This week’s crypto wrap-up covers bullish moves from major players, product diversification by a leading exchange, and relief for an NFT favorite.
Strategy Makes Another Major BTC Purchase Amid Bullish Momentum
Institutional Bitcoin bull Strategy added another 3,459 BTC to its balance sheet last week — worth $292 million at the time of purchase. This marks the firm’s third Monday announcement in a row and reinforces its aggressive approach toward crypto adoption.
The average price per Bitcoin in this latest buy was $82,618, showcasing a willingness to invest near the market’s upper range. With this purchase, Strategy now controls 531,644 BTC, valued at over $45 billion, signaling growing confidence in Bitcoin’s long-term role in the global economy.
Experts suggest this trend mirrors the early days of corporate gold reserves, with Bitcoin being positioned as the “digital gold” of the 21st century.
Kraken Launches Traditional Finance Products Alongside Crypto
In a major development, Kraken has entered the traditional financial services sector, rolling out zero-fee stock and ETF trading across select U.S. markets. The launch indicates Kraken’s intention to compete with brokers like Robinhood and E*TRADE, broadening its appeal beyond crypto-native users.
The company also introduced GBP/USD and EUR/USD perpetual futures contracts, which now allow traders to use up to 20x leverage to trade major fiat currency pairs. Kraken is among the first major crypto platforms to offer forex derivatives — a move that could attract traditional finance professionals into the DeFi space.
This strategic pivot comes at a time when regulatory clarity is improving in the U.S., potentially opening the door for crypto exchanges to expand into adjacent financial services.
CyberKongz Free From Regulatory Uncertainty
NFT pioneers CyberKongz announced on Tuesday that the SEC has closed its investigation into the project with no further action. This positive regulatory outcome offers much-needed clarity for the team and community after months of uncertainty.
CyberKongz also teased a rebranding initiative aimed at reintroducing the project and expanding its reach across new verticals. The move is expected to attract renewed interest in the collection, particularly among NFT traders looking for blue-chip projects with regulatory clarity.
