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Kraken· 2025-07-30 20:52
Regulatory Landscape & Innovation - The White House's digital asset framework is considered a significant step, favoring innovation and market-driven solutions in financial infrastructure [1] - The framework acknowledges the need for clearer regulations to foster innovation in stablecoins, trading platforms, and tokenized assets, potentially unlocking development in capital markets, payments, and custody [2] - The United States has decided against pursuing a central bank digital currency (CBDC), emphasizing the role of builders, protocols, and competitive markets in digital money innovation [3] Strategic Implications - The concept of a strategic Bitcoin reserve signals a shift towards integrating Bitcoin into long-term national planning [4] - The industry believes the future of financial services will be permissionless, global, and programmable, and this report is a step in that direction [5] Legislative Efforts - Legislative efforts such as the GENIUS Act, the CLARITY Act, and the Anti-CBDC Act are translating executive vision into real change [6]
X @Kraken
Kraken· 2025-07-30 18:45
Proof of Reserves Audit Highlights - Kraken's Proof of Reserves audit, completed on June 30, 2025, verifies that all client assets are fully backed on-chain [2] - The audit covers spot balances, margin activity, staked assets, and futures positions, providing a comprehensive view of client engagement [3] - Clients can independently verify their balances were included in the audit using cryptographic proof that respects privacy [3] - The June 2025 report shows every in-scope asset backed by more than 100% of client liabilities [4] - For Bitcoin and stablecoins, the backing cushion is even higher than 100% [4] Transparency and Trust - Transparency is a foundational principle at Kraken, driving product development and system design [1] - Kraken introduced the concept of Proof of Reserves over a decade ago, becoming the first major crypto platform to publish a public Proof of Reserves in 2014 [4] - Kraken's system provides users with tools to verify holdings and obligations, emphasizing self-verification over reliance on institutional trust [5] - Kraken releases audits on a regular cadence, integrating them into the company's operations to earn long-term trust [6] - Kraken aims to increase asset coverage, release more tools, and expand verifiable surface area, emphasizing proof over trust in financial systems [7]
X @Kraken
Kraken· 2025-07-30 14:17
Kraken is in build mode.Q2 '25: $412M rev (+18% YoY), $186.8B vol, $43.2B assets, 4.4M accts.Major launches: xStocks, free U.S. stocks, MiFID futures, Kraken Prime, @krak money app, global subscriptions.Next: global equities, debit cards & more.https://t.co/oZaaUYq2DS ...