RIP NFTs? Kraken is shutting down its NFT Marketplace 🪦🖼️; Bye EURT 👋: Tether exits Euro Stablecoin market amid EU regulatory pressures 🪙🇪🇺
FinTech is Eating the World, 28 November
Hey Everyone,
Good morning & happy Friday! Today’s issue is all about digital assets and how they are shaping the future of crypto. We’re thus looking at cryptocurrency giant Kraken, which is shutting down its NFT Marketplace (what it’s all about, what it tells us & what’s next + bonus deep dive into Kraken’s biggest competitor), and stablecoin behemoth Tether that’s exiting the Euro Stablecoin market amid EU regulatory pressures (what it’s all about, why it matters & what can we expect next + some more bonus reads inside). Let’s just jump straight into the industry-defining stuff 🌶️
RIP NFTs? Kraken is shutting down its NFT Marketplace 🪦🖼️
The news 🗞️ Cryptocurrency exchange pioneer Kraken has announced the closure of its NFT marketplace, marking a significant development in the digital collectibles space.
The platform, which launched in June 2023 with over 250 collections and zero gas fees, has already transitioned to withdrawal-only mode, with a complete shutdown scheduled for early 2025.
Let’s take a quick look at this and see why it matters.