Kraken Sees Major Ethereum Movement as Co-Founder Transfers $6M Amid Market Volatility
In a significant market development on September 29, 2025, Ethereum co-founder Jeffrey Wilcke transferred 1,500 ETH (approximately $6 million) to the Kraken cryptocurrency exchange during a brief price dip below the $4,000 threshold. This substantial movement represents a continuation of Wilcke's pattern of making notable deposits to the exchange, strongly indicating potential selling activity. The timing of this transfer is particularly noteworthy as it occurred during a period of increased market volatility, raising questions about insider sentiment and market timing strategies. However, this action by one of Ethereum's creators stands in stark contrast to the broader behavior of large-scale Ethereum investors, who have been actively accumulating the cryptocurrency. These major investors have purchased over $1.6 billion worth of ETH recently, demonstrating strong institutional confidence in Ethereum's long-term prospects despite short-term price fluctuations. This divergence in behavior between the co-founder and other major market participants creates an intriguing dynamic in the cryptocurrency space, highlighting the complex factors influencing investment decisions at different levels of market participation. The movement also underscores Kraken's role as a preferred platform for significant cryptocurrency transactions among high-profile industry figures.
Ethereum Co-Founder Moves $6M ETH to Kraken Amid Market Volatility
Jeffrey Wilcke, co-founder of Ethereum, transferred 1,500 ETH (approximately $6 million) to Kraken during a brief dip in Ethereum's price below $4,000. The MOVE follows a pattern of significant deposits by Wilcke to the exchange, suggesting potential selling activity.
Despite the co-founder's transfer, large-scale ethereum investors have been aggressively accumulating the asset, purchasing over $1.6 billion worth of ETH in just two days. This buying spree has seen whales acquiring ETH from major exchanges including Kraken, BitGo, and Galaxy Digital.
The market continues to see shifting strategies among major players, with one whale recently liquidating billions in Bitcoin to increase Ethereum exposure. Such moves highlight the dynamic nature of crypto asset allocation among institutional and whale investors.
Kraken and Tether Seek Massive Investments to Shake Up the Crypto World
Kraken, the U.S.-based cryptocurrency exchange, is in advanced talks to raise $200-300 million at a $20 billion valuation, with potential total investments reaching $500 million. This follows its resolution of regulatory issues and preparations for an IPO, signaling robust growth ambitions.
Tether, the stablecoin issuer, is pursuing a $20 billion funding round with backing from major investors like SoftBank and Ark. A successful raise at its targeted $500 billion valuation WOULD cement Tether's dominance, placing it among elite companies like OpenAI and SpaceX.
These capital injections could catalyze broader institutional adoption, reinforcing crypto's position in global finance. Market sentiment appears bullish as industry heavyweights secure strategic funding.
Venture Capital Surge Dominates Crypto Funding with $1.26B Raised in Late September
Venture capital firms solidified their grip on crypto financing between September 20-27, 2025, with 27 projects securing $1.26 billion in total funding. Six deals remained undisclosed, while 21 public rounds showcased institutional confidence in blockchain infrastructure.
Kraken's staggering $500 million pre-IPO round at a $15 billion valuation led the charge, backed by Tribe Capital and Arjun Sethi. The exchange positions this as its final funding before going public. Meanwhile, Fnality's $136 million Series C for tokenized fiat currencies attracted heavyweight backers including Bank of America and Temasek, signaling growing institutional interest in bridging traditional finance with blockchain rails.
The funding wave highlights venture capitalists' continued dominance in crypto's maturation phase, with particular emphasis on exchanges and decentralized finance infrastructure. Zerohash's $104 million Series D from Interactive Brokers underscores the market's appetite for institutional-grade trading solutions.
New Survey Reveals Bitcoin's Diminishing Dominance as Altcoins Gain Traction
A CoinGecko survey of 2,549 participants signals a tectonic shift in crypto investment patterns. Bitcoin now claims just 55% of first-time investor allocations—a stark contrast to its historical hegemony. Nearly 10% of respondents bypassed BTC entirely, while 37% plunged directly into altcoins.
Analysts interpret this fragmentation as market maturation. "Altcoin communities have eroded Bitcoin's primacy," notes CoinGecko's Yuqian Lim. Kraken's Jonathon Miller observes DeFi projects and memecoins cannibalizing mindshare, their accessibility fracturing BTC's role as the sole crypto gateway.
Kronos Research CEO Hank Huang identifies psychological drivers behind the trend: "Low unit costs and tribal loyalty fuel altcoin adoption." Solana and Ethereum emerge as notable beneficiaries, though experts caution bitcoin may resurge as a macro hedge during economic turbulence.
