Kraken-Backed Tharimmune Secures $540M in Landmark Biotech-to-Crypto Pivot

In a groundbreaking move that signals institutional confidence in digital assets, clinical-stage biotech company Tharimmune has successfully pivoted to cryptocurrency ventures while raising $540 million in a private placement led by DRW and Liberty City Ventures. The funding round, which closed on November 6, 2025, represents one of the largest private investments in the crypto space this year and demonstrates the growing convergence between traditional biotechnology and blockchain innovation. Notably, Kraken participated alongside other major industry players including ARK Invest and Polychain Capital, marking a significant endorsement from established cryptocurrency exchanges. This strategic shift from rare disease research to digital assets highlights the increasing mainstream acceptance of blockchain technology and the substantial capital flowing into the sector. The substantial funding round, particularly with Kraken's involvement, suggests strong institutional belief in the long-term growth trajectory of digital assets and could pave the way for similar transitions by other traditional companies seeking exposure to the cryptocurrency market. This development represents a watershed moment for both the biotech and crypto industries, demonstrating how established companies can successfully reinvent themselves while attracting major financial backing from prominent digital asset investors.

Tharimmune Pivots to Digital Assets, Raises $540M in Private Placement

Tharimmune, Inc., a clinical-stage biotech firm traditionally focused on rare diseases, has announced a strategic shift into digital assets. The company secured approximately $540 million in a private placement led by DRW and Liberty City Ventures, signaling institutional confidence in crypto's growth trajectory.

The funding round attracted heavyweight participants including ARK Invest, Polychain Capital, and Kraken, alongside infrastructure players like Copper and Broadridge. Notably, the Canton Network's governing body also joined, marking a convergence of traditional finance and blockchain innovation.

At $3.075 per share, the placement demonstrates how capital is flowing across sector boundaries. This move mirrors growing institutional appetite for crypto exposure, particularly among firms with deep financial markets expertise like DRW and trade-focused investors like Tradeweb Markets.

Kraken Launches Thanksgiving Trading Competition with $50K Prize Pool

Kraken is celebrating Thanksgiving with a futures trading competition offering a $50,000 prize pool and a guaranteed $20 reward for all participants. The event, running from November 3 to 14, 2025, targets U.S.-based traders on its derivatives platform.

The top trader will receive a turkey alongside a $5,000 prize, while remaining rewards are distributed across the leaderboard. Participation requires just one qualifying trade, lowering barriers for both novice and experienced traders.