Kraken and Coinbase enter Europe with new licenses

US platforms Kraken and Coinbase strengthen their presence in Europe by obtaining licenses to operate legally. Kraken obtains a MiFID license from the European Union, expanding its derivatives offering. Coinbase obtains a VASP license in the UK, essential for offering fiat currency services. Europe becomes a land of strategic expansion as MiCA comes into force, pushing crypto companies to comply with new regulatory requirements. Kraken and Coinbase affirm their commitment to a secure and regulated framework, aimed at attracting the next billion cryptocurrency users.

Block 1: Essential news

Kraken, Coinbase set up shop in Europe with new licenses

US platforms Kraken and Coinbase are bolstering their presence in Europe by obtaining licenses to operate legally. Kraken secures a MiFID license from the European Union, expanding its derivatives offering. Meanwhile, Coinbase obtains a VASP license in the UK, which is essential for offering fiat currency services.

As MiCA comes into force, pushing crypto companies to comply with new regulatory requirements, Europe becomes a land of strategic expansion. Kraken and Coinbase both affirm their commitment to a secure and regulated framework, aimed at attracting the next billion cryptocurrency users.

Kraken doubles revenues, mulls IPO

Crypto exchange Kraken has recorded meteoric growth in 2024, doubling revenues to $1.5 billion, according to Bloomberg. With 2.6 million active accounts and $42.8 billion in assets under management, the platform continues to make its mark on the market.

Kraken now plans to publish quarterly financial reports in preparation for its IPO, a move facilitated by a more favorable political environment under the Trump administration. The exchange also contributed financially to Donald Trump's presidential campaign, betting on looser regulation for cryptocurrencies.

Musk It: Elon Musk's father's memecoin fails to convince

Since December 2024, a mysterious cryptocurrency named Musk It (MUSKIT) has been launched by Errol Musk, Elon Musk's father, to fund a think tank called the Musk Institute.

Despite the association with the Musk name, the project failed to take off, notably due to Elon Musk's lack of support and a lack of transparency over the use of funds. Developed by an anonymous crypto company based in the Middle East, the token fell from $0.06 to $0.01 before briefly rising again. Today, it trades at $0.027, with a capitalization of $27.5 million, a far cry from the hoped-for $150 million.

European Squash Federation adopts Bitcoin for 2028 Olympic Games

The European Squash Federation (ESF) becomes the first sports federation to integrate Bitcoin into its financial management. The initiative aims to "modernise its cash flow, boost its donation campaign and attract new investors ahead of the Los Angeles 2028 Olympics".

The ESF will use BTCPay Server to accept Bitcoin payments, enhancing "financial transparency and community engagement". Inspired by blockchain partnerships in soccer, this strategy could attract sponsors and set an example for other sports federations.

BlackRock set to launch Bitcoin ETF in Europe after success of IBIT in US

Following the dazzling success of its American Bitcoin ETF (IBIT), which already has $58 billion under management, BlackRock is preparing to list a similar product in Europe.

The fund could be domiciled in Switzerland and marketed as early as this month, marking BlackRock's first foray into the European crypto market. Its CEO, Larry Fink, recently touted Bitcoin as a "hedge against currency depreciation" at the Davos Forum.

With the re-election of Donald Trump, demand for digital assets exploded, propelling Bitcoin to a record high of $109,241. Europe, though less developed than the US in terms of crypto ETFs, is attracting more and more institutional investors.

Block 2: This week's Crypto Analysis

Trump and $TRUMP cash machine: 100 million in transaction fees in 2 weeks

President Donald Trump hasn't just launched a cryptocurrency. He has unleashed a financial tidal wave.

In less than two weeks, the entities behind the $TRUMP token have reaped nearly $100 million in transaction fees, according to cross-estimates by three blockchain analytics firms, including the highly regarded Merkle Science and Chainalysis.

A considerable windfall for the creators of this very token, while tens of thousands of small investors are losing out. The craze was dazzling: launched on January 17, $TRUMP reached a staggering capitalization of $14.5 billion in just two days, on the eve of Trump's inauguration. Since then? A drop of more than two-thirds in its value.

But all the while, transaction fees have continued to pile up, generating a fortune behind the scenes.

Who is pulling $TRUMP's strings?

One of the centerpieces of this crypto empire is none other than CIC Digital, a company owned by Trump. The cryptocurrency's official website states that CIC Digital "will receive trading revenues derived from trading activities".

But it's impossible to know for sure whether Trump directly receives a share of these revenues, or what the exact distribution of earnings is between the other entities involved.

What is certain is that memecoin's creators are collecting a share of trading fees via Meteora, a little-known DeFi exchange platform on which $TRUMP was initially listed.

Behind this