US crypto exchange Kraken has reached a strategic partnership with Bitcoin financial protocol Babylon to launch a revolutionary BTC Stake service in June 2025. This service allows users to directly Stake Bitcoin on the Kraken platform without transferring assets or performing cross-chain operations, while maintaining BTC's security on the Bitcoin mainnet. This move not only creates new revenue opportunities for users but also establishes an important bridge between Bitcoin liquidity and emerging PoS chains, marking another major innovation in cryptocurrency financial services.
Kraken and Babylon Launch BTC Stake Service, Rewarding BABY Tokens
US crypto exchange Kraken has partnered with Bitcoin financial protocol Babylon to introduce an innovative BTC Stake service. Starting from June 19th, users can directly Stake Bitcoin on the Kraken platform without transferring assets out of the exchange or performing cross-chain operations. The Staked BTC will remain on the Bitcoin mainnet while being used to secure Proof-of-Stake (PoS) networks through Babylon's infrastructure.
Unlike traditional Stake mechanisms, participants will receive Babylon's native token BABY instead of BTC rewards. Market data shows that BABY's price rose nearly 3% after the announcement. Kraken's Global Head of Consumer Business, Mark Greenberg, described this as monetizing idle Bitcoin, calling unused assets a "huge opportunity cost".
The service will be simultaneously launched across all Kraken interfaces, including its professional trading platform. This collaboration establishes a strategic bridge between Bitcoin liquidity and emerging PoS chains, which are seeking to enhance network security through Bitcoin's mature value.
Ethereum ICO Participant Deposits 7,500 ETH to Kraken
According to a report by on-chain analyst Onchain Lens, a wallet associated with early Ethereum ICO participants transferred 7,500 ETH (valued at $17.05 million) to Kraken. The transaction occurred five hours before the report and was one of the largest single transfers from this address in recent times.
The same wallet still holds a significant position, retaining 4,657 ETH (valued at $10.58 million). Such movements by original ICO participants typically signal strategic portfolio rebalancing at market peaks or preparation for institutional-level trading.
