traditional financial instruments through decentralized infrastructure. Around-the-clock trading may challenge legacy exchanges to revisit fixed-hour models and operational dependencies. Institutional engagement with tokenized assets is likely to grow as platforms demonstrate viability through real-time integration of trading, custody, and redemption. Kraken will launch tokenized versions of over 50 U.S. stocks and exchange-traded funds (ETFs) for non-U.S. users, according to a Wall Street Journal report published on May 22. The rollout will start with offerings including Apple , Tesla, and Nvidia, and will target investors in Europe, Latin America, Africa, and Asia in the coming weeks. https://twitter.com/krakenfx/status/1925578761212150007 Tokenized Equities Set to Trade 24/7 Backed by Real Shares The digital assets, branded as “xStocks,” will be issued on the Solana blockchain and backed by underlying shares held by Backed Finance. Each token will be redeemable for the cash value of the corresponding security, a structure intended to maintain price alignment with traditional markets. The service includes shares of major companies like Apple, Tesla, Nvidia, and ETFs such as SPY and GLD. Kraken said the tokens will trade around the clock, including outside U.S. market hours. “There’s a lot of friction,” Kraken co-CEO Arjun Sethi said. “It typically involves very high fees and slow settlement times.” Kraken customers will be able to hold and transfer xStocks like other digital assets. The company said future functionality may include wallet transfers or use as collateral. The product will not be available to U.S.-based users. Kraken stated that it is engaging with regulators in jurisdictions where the tokens will be offered. The announcement comes amid broader interest in tokenized securities. The Securities and Exchange Commission (SEC) recently held a roundtable on the topic, while firms such as BlackRock and Robinhood have introduced related proposals. Kraken Reports $472 Million Q1 Revenue Kraken reported $472 million in revenue for the first quarter of 2025, according to its latest financial update. Adjusted EBITDA reached $187 million, a 1% increase from the same period last year despite a 7% dip in revenue compared to Q4 2024. The company cited a 29% year-over-year increase in trading volume and a 26% rise in funded accounts. While trading activity slowed following a strong Q4, the exchange said its user retention remained stable, supported by new tools and onboarding processes introduced in recent months. The introduction of tokenized equities shows a broader trend to bypass traditional brokerage systems and extend market access through blockchain infrastructure. Around-the-clock trading and instant settlement challenge long-established norms in how stocks are bought and held. This shift also tests regulatory assumptions. While platforms begin merging digital assets with traditional instruments, questions around custody, settlement, and oversight will become harder to separate from broader market structure debates already underway. Frequently Asked Questions (FAQs) How might tokenized equities reshape collateral practices in crypto lending? If widely adopted, tokenized stocks could serve as collateral in decentralized finance (DeFi) protocols, allowing borrowers to access liquidity without selling core equity positions. Could tokenized stocks influence cross-border tax reporting or compliance standards? The portability of tokenized assets across wallets and jurisdictions may challenge existing tax frameworks, pushing regulators to reassess reporting obligations for synthetic exposure to foreign equities. How do settlement rights differ between token holders and traditional shareholders? Token holders typically lack voting rights or direct legal claims on corporate actions, raising questions about their standing in cases of shareholder litigation or dividend distribution. The post Kraken Debuts 50+ Tokenized U.S. Stocks for 24/7 Trading – Americans Excluded appeared first on Cryptonews .
According to reports, Kraken plans to launch over 50 tokenized stocks and ETFs, including for big-name companies like Apple, Tesla and Nvidia. The tokenized stocks will allow non-U.S. customers to trade American stocks on the Solana blockchain. Kraken is now joining the league of major industry players exploring ways to digitize traditional assets like stocks, bonds, and real estate. BlackRock and Robinhood have shown interest in tokenizing securities. Others like JPMorgan and Franklin Templeton are also already testing tokenized assets in pilot programs. Kraken plans to launch xStocks Kraken, a U.S.-based cryptocurrency exchange, has announced plans to launch tokenized versions of over 50 popular U.S. stocks and exchange-traded funds (ETFs) for its non-U.S. customers. The offer will not be available to U.S.-based users due to regulatory restrictions. The offer allows investors outside of the U.S. to buy and trade tokenized shares of companies like Apple, Tesla, and Nvidia. It also gives them access to ETFs such as the SPDR S&P 500 and SPDR Gold Shares. The tokens called “xStocks” will enable customers in regions such as Europe, Latin America, Africa, and Asia to trade these tokenized assets 24/7, even when traditional markets are closed. This development is set to roll out in the coming weeks. Kraken’s xStocks tokens will be issued on the Solana blockchain and each xStock will represent a tokenized version of a real-world stock or ETF. The tokens will be backed by shares of the underlying security with Kraken’s partner company, Backed Finance. Customers will be able to redeem the tokens for the cash value of the underlying stock or ETF. Kraken suggests this model could significantly lower the cost and complexity for international investors seeking exposure to U.S. equities. “There’s a lot of friction,” Kraken’s co-CEO, Arjun Sethi said, stating that tokenization could ease the process of investing across borders. The company hopes that xStocks will eventually be traded on other crypto exchanges, transferred to personal digital wallets, and even used as collateral for crypto-based lending or trading strategies. Tokenized securities are the new wave In 2021, before Kraken attempted to bring sticks to the blockchain, Binance launched a similar initiative with tokenized versions of U.S. stocks like Tesla. However, the offering was quickly made unavailable after the company experienced significant regulatory pressure. Kraken appears to be taking a more cautious and compliant approach. A spokesperson for the company said that the company is “actively working with various regulators” to ensure the xStocks are offered legally in each region. Firms like BlackRock and Robinhood Markets have also expressed interest in exploring tokenization, and have cited benefits such as improved settlement speeds, reduced costs, and enhanced transparency as reasons for their interest. The Securities and Exchange Commission ( SEC ) recently hosted a roundtable to explore the implications of tokenizing traditional securities. Advocates of tokenization argue that it could transform how assets are traded, settled, and stored by eliminating intermediaries and enabling real-time, round-the-clock trading. For investors in regions with limited access to U.S. financial markets, Kraken’s xStocks could offer an opportunity for them to participate in high-profile American companies. Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now
Key Takeaways: Courts now require crypto investors to prove actual losses, not hypothetical gains, to win damages. UK regulators face pressure to speed up licensing or risk losing crypto firms to rival hubs. Post-2026, crypto platforms must report user trades or face £300-per-user fines. £9 billion in hoped-for gains evaporated when a UK court on May 21 slammed the Bitcoin SV lawsuit shut, ruling investors should have sold their coins immediately after the token’s delisting. The bombshell verdict slams the door on speculative crypto lawsuits, demanding cold, hard proof of losses. The decision narrows the case to two investor groups, setting a strict precedent for courts requiring hard data, not hype, to award crypto compensation. BREAKING UK COURT THROWS OUT $11.9B BITCOIN SV LAWSUIT AGAINST BINANCE RULES INVESTORS COULD HAVE LIMITED LOSSES AFTER 2019 DELISTING pic.twitter.com/yQqyQbbPvU — DustyBC Crypto (@TheDustyBC) May 22, 2025 Why the Court’s ‘Duty to Mitigate’ Ruling Reshapes Crypto Litigation The panel, led by Master of the Rolls Sir Geoffrey Vos, dismissed the growth theory as “speculative.” It also found Bitcoin SV lacked uniqueness, citing the claimants’ own comparisons with Bitcoin and Bitcoin Cash. Since Bitcoin SV kept trading on other platforms, the court used the market-mitigation rule. It stated: “Damages, if any, must reflect market value shortly after delisting—not hypothetical future highs.” The ruling narrows the case to two groups: “Sub-class A” and “Sub-class C.” “Sub-class A” investors who sold Bitcoin SV soon after the delistings can still pursue compensation for the immediate £16-per-coin drop identified by the Competition Appeal Tribunal. “Sub-class C” users who lost access to their Bitcoin SV coins on exchanges such as Kraken or Binance may also proceed, but any award will be capped at the value of their holdings plus provable consequential losses. Binance’s successful strike-out slashed its potential liability from over £10 billion to a small fraction. The exchange, along with Bittylicious, Payward (Kraken’s parent), and ShapeShift, still faces the remaining claims. However, the court’s stance clarifies that future damages will depend on actual price data and not speculation. UK Crypto Hub Dreams vs. Reality: Is Regulation Driving Talent Away? Britain’s push to become a crypto hub keeps hitting obstacles, partly due to missteps by regulators and industry players. UK's Delayed Regulation Hurts Plan to Be Global Crypto Hub, Executives Say: CNBC Read more: https://t.co/patHtRDBZP #Crypto #Bitcoin #Ethereum pic.twitter.com/YcSVa1yv8q — SAM (@saeedomv) May 1, 2025 Executives from Coinbase, Ripple, and Augmentum Fintech have criticized the UK government, citing slow licensing, unclear stablecoin policies, and a lack of local funding. These issues, they say, are driving startups to set up in the EU, Singapore, the Gulf, and the U.S. instead. Coinbase UK’s Keith Grose warned that without faster, smarter regulation, Britain risks losing its fintech advantage . Augmentum’s Tim Levene added that risk-averse pension funds are starving homegrown crypto firms of much-needed capital. Yet while the UK has been slow to update its rules, it hasn’t hesitated to enforce existing ones. On April 28, the High Court in Manchester shut down BTCMining Limited after customers on six continents paid for crypto-mining contracts received no returns or withdrawals. Insolvency Service investigators discovered the company had no genuine UK address and could not contact sole director Stibich Martins Yhaicha Luzia; its websites went dark once the probe began. Action Fraud has logged losses topping £15,000, and officials fear the real tally is far higher. Chief investigator David Usher said the shutdown protects global consumers and shows regulators “will act quickly when crypto firms abuse trust.” Will New Rules Attract or Strangle Crypto Firms? Britain seems to be taking industry concerns seriously, launching consultations to shape its crypto regulations. On May 1, the Financial Conduct Authority (FCA) opened discussions on staking, lending, borrowing, intermediaries, and DeFi, marking the next phase in the UK’s crypto rulemaking. This follows the Treasury’s draft legislation, which expands oversight of exchanges, stablecoin issuers, and decentralized platforms. @TheFCA is seeking input into how the unique aspects of cryptoassets should be considered in the UK's future regulatory regime. This includes discussion on the features of the future regime, with this latest Discussion Paper (DP) seeking views on how UK regulates trading… pic.twitter.com/52F91VYUIT — The British Blockchain Association (@Brit_blockchain) May 2, 2025 Meanwhile, HM Revenue & Customs (HMRC) announced stricter reporting rules starting January 1, 2026. Crypto platforms must now track and submit customer names, addresses, tax IDs, trade history, and transaction volumes or face fines of up to £300 per user for non-compliance. The government positions these moves as consumer protection and a way to boost innovation. Chancellor Rachel Reeves called the approach “open for business, closed to fraud” and promised close coordination with U.S. and EU regulators. Industry groups welcome clarity, yet press Downing Street to appoint a dedicated crypto envoy to accelerate policy delivery and capture investment. Frequently Asked Questions (FAQs) What role do crypto “substitutes” play in future delisting disputes? Courts may analyze coin liquidity, technical overlap, and market access to assess mitigation options. Projects with fewer substitutes (e.g., niche tokens) could face stronger claims if delisted. Could investors who sold BSV after the immediate drop still sue? Likely not. The court’s focus on the “duty to mitigate” implies losses post-immediate period (e.g., selling later at lower prices) would be deemed avoidable, barring extraordinary circumstances like fraud or platform malfeasance. Could expert testimony on crypto’s “unique growth potential” sway future cases? Unlikely after this precedent. Courts now demand empirical price data, not theoretical valuations. Experts would need to tie losses to observable market trends, not speculative narratives like adoption or tech breakthroughs. The post UK Judges Slam $11.9B Bitcoin SV Lawsuit – Proof of Losses Now Required appeared first on Cryptonews .
On Thursday, the crypto markets shine green as Bitcoin approaches a remarkable $112,000, fueling upward momentum for Ethereum, Solana, and Dogecoin. Bitcoin has surged to a new record high, driving
XRP traded at $2.43 today with a market capitalization of $142 billion and a 24-hour trading volume of $3.754 billion. The intraday price range fluctuated between $2.35 and $2.45, positioning the asset near local highs and prompting close attention from technical analysts. XRP Short-term chart analysis of the 1-hour timeframe reveals XRP is currently undergoing
It's nearly all green across the crypto markets Thursday as Bitcoin nears $112,000, propelling the likes of Ethereum, Solana, and Dogecoin.
Solana is gearing up for a potential rally to $260, pending a critical breakout above the $180 resistance level, which could ignite bullish momentum. The cryptocurrency has experienced fluctuations, recently
OpenAI is planning to develop AI “companion” devices that will integrate artificial intelligence capabilities with everyday life, potentially opening the door to a new high-tech innovation used alongside laptops and smartphones. In an interview with The Wall Street Journal , OpenAI CEO Sam Altman said he and designer Jony Ive are developing these secret devices for mass consumption, with plans to ship 100 million units upon launch. Ives joined OpenAI after his startup, io, was acquired by Altman’s company in a $6.5 billion deal, the Journal reported on May 21. Neither Altman nor Ives specified what these companion devices would look like or how they would operate. Ives simply referred to them as a “new design movement” that would be similar to Apple’s family of hardware and software integrations. OpenAI has raised billions of dollars from investors, who view the company as a stalwart in the AI industry following the overwhelming success of its ChatGPT large language model (LLM). As of May, ChatGPT had nearly 800 million weekly active users, according to industry data. These usage trends were behind OpenAI’s massive $157 billion valuation as of October 2024 — a figure that nearly doubled to $300 billion by March 2025. ChatGPT usage trends. Source: DemandSage Related: Microsoft and OpenAI renegotiate investment deal: Report Not the first “secret” project In addition to its secretive companion devices, OpenAI’s ambitions extend to social media, where the company plans to take on Elon Musk’s X and Mark Zuckerberg’s Meta platforms, according to an April 15 report by The Verge. The new social media platform will reportedly combine ChatGPT’s image generation capabilities with a social media feed similar to X’s. It’s unclear whether the new social media platform would launch as a standalone product or be incorporated into ChatGPT. The blend between AI and social media has also bled into the blockchain industry, with several startups utilizing these technologies to build AI agents, LLM tools and decentralized social media networks. As Cointelegraph reported , Validation Cloud recently deployed an LLM on the Hedera network, giving decentralized finance users the ability to query blockchain data more easily. Related: OpenAI’s Altman appears to reject Musk’s $97.4B bid for control