From institutional mega-investments and IPO ambitions to regulatory breakthroughs and shifting industry leaders, the crypto world has delivered another week packed with major developments. Here’s a concise roundup of the top five stories driving the markets and headlines.
MicroStrategy Makes Record-Breaking $2.46 Billion Bitcoin Purchase
MicroStrategy has made waves yet again, acquiring 21,021 Bitcoin at an average price of $117,256 per BTC, totaling approximately $2.46 billion. The investment, financed through the IPO of its fourth preferred stock (STRC), positions the company as a dominant force among institutional crypto holders. MicroStrategy now controls 628,791 BTC and continues to target income-focused investors with double-digit dividend offerings. The deal reinforces the firm’s central role in the institutional digital asset landscape.
Kraken Eyes IPO With $15 Billion Valuation
U.S.-based crypto exchange Kraken is reportedly preparing a $500 million funding round, setting the stage for an IPO that could happen as soon as early 2026. The exchange, which recently implemented significant workforce reductions to boost profitability, aims to follow in the footsteps of Coinbase and Circle—both of which have capitalized on the resurgent IPO market for crypto firms. An IPO would further cement Kraken’s status among the industry’s most influential players.
First Fully Regulated Euro Stablecoin EURAU Launches Under MiCAR
EURAU has become the first euro stablecoin to launch under comprehensive MiCAR regulation and German BaFin supervision. Backed by leading financial and crypto players such as DWS, Flow Traders, and Galaxy Digital, EURAU targets banks, fintechs, and enterprises with blockchain infrastructure needs. Fully collateralized and free of derivatives or leverage, EURAU aims to power on-chain treasury processes and marks a significant milestone for Europe’s crypto finance sector.
U.S. Crypto Regulation Report: DeFi Clarity, Bitcoin Strategy Lacking
A new 166-page report from the U.S. government outlines a roadmap for crypto regulation, proposing clearer roles for the SEC and CFTC and regulatory sandboxes for DeFi projects. The report also suggests treating stablecoins more like equities. However, the plan for establishing a U.S. government Bitcoin reserve remains vague, with the report offering no actionable details. Industry watchers have criticized this as largely symbolic, citing the lack of a concrete implementation strategy.
Industry Standouts: Tether Impresses as Coinbase Faces Pressure
Tether posted $4.9 billion in second-quarter profits, revealed $127 billion held in U.S. Treasuries, and saw USDT in circulation rise to 157 billion tokens. The company continues to expand, investing in infrastructure, AI, and Bitcoin mining—all financed from its own profits. In contrast, Coinbase disappointed investors despite posting a profit; most gains came from its stake in Circle, while revenue, trading volume, and user growth fell short of expectations. Shares tumbled by double digits, and competitive pressure from retail platforms like Robinhood is intensifying.