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BTC $78,955.37 -2.26%
ETH $2,223.01 -1.81%
BNB $661.65 -2.49%
XRP $1.42 -3.28%
SOL $88.71 -2.82%
TRX $0.3510 -0.76%
DOGE $0.1116 -2.43%
ADA $0.2590 -3.45%
BCH $426.86 -1.80%
LINK $9.99 -3.48%
HYPE $42.69 -7.78%
AAVE $91.47 -6.22%
SUI $1.08 -6.92%
XLM $0.1533 -4.25%
ZEC $504.84 -7.04%

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Kraken's parent company Payward lays off 150 people to advance business integration before the IPO

According to CoinDesk, Kraken's parent company Payward is laying off about 150 employees. This move is part of the company's optimization adjustments in preparation for its IPO, according to two insiders. A Kraken spokesperson stated in a statement: "We continuously evaluate and adjust our organizational structure to ensure we have the right structure and talent to achieve growth objectives and better serve our customers."Meanwhile, Payward is seeking a new round of financing at a valuation of $20 billion to support its pre-IPO expansion strategy. Recently, the company completed a $600 million acquisition of stablecoin payment company Reap and a $550 million acquisition of digital asset derivatives platform Bitnomial. The previous largest acquisition occurred in 2025, when Payward acquired the U.S. retail futures platform NinjaTrader for $1.5 billion, which also holds a CFTC futures broker license.Payward submitted a confidential S-1 registration statement draft to the U.S. Securities and Exchange Commission (SEC) on November 19, 2025, taking the initial steps toward going public. In March of this year, CoinDesk reported that the company had postponed its IPO plans due to a sluggish market environment, but insiders indicated that the company still plans to move forward with the IPO once market conditions improve. At the Consensus Miami conference, Payward and Kraken co-CEO Arjun Sethi stated that the exchange's IPO preparations are "80%" complete.

Signal hints at or exits Canada, refusing to cooperate with the new surveillance bill

The encrypted messaging app Signal stated that if Canada's Bill C-22 is officially passed and requires platforms to establish "lawful access" monitoring capabilities, the company may choose to exit the Canadian market rather than weaken end-to-end encryption. Signal's Vice President of Strategy and Global Affairs, Udbhav Tiwari, indicated that the bill could force communication services to create technical backdoors, thereby undermining encryption security and making private communications more susceptible to exploitation by hackers and foreign attackers.Bill C-22 was introduced in March 2026 as part of a new round of regulatory measures in Canada, requiring electronic service providers to establish law enforcement monitoring capabilities and retain certain user metadata for up to a year to assist in investigations of crimes such as terrorism and child exploitation. Critics argue that the bill is similar to the EU's previously controversial "chat monitoring" proposal, which could threaten end-to-end encryption and user privacy. Canadian Conservative MP Jacob Mantle stated that nearly all Canadian MPs use Signal precisely because of its privacy and security features, yet the bill could grant the government the ability to read private messages.Tiwari stated, "Signal would rather exit Canada than violate the privacy commitments made to users." In addition to Signal, the VPN provider Windscribe also indicated that if the bill passes in its current form, the company may follow Signal in withdrawing from the Canadian market. Windscribe claimed that the bill could force VPN services to log data that could identify users, violating its core privacy principles.
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