Crypto
Deutsche Börse Invests $200 Million in Crypto Exchange Kraken
Kraken Valued at $13 Billion After Deutsche Börse Stake
Deutsche Börse has taken a minority stake in crypto exchange Kraken, marking one of the clearest signs yet of Europe’s largest market operator deepening its exposure to digital assets.
The German exchange group said it invested $200 million in Payward, Kraken’s parent company, securing roughly a 1.5% fully diluted ownership. The transaction values Kraken at about $13.3 billion, according to reporting by Bloomberg.
The move builds on an existing relationship between the two firms and signals a broader push to integrate traditional financial infrastructure with crypto markets. The partnership is expected to focus on regulated offerings, including tokenized assets and derivatives, while improving liquidity for institutional clients.
As part of the collaboration, Kraken will integrate with 360T, Deutsche Börse’s foreign exchange trading platform. The connection is designed to provide Kraken users with access to bank-grade foreign exchange liquidity, potentially streamlining the conversion between fiat currencies and digital assets.
The companies also plan to expand the use of Kraken Embed, a service that allows institutions to offer crypto trading and custody under their own brands. The initiative targets banks, fintech firms, and asset managers seeking to enter the digital asset space without building infrastructure from scratch.
Further developments are expected, subject to regulatory approval. These include enabling trading of derivatives listed on Eurex, Deutsche Börse’s derivatives exchange, through Kraken’s platform.
The investment underscores a growing convergence between established financial institutions and the crypto sector. For Kraken, the backing from Deutsche Börse provides capital and strategic alignment with one of Europe’s most influential financial market operators. For Deutsche Börse, the stake offers a direct foothold in a global crypto platform at a time when competition for digital asset infrastructure is intensifying.
The deal also reflects a broader trend of legacy financial firms moving beyond exploratory partnerships toward equity investments in crypto companies. By combining trading, custody, and tokenization capabilities, both firms are positioning themselves to capture a larger share of institutional flows into digital assets.
Crypto
Iran’s Cryptocurrency Toll System Emerges In The Strait Of Hormuz, Posing Economic Chalenges : Analysis | Crowdfund Insider
Iran has introduced mandatory cryptocurrency payments for commercial vessels navigating the Strait of Hormuz. Blockchain analytics firm Chainalysis and blockchain intelligence company TRM Labs have both independently documented the latest scheme, which now represents the first known instance of a nation-state levying transit fees in crypto at a critical global maritime chokepoint.
As highlighted by Chainalysis and TRM Labs in detailed updates, the system, administered by the Islamic Revolutionary Guard Corps (IRGC), took effect in mid-March 2026.
Ship operators must contact an IRGC-linked intermediary, submit comprehensive details—including vessel ownership, flag state, cargo manifests, crew lists, and destination ports—and undergo screening.
Unsurprisingly and as expected, vessels tied to the United States or Israel are barred from passage entirely.
Approved ships negotiate fees based on a five-tier “friendliness” scale, pay in Chinese yuan (via Kunlun Bank’s CIPS system) or cryptocurrency, and receive a VHF-broadcast passcode along with an escorted route through the northern corridor near Larak Island.
Tolls typically range from $0.50 to $1 per barrel of crude oil, with fully loaded very large crude carriers (VLCCs) facing bills of up to $2 million.
Iran’s parliament formalized the arrangement on March 30–31, 2026, through the “Strait of Hormuz Management Plan,” explicitly authorizing payments in rials, yuan, or “digital currencies.”
A dedicated crypto-conversion window on Qeshm Island now handles incoming funds, converting them into local currency or foreign accounts.
Although a rather weak, tentative Pakistan-brokered ceasefire took effect on April 7, 2026, reports indicate the toll regime remains operational.
Analysts highlight the IRGC’s dominant role in Iran’s crypto economy.
The Guard controlled roughly half of the country’s on-chain activity in late 2025, with associated addresses receiving more than $2 billion in 2024 and surpassing $3 billion in 2025—conservative estimates drawn from sanctions designations and seizure records.
While Iranian officials have publicly referenced Bitcoin, industry observers believe stablecoins such as USDT are preferred for their price stability and liquidity, aligning with the IRGC’s long-standing sanctions-evasion strategy.
The economic stakes are enormous. Roughly 20 percent of global oil and liquefied natural gas transits the Strait.
TRM Labs now estimates daily revenue from oil tankers alone could reach $20 million, scaling to $600–800 million monthly when LNG carriers are included.
Iranian sources reportedly project annual collections as high as $120 billion at full capacity.
The initiative extends Iran’s established use of crypto for oil sales, weapons procurement, and proxy financing.
By bypassing traditional banking rails, Tehran potentially reduces exposure to U.S. sanctions enforcement.
However, blockchain transparency offers regulators and stablecoin issuers tools to monitor flows and impose targeted freezes once wallet addresses are identified. But this is only the case with private, permissioned chains and certain stablecoins like USDC or USDT. Other coins may not be frozen so easily if at all.
Shipping companies now face heightened compliance risks, including potential penalties for unlicensed dealings with sanctioned entities. But just how exactly this can continue to be enforced remains unclear due to rapid advancements in digital technology.
This crypto toll “booth” sets a precedent that could inspire other sanctioned states to monetize strategic waterways. And this trend is likely to continue, potentially putting an end to US-led hegemony.
As the IRGC embeds digital currency infrastructure into sovereign revenue streams, the development indicates that nation states may no longer be crippled by international sanctions. Perhaps in the future, it will become very challenging if not impossible to restrict economic transactions between different countries to the rise of permissionless cryptocurrencies.
Key Takeaways:
- Alameda moved $16 million worth of SOL to a wallet linked with repayment efforts, signaling ongoing FTX creditor payouts.
- Alameda still holds 3.5 million SOL ($294 million), meaning supply overhang may impact solana markets.
- FTX-era asset releases since 2022 suggest continued distributions could shape liquidity next.
Alameda Unstakes SOL, Signals Ongoing Creditor Distributions
Alameda Research has transferred roughly $16 million worth of solana ( SOL) tokens after unstaking the assets, in a move that points to continued creditor repayments tied to the collapse of FTX.
Blockchain data tracked by Arkham Intelligence shows the tokens were sent to an address previously associated with distribution efforts. The transaction follows a similar pattern observed in recent months, where unstaked assets were routed to wallets linked to reimbursing creditors.
While there has been no official confirmation that the latest transfer will be distributed immediately, the repetition of this process suggests it forms part of a structured repayment strategy rather than a one-off movement.
Unstaking allows previously locked tokens in proof-of- stake networks to be withdrawn and made liquid. In this case, it enables Alameda to free up assets that can be redirected toward obligations stemming from FTX’s bankruptcy proceedings.
The latest transfer comes about a month after a comparable transaction, when Alameda moved a similar tranche of SOL to the same destination address. That earlier move reinforced expectations that such transfers are tied to ongoing creditor payouts.
Despite the asset sales, Alameda retains a substantial position in solana. The firm still holds approximately 3.5 million SOL, valued at around $294 million, according to Arkham data.
Solana remains one of the largest digital assets by market value, with a capitalization of about $47 billion. The token has traded near $82 in recent sessions, significantly below its peak of $293 reached early last year.
Alameda, founded in 2017 by Sam Bankman-Fried, was once a dominant trading firm in the crypto market. It played a central role in providing liquidity across exchanges and operated extensively in spot and derivatives markets.
Its fortunes shifted dramatically following the collapse of FTX in late 2022, which triggered a wave of insolvencies and legal proceedings. Since then, asset recovery and creditor repayment have been central to the restructuring process.
The steady movement of funds such as SOL highlights the scale and complexity of unwinding Alameda’s positions. Each transfer offers a signal, albeit indirect, of progress in returning value to creditors.
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