Crypto M&A heats up, Ripple legal woes end, Gemini taps new CFO | Weekly Recap
### **Weekly Crypto Recap: Coinbase Eyes Deribit, Ripple Ends SEC Battle, South Korea Cracks Down on Exchanges**
This week in cryptocurrency, major acquisitions, regulatory moves, and market shifts took center stage. Here’s a breakdown of the biggest stories shaping the digital asset space.
#### **Coinbase in Talks to Acquire Deribit**
U.S.-based crypto exchange **Coinbase** is reportedly in advanced negotiations to acquire **Deribit**, a leading derivatives trading platform. Earlier this year, Dubai-based Deribit was valued between **$4 billion and $5 billion**. If the deal goes through, it could significantly expand Coinbase’s presence in the crypto derivatives market, one of the most profitable sectors in the industry.
#### **Kraken Acquires NinjaTrader for $1.5B**
Kraken, another major crypto exchange, has struck a **$1.5 billion deal** to acquire **NinjaTrader**, a U.S.-based retail futures trading platform. This acquisition positions Kraken as a 24/7 trading hub, combining both traditional and crypto futures products under one roof.
#### **Dubai Introduces Real Estate Tokenization**
The **Dubai Land Department (DLD)** has launched a **real estate tokenization pilot program**, utilizing blockchain technology to tokenize property title deeds. This marks the first time a Middle Eastern property authority has introduced such an initiative, paving the way for further blockchain adoption in real estate.
#### **South Korea Targets Unregistered Crypto Exchanges**
The **Financial Intelligence Unit (FIU) of South Korea** is preparing to impose **sanctions on cryptocurrency exchanges** that are operating without proper registration as **Virtual Asset Service Providers (VASPs)**. This move is part of South Korea’s broader effort to regulate the crypto industry and combat illicit financial activities.
#### **Convicted Fraudster Behind Major Crypto Trades**
Blockchain investigator **ZachXBT** has identified **William Parker**, a convicted fraudster, as the mastermind behind a series of highly profitable crypto derivative trades. Reports suggest Parker made **$6.8 million** by strategically going long on **Bitcoin (BTC)** just before former U.S. President Donald Trump announced a **strategic crypto reserve**.
#### **U.S. Treasury Lifts Sanctions on Tornado Cash**
In a surprising move, the **U.S. Treasury** has lifted **sanctions against Tornado Cash**, a cryptocurrency mixing service that was previously accused of facilitating money laundering for **North Korea’s Lazarus Group**. The decision reflects a shift in regulatory attitudes toward blockchain privacy tools.
#### **MicroStrategy Continues Bitcoin Accumulation**
Institutional Bitcoin investor **MicroStrategy** has raised approximately **$711.2 million** through a stock offering. Between March 10-16, the company purchased **130 BTC** at an average price of **$82,981 per Bitcoin**, reinforcing its commitment to long-term Bitcoin accumulation.
#### **LG to Shut Down NFT Platform**
Electronics giant **LG** has announced plans to discontinue **LG Art Lab**, its NFT marketplace, after three years. The company cited a strategic shift toward **new digital asset opportunities**, signaling a potential refocus in its blockchain initiatives.
#### **Eric Trump Joins Bitcoin Investment Firm Metaplanet**
**Eric Trump**, the second son of former U.S. President Donald Trump, has joined the strategic board of advisors for **Metaplanet**, a Japan-based Bitcoin-focused investment company. His appointment suggests growing political ties within the digital asset sector.
#### **Ethereum to End Support for Holesky Testnet**
The **Ethereum Foundation** has confirmed plans to **discontinue the Holesky testnet in September**. The decision comes after a **decline in validator participation** due to disruptions during the **Pectra upgrade testing**.
#### **Ripple’s Legal Battle with the SEC Comes to an End**
After a four-year legal dispute, **Ripple CEO Brad Garlinghouse** announced that the company’s case with the **U.S. Securities and Exchange Commission (SEC)** is officially over. This marks a **major victory for Ripple (XRP)** and could set a precedent for future cryptocurrency regulations.
#### **Gemini Appoints New CFO Amid IPO Rumors**
Crypto exchange **Gemini** has hired **Dan Chen**, former VP at **Affirm**, as its new **Chief Financial Officer (CFO)**. The move comes amid speculation that **Gemini may be preparing for an Initial Public Offering (IPO)**.
### **Final Thoughts**
From regulatory shifts to major acquisitions, this week’s events highlight the evolving nature of the cryptocurrency industry. As companies expand, governments tighten regulations, and institutions double down on Bitcoin, the crypto landscape continues to reshape global finance.
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