Hamstringing an Industry With Compliance Costs
The risk to the industry when crypto companies have to spend millions on compliance, plus new BTC mining in TX and the IMF on digital currencies.

Between Kraken's $1 million spend on subpoena responses in 2019 and stories like the $2 million it cost Blockstack to raise $23 million in an SEC-compliant token sale (8.7 percent of the raise), it begs the question: Will compliance costs fundamentally limit innovation by demanding big war chests to play? Will the most successful companies be those that (like Block One) simply raise enough to pay off the regulators on the back end?
Later, we look at new mining interests in Texas, what it means for American mining and bitcoin mining in the lead up to the halving more broadly. Finally, we'll dissect an op-ed from the IMF’s chief economist on the strength of the dollar over digital alternatives.
Topics discussed
Kraken annual transparency report shows off growing regulatory inquiries and increasing cost of compliance
Related Article: Law Enforcement Data Requests Rose by Almost 50 Percent in 2019, Says Kraken
New global interests in giant Texas-based bitcoin mining operation
Related Article: SBI, GMO to Rent Capacity at Massive Bitcoin Mine in Texas: Report
The IMF’s chief economist on why digital currencies don’t threaten the dollar’s global reserve currency status
Related Article: Digital Currencies Won't Replace US Dollar Any Time Soon: IMF Chief Economist
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KuCoin Hits Record Market Share as 2025 Volumes Outpace Crypto Market

KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
Was Sie wissen sollten:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Key bitcoin price levels to watch as downward pressure builds

As bitcoin remains in a downtrend, several technical and onchain levels stand out as critical areas of support.
Was Sie wissen sollten:
- The 100-week moving average at $87,145 remains the main line of defense.
- Below this, the cost basis of U.S. spot bitcoin ETF buyers at $84,099 has provided support during recent consolidation.
- A sustained break below $80,000 would likely open the door to a revisit of the April 2025 low near $76,000.











