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April's CPI came in at 3.8%, the highest reading since 2023, and the Iran-driven energy shock behind it shows no sign of easing — leaving the Federal Reserve boxed in and crypto markets caught in the crossfire.
Revenue rose 46% on staking income, but the company's 2.5 million SOL position — now the second-largest corporate Solana treasury — recorded $92.3 million in mark-to-market losses during the quarter ended March 31.
The deal pairs Kraken's $30 billion xStocks infrastructure with Franklin Templeton's $1.74 trillion asset management operation, with BENJI tokenized money market funds set to integrate into Kraken for institutional clients.
Nasdaq Ventures, Deutsche Bank and the British Business Bank joined the round as stablecoin transaction volumes and regulatory pressure drive demand for enterprise-grade crypto compliance infrastructure.