- Midas Crypto
- Posts
- 🌙 Kraken Exploring Options for Layer 2
🌙 Kraken Exploring Options for Layer 2
Kraken, the major U.S.-based cryptocurrency exchange, is reportedly looking into partnering with top firms to build its own Layer 2 network, according to sources who spoke with CoinDesk.
Mike Gavela
November 07, 2023
Together with
Crypto Roundup - Nov 7
Kraken, the U.S.-based crypto exchange, is investigating the creation of its own Layer 2 blockchain network and is considering partnerships with Polygon, Matter Labs, and the Nil Foundation. This strategic move follows Coinbase's launch of its Layer 2 network, indicating a trend among exchanges to develop proprietary scaling solutions. Meanwhile, Robinhood's crypto trading revenue has dropped by 55% in Q3 of 2023, a sharper decline than its equities transactions, reflecting a broader downturn in the crypto market. Despite this, Robinhood is looking to expand its crypto services into the European Union. Lastly, the ORDI token, a BRC-20 token on the Bitcoin blockchain, has experienced a 40.8% surge following its listing on Binance, demonstrating continued innovation and investor interest in the crypto space.
Top Stories:
Kraken is exploring the development of a Layer 2 network with potential partnerships with leading blockchain technology providers.
Robinhood's crypto trading revenue has fallen significantly in Q3, yet the company is still expanding its crypto offerings into new markets.
The ORDI token, associated with Bitcoin Ordinals, has seen a significant price increase after being listed on the Binance exchange.
TOGETHER WITH
1440
News. Without Motives. That’s 1440. Join Today!
Frustrated by biased news? Tired of trying to sift through 100s of news sources to find the facts? Leave behind the opinions and receive a daily digest of pure facts. Say hello to 1440! Delve into politics, business, science, sports, culture, and more. Join the other 3 million Americans who read 1440 each morning.
TOP STORIES
FUNDRAISES
We're excited to announce that Pimlico has raised a $4.2 million seed round led by @a16zcrypto to power Ethereum's transition to smart accounts.
Read more in our announcement below:
blog.pimlico.io/posts/seed— pimlico.eth (@pimlicoHQ)
2:01 PM • Nov 7, 2023
A year ago we started our journey to redefine global payments by leveraging blockchain rails and stablecoin liquidity across regions.
Today we are happy to announce our Seed funding and a due launch.
Here's our CEO's piece on WHY we started Due.
— Due (@due_network)
9:03 AM • Nov 7, 2023
Euro stablecoin startup lands €3.3 million seed round theblock.co/post/261845/eu…
— The Block (@TheBlock__)
8:05 AM • Nov 7, 2023
OTHER HEADLINES
CRYPTO TWITTER (X)
Stablecoin Issuer Circle Internet Considering 2024 IPO: Bloomberg
— Frank Chaparro (@fintechfrank)
11:07 PM • Nov 7, 2023
BTC + ETH open interest is now brushing $20 billion, the highest level since the FTX meltdown.
— David Lawant (@dlawant)
11:24 PM • Nov 7, 2023
Today marks the one year anniversary of the worst day of my career and one of the worst days of my life - the day FTX froze withdrawals.
— Travis Kling (@Travis_Kling)
8:19 PM • Nov 7, 2023
SHARE!
Love our newsletter? Share it with your friends, family, colleagues, interns who need to stay on top of the crypto markets! Join over 20,000 investors and crypto degenerates who read Midas Crypto daily!